BU352 Chapter Notes - Chapter 1: Usability, Customer Relationship Management, Marketing
Document Summary
Marketing: set of business practices designed to plan for and present an organization"s products or services in ways that build effective customer relationships. How g/s will be designed, cost, where/how it"ll be promoted, how"ll it get to customer. Marketing is about satisfying customer needs and wants. Need: basic necessities, such as food, clothing, shelter, and safety. Want: particular way in which a person chooses to satisfy a need, which is shaped by a person"s knowledge, culture, and personality. Market: groups of people who need or want a company"s g/s and have the ability and willingness to buy them. Target market: customer segment or group to whom firm is interested in selling its g/s. Exchange: trade of things of value between the buyer and the seller so that each is better off as a result. G/s producers (sellers) communications & delivery customers (buyers) money &
