BU352 Chapter Notes - Chapter 1: Urbanspoon, Customer Relationship Management, Marketing Channel
Document Summary
A set of business practices designed to plan for and present an org"s products/services in ways that build effective customer relationships. Thoughtful planning with emphasis on ethical implications of any decisions on consumers and society. How product/service will be conceived or designed. Buyer and seller should be satisfied with the value obtained from the transaction. Need basic necessities e. g. food, clothing, shelter, safety. Want the particular way in which a person chooses to satisfy a need: shaped by a person"s knowledge, culture, and personality. Exchange the trade of things of value between the buyer and the seller so that each is better off as a result. Sellers provide goods/services, then communicate and facilitate the delivery of their offering to consumers. Buyers complete exchange by giving money and information to the seller. Marketing traditionally divided into a set of 4 interrelated decisions.
