BU472 Chapter 1: Chapter 1 - Understanding IMC.docx
Document Summary
Marketing: marketing, the process of planning and executing, the conception, pricing, promotion, and distribution of ideas, goods and services, create exchanges, satisfy individual and organizational objectives focused on exchange create and sustain relationships with customers, must be: two or more parties with something of value to one another a desire and ability to give up that something to other party. Way to communicate with each other: important role as it informs consumers of an organization"s product and convincing them of its ability to satisfy their needs and wants, marketing function in an organization, facilitates exchange process, examining the needs and wants of consumers, developing a g/s that satisfies these needs, offering it at a certain price, making it available at a particular place or through a channel of distribution, developing a program of promotion or marketing communication purpose of marketing function = combine 4p"s into a marketing program that facilitates potential exchange with consumers in market place.
