ADMS 2200 Chapter Notes - Chapter 1, 2: Canadian Imperial Bank Of Commerce, Cash Flow, Inventory Control

• School: York University
• Department: Administrative Studies
• Course: ADMS 2200
• Professor: C.Hendriks

Document Summary

Marketing creates utility through the exchange process: utility: want-satisfying power of a good or service. Conversion of raw materials and components into finished goods and services. Availability of goods and services when consumers want them. Availability of goods and services at convenient locations. Ability to transfer title to goods or services from marketer to buyer. Ramen noodles (nutrition for students who are hungry, broke, and can"t or won"t cook) Digital photographs; lenscrafters eyeglass guarantee; canada post expresspost. Soft-drink machines outside gas stations; on-site day care; banks in grocery stores. Retail sales (in exchange for currency or credit- card payment) Marketing: the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services, organizations, and events to create and maintain relationships that will satisfy individual and organizational objectives. The definition identifies the marketing variables that together provide customer satisfaction.