MGT 3300 Lecture 2: MGT 3300 Lecture 2
Document Summary
Marketing is more than selling and advertising, but it also possible to define marketing too broadly. In defining marketing, there are really two alternative views a micro view and a macro view. The micro view of marketing includes activities that: Direct flows of goods and services to customers; The macro view of marketing includes a social process that: Effectively matches supply and demand; is concerned with how marketing activities affect society, and vice versa. Managerial marketing is done by organizations; beyond that general definition, there are several specific aspects of marketing that marketers should consider. Applies to both profit and nonprofit organizations; Begins with customer needs not the production process; Does not do it alone or take the place of other business activities; involves exchanges consumers exchange something of value to acquire something of value; Builds a relationship with the customer that will lead to repeat purchase. Macro-marketing"s emphasis is on how the whole marketing system works.
