BA 3340 Lecture Notes - Lecture 80: Psychographic, Market Environment, Social Environment
Document Summary
Marke&ng: a set of business prac,ces designed to plan for and present an organiza,on"s products and services in ways that build e>ec,ve consumer rela,onships: the ac,vi,es buyers and sellers perform to facilitate mutually sa,sfying exchanges. A market is decned as a group of people with unsa,sced wants and needs who have the resources and the willingness to buy. Today marke,ng is about helping the buyer to buy through increased knowledges and cul,va,ng customer rela,onships using blogs and social networking sites. Marke,ng is helping consumers make beeer decisions based on the knowledge provided. Today we are in a social media marke,ng era. General philosophy of business was to produce as much as possible. Logical and proctables as demand exceeded supply: sales era. Business philosophy turned from producing to selling. Persuade customers to buy exis,ng products: marke,ng concept era. Sudden increase in the birth rate (baby boom)
