MKT 100 Study Guide - Midterm Guide: Want To, Gelatin, B Vitamins

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Yanina Chevtchouk

Document Summary

What is marketing : marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large (approved by the ama, july 2013) . Ama 2013 7 (cid:14000) (cid:28856: marketing is a set of business practices designed to plan for and present an organization"s products or services in ways that build effective customer relationships (canadian marketing association) . Core aspect #1: satisfying customer needs and wants : begins with understanding what customers want and need (cid:17788)(cid:10913) , requires developing products and services that fulfill those unmet needs/wants, or better meets them . Core aspect #2: marketing entails an exchange (cid:15496) : the exchange can occur between 2 or more parties, encompasses more than just a buyer exchanging money for a good or service (cid:23590) (cid:8608) (cid:23590)(cid:11520) Core aspect #3: marketing requires product, price, place, & promotion.