ADM 2320 Study Guide - Midterm Guide: Baby Boomers, Competitive Intelligence, Acronym

• School: University of Ottawa
• Department: Administration
• Course: ADM 2320
• Professor: Ysabella Lee

Document Summary

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. 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. The delivery of customer satisfaction in a way that benefits the organization and its. Personal selling: advertising, making products available in stores, managing relationship with customers, designing new products. Wants: objects to satisfy a need that are shaped by culture & personality. Demands: needs and wants combined with buying power: key concepts in marketing. Comparison: needs occur when a person feels physiologically deprived of necessities, wants are needs shaped by culture and individual personality, demands are needs/wants combined with buying power. Exchange: the idea that people give up something to receive something they would rather have.