COMM 103 Chapter Notes - Chapter 10: Organizational Architecture, Market Segmentation, Desertion

• School: Queen's University
• Department: Commerce
• Course: COMM 103
• Professor: Gregory Libitz

Document Summary

Marketing: is the process through which organization design, develop and communicate the value of their products and/or services. In its simplest context, the purpose of marketing is to design, and communicate value. Two fundamental principles of marketing: consumers don"t buy products or services they buy solutions to problems or needs, consumers will not pay more for a product if they can get a similar product for less. Primary sources of information: are those that an organization develops or utilizes to generate information specific to the organization and the products and services it offers. Secondary sources of information: are those that an organization develops or utilizes to generate information specific to the organization and the products and services it offers. Target marketing: is the process whereby organizations determine which marketing segments represent the strongest clustering of potential customers who are most likely to purchase the product and who have the capacity to do so.