MGTA02H3 Chapter Notes - Chapter 5: Root Mean Square, Market Segmentation, Marketing Mix
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MGTA02H3 Full Course Notes
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Understanding market: markets segmentation and market: understanding market: markets segmentation and market. Marketing: planning and executing the development, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy both buyers" and sellers" objectives. Marketing concept: the idea that the whole rm is directed toward serving present and potential customers at a pro t. Value: relative comparison of a product"s bene ts versus its costs. Utility: ability of a product to satisfy a human want or need. Consumer goods: products purchased by individuals for their personal use. Industrial goods: products purchases by companies to use directly or indirectly to produce other products. Marketing managers: mangers responsible for planning and implementing all the marketing-mix activities that result in the transfer of goods or services to customers. Marketing plan: a detailed strategy for gearing the marketing mix to meet consumer needs and wants. Marketing mix: the combination of product, price, place, and promotion strategies used in marketing a product.
