KINE 4020 Chapter 1: Chapter 1 - What is Marketing Notes
11 Feb 2016
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Production and marketing of goods and services. Marketing had its origin in economics, later, marketing borrowed concepts from areas such as psychology and sociology to explain how people made purchase decisions. Mathematics, anthropology and other disciplines also contributed to the evolution of marketing. Economists contributed to the concept of utility: utility: the want-satisfying power of a good or service. Soft-drink machines outside of gas stations, on-site daycare, banks in grocery stores. Conversation of raw materials and components into finishes goods and services. Availability of goods and services when consumers want them. Availability of goods and services at convenient locations. Ability to transfer title to goods or services from marketer to buyer. Identifying needs in the marketplace, finding out which needs the organization can profitably serve, and developing goods and services to convert potential buyers into customers. Marketing specialist are responsible for most activities: i. ii. iii.
