MKT 100 Final: MKT100 FINAL EXAM NOTES

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Marla Spergel

Document Summary

Marketi(cid:374)g: a set of (cid:271)usi(cid:374)ess pra(cid:272)ti(cid:272)es desig(cid:374)ed to pla(cid:374) for a(cid:374)d prese(cid:374)t a(cid:374) orga(cid:374)izatio(cid:374)"s products or services in ways that build effective customer relationships. It is about satisfying the (cid:373)arket"s needs and wants. Wa(cid:374)ts: (cid:272)hose(cid:374) to satisf(cid:455) a (cid:374)eed shaped (cid:271)(cid:455) perso(cid:374)"s (cid:272)ulture, k(cid:374)o(cid:449)ledge a(cid:374)d perso(cid:374)alit(cid:455). Market target (cid:373)arket: targeted group of people (cid:449)ho (cid:374)eed/(cid:449)a(cid:374)t a (cid:272)o(cid:373)pa(cid:374)(cid:455)"s product/service. Marketing mix: interrelated controllable set of activities to help confine a decision used by the firm to respond to the wants of its target market. Product: creating value by developing offerings such as goods (can be touched physically), services (benefits produced by people/machines), and ideas (opinions, ad(cid:448)i(cid:272)e(cid:895) to satisf(cid:455) the (cid:272)usto(cid:373)er"s (cid:374)eeds. Price: transacting value in exchange to acquire the product. Place: delivering value in order to get the product from the manufacturer or producer to the right customer when the customer wants it: retail and marketing management supply chain management.