MGTA02H3 Chapter Notes - Chapter 2: Market Segmentation, Philip Kotler, Secondary Market
1
MGTA02H3 Full Course Notes
Verified Note
1 document
Document Summary
Mgta02 chapter 2 marketing: satisfying customer needs and wants. A business must satisfy customer needs in order to make a profit. A business must make a profit in order to satisfy customer needs. Adam smith, founder of liberal economic thinking and wrote the butcher, the brewer, and the baker did not pursue their trades out of benevolence or love for humanity . Rather; these businessmen made their products satisfying out of their own self- interest. Rather, it strives to discover what they want. The idea that a business should focus its energies on customer needs is often attributed to the american professor philip kotler : considered one of the most influential marketing thinkers in the world. Believed that there had been an evolution in the strategic management of business. In the 19th century most business recourse had been directed on production, in other words making goods and services.
