COMMERCE 2MA3 Lecture Notes - Lecture 1: Marketing Mix, Corporate Social Responsibility, Rolex

• School: McMaster University
• Department: Commerce
• Course: COMMERCE 2MA3
• Professor: Yousra Bakr

Document Summary

A person is choosing a place to do their groceries. Think of a place to dine in today. The business delivers products and services, the customer gives money and information in return. Are you getting enough benefits compared to the cost you pay. Marketing involves an exchange that adds value to customers. The business delivers value, the customer gives money and information in return. Firms satisfy customers" needs by delivering them value. The firm should start by focusing on those who want and can afford their product, that is their market. Despite that the market for galaxy includes both males and females, and both adults and kids, galaxy chooses to target adult females in most of its ads. Because companies has limited resources, they choose to focus their marketing efforts on buyers who are most likely to have interest in, can afford, and are most likely to buy their product.