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Marketing ch 1 notes.docx

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Ryerson University
MKT 100
Laila Rohani

Marketing- Chapter One notes Marketing is a set of business practices desgine to plan for and present an organizations products or services in ways that build customer relationships. A marketing plan is a written document composed of an analysis of the current marketing situation, opportunities and threats for the firm. A target market is a segment or group to whom the firm is interested in selling its products and services too. marketing is the following: 1) Satisfying needs of customers needs and wants. 2) Marketing entails value exchange The Four P’s of Marketing: 1) Product: Creating value: creating goods to sell to customers to meet their needs and wants 2) Price: Transacting values: Overall sacrifice of a consumer to acquire a specific product. 3) Place: Delivering value: The activities necessary to get the product from the manufacturer or producer to the right customers when they want it. Essentially, distributions. 4) Promotion: Communicating value: Promotion is communication by a marketer that informs, persuades and reminds potential buyers of a product. How Marketing helps create Value: DIFFERENT TYPES OF MARKETING. 1) Product orientation: Products are created to make a need rather than to always fulfill a need or want. 2) S
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