MKT 100 Lecture Notes - Competitive Intelligence, Speeders, Marketing Mix
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MKT 100 Full Course Notes
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A set of business practices designed to plan for an present an organization"s products or services in ways that build effective customer relationships. A need is when a person feels deprived of the basic necessities of life (i. e. food, clothing, shelter, or safety). A want is the particular way in which the person chooses to fulfill his or her need, which is shaped by a person"s knowledge, culture, and personality. The company must first identify the customers or market for its product or service. Marketers divide the market into subgroups or segments of people to whom they are interested in marketing their products, services, or ideas. Marketers build marketing strategies to meet the needs and wants of target market. Marketing can be performed by both individuals and organizations. B2b:wholesaling is often business to business b2c: all retailing is business to consumer selling c2c: swap meets, ebay, yard sales, etc.