MKT 100 Lecture 1: Intro

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Khalil Rohani

Document Summary

Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large . Customers buy your product only if consumers demand it i. e. if you are a toy manufacturer your marketing efforts should be geared towards exciting the children about your product so they will ask their parents to make a purchase. Wants: not essential for survival (something you desire for pleasure) Demands: somebody who desires your product and has the purchasing power. Marketing channels: store/online, the channel of selling product. Marketing environment: how will you distinguish your product from others in your environment. Competition: will try to drive you out of business. Change is the only constant thing in marketing. A need is when a person feels deprived of the basic necessities of life.