BUS 200 Lecture Notes - Lecture 10: American Marketing Association, Marketing Mix, Ipad

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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 - 2007 american marketing association (ama) Foundational idea, part of all activities, processes, beliefs of the businesses. Creating and maintaining mutually beneficial exchange relationships. Obtaining a desired object from someone by offering someting in return. Capturing value: profit, equity, etc. for business. Simply developing a customer relationship (without any exchange) The art and science of choosing target markets and getting, keeping, and growing customer relationships through creating, delivering, and communicating superior customer value and capturing value in return. State of felt deprivation including physical, social, and emotional needs. A desire for a particular product to satisfy a need. Describes the form that a human need takes, as shaped by culture and individual personality. Ex; i need to eat; i want to eat pizza.

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