MCS 1000 Lecture Notes - Lecture 1: Ecrm, Micromarketing, Social Media Marketing

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: Raffi Sarmazian

Document Summary

The activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, its stakeholders, and society at large. Requirements for marketing to occur: 2 or more parties with unsatisfied needs, a desire and ability to satisfy these needs, a way for the parties to communicate, something of value to exchange. People with desire and ability to buy. Ultimate customers people who used goods purchased for household. Organizational buyers companies who buy resources to use or resell. Consumers who buy, organizations that sell, and society as a whole. 4 p"s of (cid:373)arketi(cid:374)g (cid:894)marketi(cid:374)g mix(cid:895: product, price, promotion, place. All of which can serve as accelerators or brakes on marketing. Firms produced more goods then buyers could consume. Hiring of sales people to find new buyers. Firms strived to satisfy consumer needs, while achieving organizational goals. Marketing at the beginning of production cycle rather than end. Using the information to create value and ensure customer satisfaction.