AFM131 Lecture Notes - Reference Group, Cognitive Dissonance, Psychographic
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AFM131 Full Course Notes
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Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of goods and services to facilitate exchanges that satisfy individual and organizational objectives. Markets are groups of people with unsatisfied wants and needs and who have the resources and willingness to buy products. What marketers do at any point in time is solely dependent on the customers" needs at the time. Today, there is an increasing trend in green marketing, which are marketing efforts to produce, promote, and reclaim environmentally-sensitive products. Marketing evolved in four eras: (1) production, (2) sales, (3) marketing concept, (4) customer relationship: the production era. From the time people settled in canada to the start of the 1900"s. The general philosophy was for businesses to produce as much as possible. Due to limited production capabilities and vast demand for products, production orientation was logical and profitable as demand exceeded supply. Most goods were bought as soon as they were available for sale.