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CITB01H3 (54)
Lecture

Chapter 5p1.docx

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Department
City Studies
Course
CITB01H3
Professor
Steve Joordens
Semester
Winter

Description
Chapter 5 (Marketing) Marketing: process of planning & executing the conception, pricing, promotion & distribution of ideas, goods & services to create exchanges that satisfy both buyers and sellers Marketing Concept: whole is coordinated to achieve 1 goal Value = Benefits/costs Utility: ability of a product to satisfy a human want or need 4 kinds of Utility: - Time, Place. Ownership, form of utility Consumer Goods: products purchased by individuals for their personal use Industrial Goods: products purchased by companies to use directly or indirectly to produce other products Services: Intangible products, such as time, expertise, or an activity that can be purchased Marketing Managers: responsible for planning & implementing all the marketing mix activities that result in the transfer of goods or services to customer Marketing Plan: detailed & focussed strategy for gearing the marketing activities to meet
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