MGTA02H3 Lecture : Chapter 5
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MGTA02H3 Full Course Notes
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Document Summary
Marketing planning and executing the development, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy both buyers" and sellers" objectives. Marketing concept the idea that the whole firm is directed toward serving present and potential customers at a profit. Value relative comparison of a product"s benefits versus its costs. Utility ability of a product to satisfy a human want or need. 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. Relationship marketing a type of marketing that emphasizes lasting relationships with customers and suppliers. External environment outside factors that influence marketing programs by posing opportunities or threats. Substitute product a product that is dissimilar from those of competitors but that can fulfill the same need.
