BU352 Lecture Notes - Lecture 1: Toothpaste, Marketing Mix, Honda Fit
Document Summary
Marketing is a set of business practices designed to plan for and present an organization"s products or services in ways that build effective. Good marketing is not a random activity; it requires thoughtful planning with an emphasis on the ethical implications of any decisions on consumers and society in general. Marketers" responsibility: marketers must address the ethical implications of their actions on society in general. Marketing is not just about buyers and sellers exchanging money for goods and services, or about making a profit. Value is in essence what you get for what you give up. The fundamental purpose of marketing is to create value for both the firm and customers: marketing"s core aspects. Beginning with understand customer need and wants. Needs a person feeling physiologically deprived of basic necessities, such as food, clothing, and shelter. Wants the particular way in which a person chooses to satisfy a need, which is shaped by a person"s knowledge, culture, and personality.
