MARK 201 Lecture Notes - Lecture 12: Target Market
Document Summary
According to the ama: marketing is the activity for creating, communicating, delivering and exchanging offerings that benefit customers, the organization, stakeholders, and the society at large. There is psychological influence with this act. You are influencing people to think a certain way about what you are trying to sell them. Ama defines marketing as: the activity for creating, communicating, delivering and exchanging offerings that benefit customers, the organization, stakeholders, and the society and large. There is a responsibility of providing benefits through goods, services, ideas. Their differences are that individuals buy for themselves and their households while organizations due so for resale. Trade things of value for benefits: 2 or more parties with unsatisfied needs, a desire and ability to satisfy, a way for parties to communicate, something to exchange. You need to know and have a way to reach consumers. Needs are experienced when a person feels physiologically deprived of basic necessities such as food, clothing, and shelter.
