MKT 1001 Lecture Notes - Lecture 1: Foreign Corrupt Practices Act, Market Segmentation, Target Market

• School: St. John's University
• Department: MKT - MARKETING
• Course: MKT 1001
• Professor: Mark A.Ventimiglia

Document Summary

Marketing - de ned as the activity set of institutions and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. (mostly customers). Do things to sell your product to customers. Exchange - give something up to receive something else. People giving up something in order to receive something else they would rather have. There must be at least two parties. Each party has something that might be of value to the other party. Each party is capable of communication and delivery. Each party is free to accept or reject the exchange offer. Each party believes it is appropriate or desirable to deal with the other party. With these ve conditions met, exchange is possible but not guaranteed. Production orientation- focuses more on the internal capabilities of the rm rather than the demand from the marketplace. What do we do best? (ashley furniture offers same styles).