Management and Organizational Studies 2320A/B Chapter Notes - Chapter 1: Ron Joyce, Tim Hortons, Urbanspoon

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: John White

Document Summary

Marketing : a set of business practices designed to plan for and present an organization"s products or services in ways that build effective customer relationships. It requires thoughtful planning with an emphasis on the ethical implications of any of those decisions on consumers and society. Marketing plan : firms develop and specifies their marketing activities for a specific period of time. How the product or service will be conceived or designed. Where and how it will be promoted. How it will get to the consumer. = in any exchange, the buyer and the seller should be satisfied with the value they obtained from a transaction. Core aspects of marketing: marketing is about satisfying customer needs and wants. Understanding the marketplace - consumer needs and wants - is fundamental to marketing success. Need : the basic necessities of life, such as food, clothing, shelter or safety.