MKT 100 Lecture Notes - Marketing, Institute For Operations Research And The Management Sciences

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Laila Rohani

Document Summary

Marketing is a set of business practices desgine to plan for and present an organizations products or services in ways that build customer relationships. A marketing plan is a written document composed of an analysis of the current marketing situation, opportunities and threats for the firm. A target market is a segment or group to whom the firm is interested in selling its products and services too. marketing is the following: satisfying needs of customers needs and wants, marketing entails value exchange. Essentially, distributions: promotion: communicating value: promotion is communication by a marketer that informs, persuades and reminds potential buyers of a product. Values-based marketing: focuses on providing customers with benefits that far exceed the cost of acquiring. How firms become value driven: share information: about customers and competitors. He wants to sell at highest, you want to buy at lowest, once done business is over. A relational orientation is the premise of a long term relationships.