COMMERCE 2MA3 Chapter Notes - Chapter 1: History Of Marketing, Marketing Buzz, Sustainable Products
11 Mar 2014
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Document Summary
Three-step approach for an organization to create a customer. Identifying needs in the marketplace: finding out which needs the organization can profitably serve, developing goods and services to convert potential buyers into customers. Identifies the marketing variables product, price, promotion, and distribution that combine to provide customer satisfaction. Factors that forced marketers and nations to extend their economic views to events outside their boarders. International agreements are being negotiated in attempts to expand trade among nations: the growth of electric commerce and related computer technologies is bringing previously isolated countries into the marketplace for buyers and sellers. 1: the interdependence of the world"s economics is a reality because no nation produces all the raw materials and finished goods its citizens need or consumes all its output without exporting some to other countries. Exchange process: activity in which two or more parties give something of value to each other to satisfy perceived needs, example: money for tangible goods.
