MGTA02H3 : Detailed
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MGTA02H3 Full Course Notes
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Chapter 15: understanding marketing processes and consumer behavior. What is marketing marketing: planning and executing the development, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy both buyers" and seller" objectives. Markets also promote ideas (don"t drink and drive) Relationship marketing relationship marketing: a type of environment that emphasizes lasting relationships with customers and suppliers (can result in long term satisfaction and customer loyalty) < harley. Marketing environment external factors: outside factors that influence marketing programs by posing opportunities or threats (5 environments- political/legal, social/cultural, technological, economic, competitive: political/legal environment: ex. Marketing managers: managers responsible for planning and implementing all the marketing-mix activities that result in the transfer of goods or services to customers (marketing requires management) Place (distribution) distribution: that part of the marketing mix concerned with getting products from the producer to the buyer, including the physical transportation and choice of sale outlets (firms decide on outlets, warehouses, channels of distribution)
