MKTG101 Final: MKTG101: Marketing Fundamentals Exam Notes

• School: Macquarie University
• Department: Marketing
• Course: MKTG101
• Professor: Chris Bauman

Document Summary

The activity, set of institutions, and processes for creating, communication, delivering and exchanging offerings that have value for customers, clients, partners and society at large. 3 key components: customer orientation (central focus, profitability (long term and short term) and return of investment. Marketing orientation-the main task of the organisation is to determine the needs and wants of target markets and so satisfy them through all streams (design, communication, pricing, delivery: social marketing orientation. Social marketing concept holds that organisation"s tasks is to determine the needs, wants and interests of target markets: deliver desired satisfactions effectively and efficiently that competitors in a way that preserves and enhances the consumers and societies well-being. Small businesses and large multinational corporations: businesses selling goods and services, public and private organisations including governments. Involves understanding the market to create, communicate and deliver an offering for exchange. Start by looking at "understanding" the consumers (e. g. buying behaviour) , the market (e. g.