MKT 100 : MKT100 notes.docx

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Joanne Mc Neish

Document Summary

Firms focus on three activities to become value-driven 4. Two levels of strategic planning corporate and functional 7. Three major phases of a marketing plan 7. Marketing: a set of business practices designed to plan for and present an organizations products or services in ways that build effective customer relationships. Need: a person feeling physiologically deprived of basic necessities, such as food, water, clothing, shelter and safety. Want: the particular way in which a person chooses to satisfy a need, which is shaped by a person"s culture, knowledge & personality. Market: refers to the groups of people who need or want a company"s products or services and have the ability & willingness to buy them. Target market: the customer segment or group to whom the firm is interested in selling its products and services. Exchange: the trade of things of value between a buyer & seller so that each is better off.