MCS 1000 Study Guide - Final Guide: Social Media Marketing, Uch, Customer Relationship Management

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: Sergio Meza

Document Summary

Marketing does not create needs, it shapes wants. Marketing is the activity for creating, communicating, delivering and exchanging offerings that benefit the organization, its stakeholders and society at a large. Marketing seeks the needs and wants of prospective customers and wants to satisfy them. For marketing to occur, you need the following: Two or more parties with unsatisfied needs: you want something, but the place you want it from has it and wants to sell it to somebody. Desire and ability to satisfy these needs: you want your needs to be satisfied, you go buy what you want, because the place you want it from has it in stock. A way for the parties to communicate: for you to be aware that a store is selling what you want, they need to know that it exists and that can be done by marketing.