MGMT 100 Study Guide - Final Guide: Cause Marketing, Subculture, Consumer Behaviour
Document Summary
Lo1 define marketing and explain how the marketing concept applies to both for-profit and non-profit organizations. Marketing is a set of business practices designed to plan for and present an organization"s products or services in ways that build effective customer relationships. Market is defined as a group of people with unsatisfied wants and needs who have the resources and willingness to buy. Much of marketing is about helping the buyer buy. By helping the buyer buy, it helps the seller sell. Wise marketers provide a wealth of information online, through blogs and social networking. Online communities provide an opportunity to observe people interacting with one another, expressing their own opinions, forming relationships, and commenting on various goods and services. The future lies within in the internet. Retailers and other markets who rely solely on traditional advertising, and selling are losing out to the new ways of marketing.
