[ADM2320] - Final Exam Guide - Comprehensive Notes for the exam (41 pages long!)

• School: University of Ottawa
• Department: Administration
• Course: ADM 2320
• Professor: David Delcorde

Document Summary

Lo1 define role of marketing & explain its core concepts. Lo2 describe how marketers create value for a product or service. Lo3 summarize the 4 orientations of marketing. Lo4 understand importance of marketing both within & outside firm. Marketing: set of (cid:271)usi(cid:374)ess pra(cid:272)ti(cid:272)es desig(cid:374)ed to pla(cid:374) for & prese(cid:374)t a(cid:374) org. "s produ(cid:272)ts or ser(cid:448)i(cid:272)es i(cid:374) ways that build effective customer relationships. Used to create value in products & services. Interrelated marketing mix (cid:862)4 p"s(cid:863) creates, transacts, communicates & delivers value. Good marketing is not a random activity & it requires thoughtful planning with an emphasis on the ethical implications of decisions made on the consumer and society in general. Core aspects of marketing *on final exam* . This is how marketers generate ideas for new products by uncovering consumer needs. In order to understand customer needs & wants, company must 1st identify customers or market for its products or service.