[Management and Organizational Studies 2320A/B] - Midterm Exam Guide - Everything you need to know! (94 pages long)

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: John White

Document Summary

Mos 2320 lecture 1 (chapter 1: overview of marketing) 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 a(cid:374)d prese(cid:374)t a(cid:374) orga(cid:374)izatio(cid:374)"s produ(cid:272)ts or services in ways that build effective customer relationships. Requires thoughtful planning with an emphasis on the ethical implications of any of those decisions on consumers and society in general. Marketing plan how the product or service will be conceived or resigned, how much it should cost, where and how it will be promoted, and how it will get to the consumer. Build & maintain a loyal customer base. Disti(cid:374)guish fro(cid:373) (cid:272)o(cid:373)petitors (cid:894)ho(cid:449) does ti(cid:373)(cid:373)(cid:455)"s a(cid:374)d tar(cid:271)u(cid:272)ks do it? (cid:895) Lo1: marketing is about satisfying customer needs and wants. Need: basic necessities (food, water, clothing, shelter, safety) Want: particular way in which a person chooses to satisfy a need, which is shaped by a persons knowledge, culture, and personality.