BUAD301 Study Guide - Midterm Guide: Customer Relationship Management, Marketing Ethics, History Of Marketing

• School: University of Delaware
• Department: Business Administration
• Course: BUAD301
• Professor: markbambach

Document Summary

Chapter 1: marketing is important to you: Important to every consumer: affects almost every aspect of your daily life, marketing drives organizations to focus on what it takes to satisfy you, the consumer. Important to your job: offers many exciting and rewarding career opportunities. Innovation- the development and spread of new ideas, goods, and services: how should we define marketing, there are micro and macro view of marketing, micro view- a set of activities performed by organizations, macro view- a social process. In everyday use when people talk about marketing, they have a micro view in mind. The aim is to identify customers" needs and meet those needs so well that the product almost sells itself : marketing should begin with potential customer needs- not with the production process. Consumers prefer to buy and consume in small quantities: discrepancies of assortment- producers specialize in producing a narrow assortment of goods and services.