BUAD301 Study Guide - Final Guide: Breakfast Cereal, Vehicle Insurance, Demand Curve

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

Document Summary

How marketing effects society and vice versa: an effective macro-marketing system delivers the goods the goods and services that people want and need, in the right time, and place, and at the right price, micro-macro dilemma e. i. Group needs (macro) (dilemma) individual needs(micro: separation of producer and consumer, universal functions of marketing g. i. Gets rid of separation between producers and consumers g. ii. Marketing info function: characteristics of what does the marketing concept mean, marketing concept: organization aims all of its efforts at satisfying its customers at a profit a. i. ***you need all 3 of these: market orientation carries out the marketing concept, characteristics of the marketing concept and customer value, managers who adopt the marketing concept see customer satisfaction as the way to profit a. i. Diversification: market penetration: means trying to increase sales of a firm"s present products in its present markets-probably through a more aggressive marketing mix. a. i.