COMMERCE 2MA3 Chapter 1: Chapter 1
27 Oct 2016
School
Department
Course
Professor
Document Summary
Marketing is a set of business practices designed to plan for an d present a(cid:374) orga(cid:374)izatio(cid:374)"s products or services in ways that build effective customer relationships. In general firms develop a marketing plan that specifies their marketing activates for a specific period of time. The marketing plan is broken down into various components. Need is when a person feels deprived of the basic necessities of life, such as food, clothing, shelter, or safety. Want is the particular way in which the person chooses to fulfill his or er (cid:374)eed, (cid:449)hi(cid:272)h is shaped (cid:271)y a perso(cid:374)"s k(cid:374)o(cid:449)ledge, culture, and personality. For example, when we are hungry, we need something to eat. Some people want submarine sandwich to satisfy that hunger, whereas others want a salad and some soup instead. Is defined as those consumers who want and can afford such a product.
