COMMERCE 2MA3 Chapter 1: Chapter One Marketing
19 Jun 2016
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Document Summary
Marketing- the activity for creating, communicating, delivering and exchanging offerings that benefit the organization, its stake holders and society at large. Requirements for marketing: two or more parties(individuals or organizations)with unsatisfied needs, a desire and ability on their part to be satisfied, a way for parties to communicate, something to exchange. Market- people with the desire and ability to buy a specific product\ Social marketing - marketing designed to influence the behaviour of individuals in which the benefits of the behaviour accrue to those individuals or to the society in general and not the marketer. Ultimate consumers- people (whether 80 years or 8 months old) who use the goods and services purchased for a household. Organizational buyers- those manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use or for resale. 3 specific groups that benefits from marketing: consumer buy, organizations who sell, society as a whole.
