MKT 100 Chapter Notes - Chapter 1: Supply Chain, Customer Relationship Management, Marketing
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MKT 100 Full Course Notes
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Marketing is used to create value in products or services. Marketing is designed to plan and present a company"s products/ services in a way that build the relationships of customers with the company. It is planned for, not randomly done. Good marketing requires thoughtful planning using ethical implications for the decisions. Companies develop marketing plans that specify their activities for a certain time period. In all situations, the buyer and the customer are satisfied with the sale. Marketing is about satisfying customer wants and needs. Even though marketers would want to sell their product to everyone, it is not wise to do so because marketing costs money. Marketing is about exchange, which is the trade of value between the buyer and the seller so that both of them are better off. Marketing is divided into 4 interrelated decisions, these are known as the marketing mix aka four ps.