MKT 100 Chapter Notes - Chapter 1-4: Ebay, Kijiji

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Anthony Bonato

Document Summary

You were engaged in marketing because you were exchanging something of value that satisfies a need. The canadian marketing association states that marketing is a set of business practices designed to plan for and present an organization"s products or services in ways that build effective customer relationships. 6. A needis when a person feels deprived of the basic necessities of life, such as food, clothing, shelter, or safety. A want is the particular way in which the person chooses to fulfill his or her need, which is shaped by a person"s knowledge, culture, and personality. The customer segment or group to whom the firm is interested in selling its products and services. The trade of things of value between the buyer and the seller so that each is better off as a result. Unlike goods, services are intangible customer benefits that are produced by people or machines and cannot be separated from the producer.