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MKT 100 (485)
Tina West (4)

module 1

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Ryerson University
MKT 100
Tina West

Module 1 Marketing is the business function that drives innovation of products and spreads out the processes of innovation innovation and diffusion of innovation will meet the needs of consumers to create profits capital and prosperity Marketing is a function of an organization devoted to fulfilling consumers and shareholders unsatisfied needs through improving the quality of their products how these products are distributed the way these products are advertised and customer service processes Marketing is about consumers processes and profits Marketing is about doing things better than the competition in the market producing products that meet needs of consumers that have yet to be addressed and improving the quality of their product compared to those of their competitors In each industry there is a lot of variation in terms of price and quality implying that a few of them are the top quality products in their respective industries if products services or processes such as distribution and customer relationship lacks then we must fix them Marketing is not about creating an advertisement that makes false claims regarding the quality of the product they are advertising nor is it solely focused on advertising Marketing is about new inventions that increase product quality lower prices to make it more affordable and increases satisfaction consumers deriveThe competitive focus of marketing focuses on producing an innovative productservice in the industry furthermore to revolutionize distribution in the industry The history of trading and wealth creationIn Gums Germs and Steel that nations who were powerful in the past were surrounded by environments that provided the necessary resources and climates that can be used to produce tools feed their people through their fertile soil and raise animals thus leading to the development of trade and labor specialization in their culture and neighbouring culturesThe ability of a country to trade with others is now a crucial competency that is needed in order for the country to survive People who were in high ranks of authority were often what prevented their society from evolving as often they would feel threatened by the amount of change that would be brought from exposing their economies and protected markets to new ideas skills and foreign trade Because of this they have prevented access to cheaper goods and services of a much higher qualityTo avoid having a nations power stripped away from thempolitical leaders must respect promote improve the trading and marketing skills of traders today
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