MCS 1000 Chapter Notes - Chapter 2: Computer Monitor, Swot Analysis, Marketing Mix

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: Sergio Meza

Document Summary

Organization: a legal entity of people who share a common missions: this mission motivates them to develop offerings (products, services, ideas, experiences) that create value for both the organization and tis customers by satisfying customer wants and needs. Business firm: a privately owned organization that serves its customers in order to own a pro t. Pro t: the money left after a business rm"s total expenses are subtracted from its total revenue; the reward for the risk it undertakes in marketing its offerings. Non-pro t organization: non-governmental organization that serves its customers but does not have pro t as an organizational goal: goals may be operational ef ciency or client satisfaction, must receive suf cient funds to continue operations. Strategy: an organization"s long-term course of action designed to deliver a unique customer experience while achieving its goals. Directors: oversees daily operations, spearheading strategy planning efforts, cmos are increasingly important in top management.