ARBUS101 Chapter Notes - Chapter 14: Root Mean Square, Consumer Behaviour, Subculture
30 Jan 2017
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Chapter 14: marketing building customers and stakeholder relationship. What is marketing: how to plan and present products/services to build effective customer relationship. Activities buyers and sellers buyers and sellers perform to facilitate mutually satis ed exchanges. Market - is a group of people with unsatis ed wants and needs who have the resources and the willingness to buy. Therefore a market is created as a result of demand for goods and services. Marketers lls the customers needs: in the past markets focused on the seller, now markets focus on the buyers. Evolution of marketing: production, sales, marketing concept, marketing orientation, social media marketing. During the production era their philosophy of marketing was to produce as much goods as possible. In those days there was limited production capabilities and large demand for product (demand exceeded supply) Emphasized selling and advertising in efforts to persuade customers to buy existing products.
