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ADM2320 (142)
Chapter 1

ADM2320C Chapter 1 - Overview of Marketing

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Department
Administration
Course
ADM2320
Professor
Ajax Persaud
Semester
Fall

Description
ADM2320C Chapter 1Overview of MarketingSeptember1211 1130 AM What is marketing Advertising and selling a product or service to a specific group of people so that they want it and yneed it Marketing is a set of business practices designed to plan for and present an organizations yproducts or services in ways that build effective customer relationships Marketing is about satisfying customer needs and wantsNeed when someone feels deprived of the basic necessities of life such as food clothing shelter yor safetyWant the particular way in which someone decides to fill fulfill his or her need which is shaped by ya persons knowledge culture and personality Market groups of people to whom an organization is interested in marketing its products yservices or ideas Marketing entails a value exchange Exchange the trade between a buyer and seller so that each is better off as a result yThe fundamental purpose of marketing is to create value for both the firm and the customer yValue is in essence what you get for what you give upMarketings core aspects Marketing occurs in many settings universities nonprofit sector yMarketing helps create value y o Productionoriented era turn of the 20th century
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