MGMA01H3 Chapter Notes - Chapter 1: Customer Relationship Management, From The Inside Out

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disseminating: a reduction in the gap implies an increase in the utility consumers associate with a product or service. the result is that consumers are more likely to enter into an exchange relationship with the marketing organization. Marketing is about exchange: exchange process is when two or more parties give something of value to one another to satisfy felt needs, item is usually tangible. example: newspaper: however, there are cases where there are intangible services. example: concert performance: specialization and division of labour will lead to a production surplus, example: george is a good weaver, bad farmer. It is beneficial for both to specialize in each other"s line of work to increase production www. notesolution. com. Marketing defined: macro level (societal, marketing is defined as the development of systems that direct an economy"s flow of goods from producers to consumers.