MGTA02H3 Chapter Notes -Brand Equity, Mail Order, Smart Card

• School: UTSC
• Department: Management (MGT)
• Course: MGTA02H3
• Professor: Chris Bovaird

Document Summary

Marketing planning and executing the development, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy both buyers" and sellers" objectives. Marketing concept the idea that the whole firm is directed toward serving present and potential customers at a profit. Value relative comparison of a product"s benefits versus its costs = benefits/cost. Utility ability of a product to satisfy a human want or need. Time utility- makes products available when consumers want them. Place utility makes products where consumers can conveniently purchase them. Ownership utility conveniently transferring ownership from owner to customer. Form utility turning raw materials into finished ornaments. Consumer goods products purchase by individuals for their personal use. Industrial goods products purchased by companies to use directly or indirectly to produce other products. Services intangible products, such as time, expertise, or an activity that can be purchased.