MGTA02H3 Chapter Notes - Chapter 5: Mia Hamm, Psychographic, Target Market

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10 Jun 2013
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MGTA02H3 Full Course Notes
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Just because you can make something, doesn"t mean people want to buy it. That notion that you can invent something new, doesn"t mean it is better or people will want it. As marketing managers, you figure out what people need, and figure out what people want. Problem with mice in boston in the 1940s. If a visionary entrepreneur could build a better mousetrap, first. In order to satisfy customers" needs, marketing managers must ensure they are producing goods or services that: Have features that consumers want. i. e. the right - product. At a price they can afford or are prepared to pay - price the product/service is made known - promotion that it convenient to obtain place. Well managed businesses don"t sell what they have (product focus), Well managed business sells what customers want (customer focus). Macdonald"s had long history of success and was identified with hamburgers.

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