MGTA02H3 Chapter Notes - Chapter 2: Strategic Management, Profit Motive, Customer Relationship Management
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MGTA02H3 Full Course Notes
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Turning a concept into satisfied customers: a business is like a bicycle. Must be going forward in order to stay upright. Marketing: marketing: the business function concerned with planning and organizing the creation of a product, determining a price that people will pay, making the product known and making it available to customers. Purpose of marketing is to create exchanges, so that customers get what they need and want and the business owner makes a sale. Evolution in the strategic management of business: kotler believed in an evolution in the strategic management of business, kotler believed in an evolution in the strategic management of business. 19th century -> most business" resources had been directed on production, making goods and services. First half of 20th century -> emphasis had shifted toward sales, persuading customers to buy those goods and services. Middle of 20th century -> argued that business" resources should primarily be directed toward serving customer needs.
