MGTA02H3 Chapter Notes - Chapter 5: Subculture, Psychographic, Burberry

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

Document Summary

The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods ad services to create exchanges that satisfy individual and organization goals. Consumers need and wants are the forces that drive marketing. Study of marketing focuses on providing value and unity for consumers. Consumers buy products that offer that best value when it comes to meeting their needs and wants. Value and utility: utility: ability of a product to satisfy a human wants or needs, 4 kinds of utility. Time utility: makes products available when consumers want them. Place utility: makes product available where customers can conveniently purchase them. Ownership utility: conveniently transferring ownership from store to customers. Form utility: making products available in the first place by turning raw materials into finished ornaments. Consumer goods: products that the consumers buy for personal use: firms that sell these are engaged in consumers marketing.