Management and Organizational Studies 2320A/B Chapter 1: Marketing Chapter One

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: Gail Leizerovici

Document Summary

According to the canadian marketing association, marketing is a set of business practices designed to plan for and present an organization"s products or services in ways that build effective customer relationships. Good marketing is not a random activity; it requires thoughtful planning with an emphasis on the ethical implications of any of those decisions on consumers and society in general. Marketing is about satisfying customer needs and wants. A need is when a person feels deprived of the basic necessities of life such as food, clothing, shelter or safety. A want is the particular way in which the person chooses to fulfill his or her need, which is shaped by a person"s knowledge, culture, and personality. A market is the groups of people who need or want a company"s products or services and have the ability and willingness to buy them. Marketing is about an exchange: the trade of things of value between the buyer and the seller so.