Management and Organizational Studies 2320A/B Chapter Notes - Chapter 1: Marketing, Triple Bottom Line, Institute For Operations Research And The Management Sciences
31 Jan 2017
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Document Summary
Identifies values of local customers and makes global expansion possible. Marketing plan: a written document composed of an analysis of the current marketing situation, opportunities and threats for the firm, marketing objectives and strategy specified in term of the four. Ps, action programs and projected or pro forma income and other financial statements. Need: basic necessitates such as food, clothing, shelter and safety. Want: the particular way in which a person chooses to satisfy a need which is shaped by a person"s knowledge, culture and personality. Target market: the customer segment or group to whom the firm is intended in selling its products and services. Exchange: the trade of things of value between the buyer and the seller so that each is better off. Services: intangible customer benefits that are produced by people or machines and cannot be separated from the producer. Exchange of value occurs when there has been adoption or "purchasers" of the idea that the group marketed.
