BU352 Chapter Notes - Chapter 1: Institute For Operations Research And The Management Sciences, Tim Hortons, Kijiji
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Bu 352 chapter 1 assessing the marketplace. Marketing is a set of (cid:271)usi(cid:374)ess pra(cid:272)ti(cid:272)es desig(cid:374)ed to pla(cid:374) for a(cid:374)d prese(cid:374)t a(cid:374) orga(cid:374)izatio(cid:374)"s products or services in ways that build effective customer relationships. A marketing plan is a written document composed of an analysis of the current marketing situation, opportunities and threats for the firm. Marketing is about satisfying customer needs and wants. A need is when a person feels deprived of the basic necessities of life. A want is the particular way a person fulfills their need shaped by their knowledge, culture. To understand customer needs and wants the company must first identify the customers or. Market (cid:894)groups of people (cid:449)ho (cid:374)eed or (cid:449)a(cid:374)t a (cid:272)o(cid:373)pa(cid:374)y"s produ(cid:272)ts/ser(cid:448)i(cid:272)es(cid:895) Target market is the customer segment or group to whom the firm is interested in selling its products and services. Marketing traditionally has been divided into a set of four interrelated decisions known as the.
