BU352 Chapter Notes - Chapter 1: Business Marketing, Customer Relationship Management, Marketing Mix
Document Summary
Marketing: a set of business practices designed to plan for and present an organization"s products or services in ways that build effective customer relationships. Marketing plan: a written document analyzing the current marketing situation (swot), marketing objectives and strategy for the four ps, action programs, and projected financial statements. How the product or service will be conceived or designed, how much it should cost, where and how it will be promoted, and how it will get to the consumer. Marketing is about satisfying customer needs and wants. Lo1 define the role of marketing and explain its core concepts. 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. To understand customer needs and wants company must first identify:
