Marketing MKT 3343 Chapter Notes - Chapter 2: Teach For America, Privately Held Company, Nonprofit Organization

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Chapter 2: developing successful organizational and marketing strategies. Lo 2-1: describe three kinds of organizations and the three levels of strategy in them. Organization: a legal entity that consists of people who share a common mission. Types of organizations: for-profit organizations, nonprofit organizations, government agencies. For-profit organization: a privately owned organization that serves its customers to earn a profit so that it can survive. Profit: the money left after a for-profit organization subtracts its total expenses from its total revenues and is the reward for the risk it undertakes in marketing its offerings. Ex: census bureau provides population and economic data. Nonprofit organization: a nongovernmental organization that serves its customers but does not have a profit as an organizational goal, but to achieve operational efficiency or client satisfaction. Government agency: a federal, state, county, or city unit that provides a specific service to its constituents.

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