Lecture (WK1)

Lecture (WK1) - Lecture (WK1) ChapterI...

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Lecture (WK1) Chapter I MARKETING'S VALUE TO CONSUMERS, FIRMS, AND  SOCIETY   Marketing provides needed direction for production and helps makes sure that  the right goods and services are produced and find their way to consumers.     MARKETING IS IMPORTANT TO YOU! As a consumer As a career It plays a big part in economic growth and development      HOW SHOULD WE DEFINE MARKETING? MICRO MARKETING DEFINED  Performance of activities that seek to accomplish an organization’s objectives by  anticipating customer/client needs and directing flow of need satisfying goods  and services form producer to consumer. Marketing begins with meeting the  customer's needs    MACRO-MARKETING DEFINED  Macro Marketing is a social process that directs an economy's flow of goods and  services from producer to consumer in a way that effectively matches supply and  demand and accomplishes the objectives of society.  Ron_Knapp_L1.doc
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   EVERY SOCIETY NEEDS AN ECONOMIC SYSTEM All economic systems must develop a method to decide what/how much to  produce and distribute by whom, when, to whom, and why.    THE ROLE OF MARKETING IN ECONOMIC SYSTEMS Planned economic systems: Government planners decide what and how much is  to be produced by whom, when, and why. Prices are set by government planners  -- works well as long as economy is simple.  Market directed systems: Consumers make choices in market place.  Price is a measure of value: Prices in production sector and consumption sector  vary to allocate resources and distribute income according to consumer  preferences. Conflicts can result.  Micro-Macro Dilemma: What is good for some producers and consumers may not 
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This note was uploaded on 06/15/2010 for the course MK 351DLB taught by Professor Joibascomb during the Spring '10 term at Park.

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Lecture (WK1) - Lecture (WK1) ChapterI...

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