Chapter 1 - Market people with the desire and ability to...

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Market – people with the desire and ability to buy a specific product Product – a good, service, or idea that satisfies the customer’s needs Service – intangible activities or benefits that an organization provides in exchange for money or something of value Education is a co-produced service o Co-produced service : the consumer works with the seller to create the service experience Customer influences the quality of the service What is Marketing? o Activity for creating, delivering, communicating, and exchanging offerings… that benefit the organization, its stakeholders, and society at large. Creates products and services (form utility) Makes them available (place utility) When needed (time utility) Facilitates their purchase (possession utility) Scope of Marketing o Who markets For profit businesses Nonprofit businesses Private individuals Government o What do they market Products Services Ideas Requirements for Marketing To Occur
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This note was uploaded on 08/22/2011 for the course MKTG 3104 taught by Professor Ebcoupey during the Fall '08 term at Virginia Tech.

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Chapter 1 - Market people with the desire and ability to...

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