Chapter 1 notes - C hapter 1 Managers should: Analyze,...

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Chapter 1 Managers should: Analyze, predict, estimate how many, determine, estimate price, decide, estimate competing, figure out. Marketing drives organizations to focus on what it takes to satisfy the customer. When and where you want or need them. Defining Marketing: a. Micro view as a set of activities performed by organizations and also from a macro view as a social process (production- distribution system) b. Aim of marketing is to identify customers needs and meet those needs so well that the product sells itself. c. Marketing should begin with potential customer needs not with the production process. d. Marketing doesn’t occur unless two or more parties are willing to exchange something for something else. MACRO-MARKETING a. Emphasis is on how the whole marketing system works. b. Role is to effectively match this heterogeneous supply and demand and at the same time accomplish society objectives. c. Pg 9 diagram a. Discrepancies of quantity : producers prefer to product and sell in large quantities. Consumers prefer to buy and consume in small quantities. b. Discrepancies of Assortment: producers specialize in producing a narrow assortment of goods and services. Consumers need a broad assortment.
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c. Spatial separation: producers tend to locate where it is economical to produce while consumer are located in many scattered places. d. Separation in time: Consumers many not want to consume goods and services at the time producers would prefer to produce then and time may be required to transport goods from producer to consumer. e. Separation of technology: producers value goods and services in terms of costs and competitive prices. Consumers wale them in terms of satisfying needs and their ability to pay f. Separation of ownership: producers hold title to goods and services that they themselves do not want to consume. Consumers want goods and services that they do now own. d. Economies of scale: company produces larger numbers of a particular product, the cost of each unit of the product goes down. a.
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This note was uploaded on 09/21/2011 for the course PA 490 taught by Professor Davies-macla during the Winter '08 term at Grand Valley State University.

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Chapter 1 notes - C hapter 1 Managers should: Analyze,...

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