Book Notes Chapter 1

Book Notes Chapter 1 - Production- actually making goods or...

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Production- actually making goods or performing services o Marketing provides needed direction for production o Customer Satisfaction- extent to which a firm fulfills a customer’s needs, desires, and expectations o Innovation- the development and spread of new ideas, goods, and services Marketing- performance of activities that seek to accomplish and organization’s objectives by anticipating customer or client needs and directing a flow of need satisfying goods and services from producer to customer or client o Applies to profit and nonprofit organizations o More than just persuading customers o Begins with customer needs o Provides direction for production o Builds a relationship with the customer Macro-Marketing- Social process that directs and economy’s flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes the objectives of society o Does not focus on individual organizations, rather it focuses on how the whole marketing system works. How does marketing affect society and vice versa? o
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Book Notes Chapter 1 - Production- actually making goods or...

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