406 Ch 1

406 Ch 1 - Ch. 1 Marketing encourages research and...

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Ch. 1 Marketing encourages research and innovation because people are finding more ways  to create customer satisfaction. Marketing:  is the performance of activities that seek to accomplish an organization’s  objectives by anticipating customer or client needs and directing a flow of need- satisfying goods and services from producer to consumer. Macro-Marketing This is the social process that directs an economy’s flow of goods and services from  producers to consumers in a way that effectively matches supply and demand and  accomplishes the objective of society.  Exchanges from buyers and sellers is hampered by spatial separation, separation in  time, separation of information and values, and separation of ownership. Firm’s take advantage of  economies of scale  when producing a large quantity of  narrow products. The 
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406 Ch 1 - Ch. 1 Marketing encourages research and...

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