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55 Pages • Complete Study Notes • Year: Pre-2021 • Previously uploaded under: MKTG1001 - Marketing Fundamentals
Introduction to Marketing What is marketing? Marketing is ... - Satisfying needs & wants & creating value - Central focus -> the customer o How do organisations structure their businesses to make an offer to customers, by satisfying their wants and needs - Successful Marketers o Identify their customers wants and needs -> market a product or service that solves their problems -> make them willing and able to pay for it - Marketing creates a central role in creating a product and making is successful - Marketing plays a role in communicating how the product is accessible to consumers - What is the medium of exchange - Sometimes marketing may not be in society’s best interest o Fast foods, tobacco and alcohol The marketing concept (TMC): Organisations need to adopt this process in order to have better success in marketing products. - Customer orientation, backed by integrating marketing activities aimed at generating customer satisfaction as a key to satisfying organisational goals.
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