Business_studies_TOPIC_3.txt

  1. What is marketing?
    A system of business activities designed to plan, price, promote and distribute want-satisfying products, services and ideas to customers in order to achieve business objectives.
  2. •the role of marketing in the firm and in society.
    • IN THE FIRM
    • •find out what customers want.
    • •marketing links the firm and its customers.

    • IN SOCIETY
    • •provides greater range of goods and services.
    • •identifies customer wants
    • •increase employment
    • •satisfies customer wants
    • •can lead to better quality of life
    • •subsidises mass media (eg free local newspaper due to advertising)
    • •informs consumers of available products/services
  3. •Types of markets
Author
vanessa224
ID
73453
Card Set
Business_studies_TOPIC_3.txt
Description
Nature and Role of markets and marketing
Updated