Business_studies_TOPIC_3.txt

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Author:
vanessa224
ID:
73453
Filename:
Business_studies_TOPIC_3.txt
Updated:
2011-03-17 03:55:14
Tags:
business studies
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Description:
Nature and Role of markets and marketing
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  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

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