L1 Intro MKT

Marketing is engaging customers and and managing

profitable customer relationships.

Marketing is a process by which companies create value

for customers and build strong customer relationships to

capture value from customers in return.

Needs

States of deprivation:

Physical:

food, clothing,

warmth and safety

Social:

belonging and

affection

Individual:

knowledge and self

expression

Form that needs

take as they are:

shaped by

o culture and

o individual

personality

Wants backed by

buying power