these that, through the exchange process, satisfies consumer or business customer needs; a bundle of attributes including features, function, benefits, and uses. Products have:
Marketing: Real People, Real Decisions
Chapter Learning Objectives
When you have completed your study of this chapter, you should be able to:
• Define the marketing concept. • Define the objective of marketing. • Understand the basics of marketing
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Marketing: Real People, Real Decisions
Exchange of Value (continued)
• To be meaningful to marketers, wants need resources.
• Demand: customers’ desire for products coupled with the
• Marketplace: any location or
medium used to conduct an exchange.
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Marketing: Real People, Real Decisions
(Almost) Anything Can Be Marketed