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Ch 1
What is Marketing?
Marketing has been defined by the AMA as an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.
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Key Point
To practice marketing; to implement the marketing concepts; to implement marketing strategy, managers must make decisions. Many decisions require additional information and marketing research is needed in order to supply that information.
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Components of an MIS
Internal Reports System Accounting information systemdata from income statement, etc. Marketing Intelligence System... Information coming from outside the firm Marketing Decision Support System (DSS)database with analytical tools Marketing Research System
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