MARTINEZ, Carmina M.

9:00 10:30 TTH MGMT 1

1. Importance of studying Marketing

Products dont, contrary to popular belief, sell themselves. Generally, the

build it and they will come philosophy doesnt work. Good marketing educates
customers so that they can find the products they want, make better choices
about those products, and extract the most value from them. In this way,
marketing helps facilitate exchanges between buyers and sellers for the mutual
benefit of both parties. Likewise, good social marketing provides people with
information and helps them make healthier decisions for themselves and for
others.
Of course, all business students should understand all functional areas of
the firm, including marketing. There is more to marketing, however, than simply
understanding its role in the business. Marketing has tremendous impact on
society.
https://open.lib.umn.edu/principlesmarketing/chapter/1-3-why-study-marketing/
2. Definition of Marketing
Marketing are activities of a company associated with buying and selling
a product or service. It includes advertising, selling and delivering products to
people. People who work in marketing departments of companies try to get the
attention of target audiences by using slogans, packaging design, celebrity
endorsements and general media exposure.
http://www.investopedia.com/terms/m/marketing.asp

3. Definition of:
a. Exchange
- Is a marketplace in which securities, commodities, derivatives and
other financial instruments are traded. The core function of an
exchange is to ensure fair and orderly trading, as well as efficient
dissemination of price information for any securities trading on that
exchange. Exchanges give companies, governments and other groups
a platform to sell securities to the investing public.
http://www.investopedia.com/terms/e/exchange.asp

b. Human Needs
- A motivating force that compels action for its satisfaction. Needs range
from basic survival needs (common to all human beings) satisfied by
necessities, to cultural, intellectual, and social needs (varying from
place to place and age group to age group) satisfied by necessaries.
Needs are finite but, in contrast, wants (which spring from desires or
wishes) are boundless. See also Maslow's hierarchy of needs.
- A driver of human action which marketers try to identify, emphasize,
and satisfy, and around which promotional efforts are organized
http://www.businessdictionary.com/definition/need.html
MARTINEZ, Carmina M. 9:00 10:30 TTH MGMT 1

c. Human Wants
- Unwilling and detrimental lack of life's necessities.
- Effective desire for the satisfaction of which man has both capacity and
willingness.

http://www.economicsdiscussion.net/human-wants/human-wants-elements-
importance-and-classification-consumption-function/13580
http://www.businessdictionary.com/definition/want.html

d. Objective
- A specific result that a person or system aims to achieve within a time
frame and with available resources. In general, objectives are more
specific and easier to measure than goals. Objectives are basic tools
that underlie all planning and strategic activities. They serve as the
basis for creating policy and evaluating performance. Some examples
of business objectives include minimizing expenses, expanding
internationally, or making a profit.
http://www.businessdictionary.com/definition/objective.html