Define marketing and identify the four (4) factors for marketing to occur – Flashcards
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factor #1
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two or more parties with unsatisfied needs
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example of two or more parties with unsatisfied needs
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boy needs gas for car
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factor #2
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desire and ability to satisfy these needs
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example of desire and ability to satisfy these needs
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person who can afford an expensive watch
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factor #3
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a way for the parties to communicate
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example of a way for the parties to communicate
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shop is in walking distance
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factor #4
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something to exchange
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example of something to exchange
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Exchanging a shirt that is too small
