HSC: Business studies- Marketing notes
Date Submitted: 09/09/2006 22:34:31
The nature and role of marketing
Marketing: A total system of activities designed to plan, price, promote and place (Distribute) products to present and potential customers
Role of marketing
·<Tab/>Find out what customers want and then attempt to satisfy their needs
·<Tab/>Bring together the buyer and the seller
·<Tab/>Generate revenue for
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Legal aspects
·<Tab/>Sales of goods Act 1923 (NSW): What must exist for a sales contract to be legal
·<Tab/>Fair trading act 1998 (NSW): Code of business conduct
·<Tab/>Trade practises Act 1974 (Commonwealth): Prohibits various restrictive trade practises such as false advertising, price discrimination, implied conditions, deceptive warranties, forcing a set price on retailer
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