Accounting MRK108 Lecture Notes - Lecture 1: Target Market, Peter Drucker

• School: Seneca College
• Department: Accounting
• Course: Accounting MRK108
• Professor: Ruggero

Document Summary

Customer = buy value: target marketing (specific): 4 p"s (cid:894)co(cid:374)trolla(cid:271)le (cid:448)aria(cid:271)le of (cid:373)arketi(cid:374)g(cid:895: 1. Delighting your customer: competition is fierce. You go to your flight a(cid:374)d figure that you do(cid:374)"t ha(cid:448)e a seat. Refund: we"re ready to go, was(cid:374)"t your fault they overbooked, unacceptable. Have a open seat in 1st class and upgrade you: your happy, word of (cid:373)outh: (cid:862)they (cid:373)essed up, (cid:271)ut upgraded me to first class, competition: they have good emotion/experience = returning customer. Marketing: improving products, making life easier through design, opportunity. Management orientation towards customer satisfaction: b. Activity and process used to apply the philosophy. Marketi(cid:374)g: (cid:862)the a(cid:272)ti(cid:448)ity,(cid:863) set of i(cid:374)stitutio(cid:374)s, a(cid:374)d pro(cid:272)ess for (cid:272)reati(cid:374)g, communication, deliverying, and customers, clients, partners, and so(cid:272)iety at large. (cid:863) For customers and other stakeholders: good, services, ideas, values, benefits. Peter drucker quote: (cid:862)the ai(cid:373) of (cid:373)arketi(cid:374)g is to k(cid:374)o(cid:449) a(cid:374)d u(cid:374)dersta(cid:374)d the (cid:272)usto(cid:373)er so well, the product or service fits (the customer) and sell itself. (cid:863)