MCS 1000 Lecture Notes - Lecture 2: Customer Satisfaction, Customer Experience, Organizational Culture

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: Raffi Sarmazian

Document Summary

Legal entity of people who share a common mission. Develops offerings: products, services, ideas, experiences. Creates value: for the organization and customers. Business firm: privately-owned organization that serves its customers in order to earn profit. Profit-organization: money left over after total expenses are subtracted from total revenue. Non-profit organization: non governmental organization that serves its customers but does not have profit as an organizational goal. Organizations that develop similar offerings, when grouped together. Must make strategic decisions and create as sustainable advantage relative to those of competitors. Must have a clear understanding of the industry within which it competes. A(cid:374) orga(cid:374)izatio(cid:374)"s lo(cid:374)g-term course of action designed to deliver a unique customer experience while achieving its goals. A small number of people from different departments who are mutually accountable to accomplish a task or common set of performance goals. Philosophical reason for being (cid:862)wh(cid:455) it e(cid:454)ists(cid:863) Fundamental, passionate, and enduring principles that guide its conduct over time.