MGMT 1000 Lecture Notes - Lecture 9: Brand Loyalty, Marketing Mix, Rolex

• School: University of Guelph
• Department: Management
• Course: MGMT 1000
• Professor: Kathleen Rodenburg

Document Summary

Marketing: the activity for creating, communicating, delivering and exchanging offerings that benefit the organization, its stakeholders and society at large. Desire and ability to satisfy these needs. A way for the parties to communicate. A process of developing and implementing a strategy to plan and coordinate ways to identify, anticipate and satisfy consumer demands, with an over-riding objective of maximizing profits. It is this strategic planning process that lies at the heart of marketing: situation analysis, marketing objectives, marketing strategy, marketing tactics. Swot analysis: the situational analysis: identifying and discovering consumer needs. Consumer behaviour: the actions a person takes in purchasing and using products and services, including the mental and social processes that precede and follow these actions. A decision process underlies the visible act of making a purchase. The purchase decision process is a series of stages a buyer passes through in making decisions about which products and services to buy. The purchase decision process consists of 5 stages.