AFM131 Lecture Notes - Customer Relationship Management, Green Marketing, Marketing Mix
SchoolUniversity of Waterloo
DepartmentAccounting & Financial Management
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Chapter 14 – Marketing 1
Marketing – The process of determining customer needs and wants and then developing goods and
services that meet or exceed these expectations.
Green marketing – Marketing efforts to produce, promote, and reclaim environmentally sensitive
The Evolution of Marketing
The Production Era
- Since the first European settlers came to Canada till the 1900s.
- Demand exceeded supply.
- Manufacturers focused on production.
The Sales Era
- Businesses had developed mass production techniques
- Often production capacity exceeded market demand
- Turned from emphasis on production to emphasis on selling.
The Marketing Concept Era
- After second world war, baby boom started
- Businesses fought for customers.
- Marketing concept emerged
Customer Orientation – find out what customers want and provide it to them.
Service Orientation – objective customer satisfaction.
Profit Orientation – Focus on goods that are more profitable.
The Customer Relationship Era
- 1990s, adopting the concept of CRM (Consumer relationship management) is the process of
learning as much as you can about customers and doing everything you can to satisfy them to
stimulate long-term customer loyalty.
The Marketing Mix
- Ingredients that go into a marketing program
Product – Any physical good, service, or idea that satisfies a want or need.
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Test Marketing – The process of testing products among potential users.
Brand Name – A word, device (design, shape, sound, or color), or combination of these used to
distinguish a seller’s goods or service from those of competitors.
Price – The money or other consideration (including other goods & services) exchanged for the
ownership or use of a good or service.
Promotion - All of the techniques sellers use to motivate customers to buy their products.
Marketing Research – The analysis of markets to determine opportunities and challenges and to find the
information needed to make good decisions.
1) Defining the question
2) Collecting data
Secondary data – Information that has already been compiled by others and published in
journals and books or made available online.
Primary data – Data that you gather yourself.
(Primary research technique – observation, survey)
Focus group – A small group of people who meet under the direction of a discussion leader
to communicate their opinions about an organization, its products or other issues.
3) Analyzing the research data
4) Choosing the best solution and implementing it
The Marketing Environment
Environmental scanning – The process of identifying the factors that can affect marketing success.
- Trade Agreements
- Trade restrictions
- Bar Codes
- Data interchange
- Internet changes
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