AFM131 Lecture Notes - Lecture 7: Social Media Marketing, Seth Godin, Charles Webster Leadbeater

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM131
• Professor: David H A

Document Summary

Markeing is a set of business pracices designed to plan for and present an organizaions" product, service or ideas in ways that build customer relaionships or aciviies that buyers and sellers perform to facilitate mutually saisfying exchanges. Market is a group of people with unsaisied wants, needs, resources and willingness to buy. Moved from helping the seller sell to helping the buyer buy. Role of the internet today sellers inform customers and culivate customer relaionships with blogs and social networking sites and buyers search for good deals and interact with each other. Atributes of the each of the eras of markeing: Producion demand exceeded supply as focus on more eicient producion. Sales supply exceeded demand therefore focus on persuading customers to buy. Market orientaion collect info on customer needs and compeitors capabiliies and share throughout the organizaion, use to create value, ensure customer saisfacion and develop customer relaionships (crm) on a long-term basis by delivering value and saisfacion.