ARBUS101 Lecture Notes - Lecture 7: Customer Relationship Management, Charles Webster Leadbeater, Otaku

• School: University of Waterloo
• Department: Arts and Business
• Course: ARBUS101
• Professor: Zamal Ruffudeen Jr.

Document Summary

Marketing: plan and present goods to build customer relationships. Production: produce as much as possible to meet demand; demand>supply. Marketing (concept): customer, service, and profit orientated. Marketing (orientation): customer collection, sharing, creating value, ensuring customer satisfaction, and develop customer relationships, crm (customer relationship management) Charities: need to ask for support; churches: attendance is lower nowadays; politicians: why is it important for the economy. Price: ownership or use of a good bought by money or other consideration. B2b: want goods to sell, rent, or supply to others: manufacturers, intermediaries (retailers), institutions (hospitals, schools, etc), government. Fewer customers, size of business customers is relatively large, markets tend to be geographically concentrated, business buyers are generally more rational than consumers, sales tend to be direct, more emphasis on personal selling. Target marketing: which groups can be most profitable to target. Niche marketing: find a small but profitable market and make products for them. One-to-one marketing: make separate products for each consumer.