BUSI 2201U Lecture Notes - Lecture 3: Marketing Mix, Voice Of The Customer, Customer Relationship Management
Document Summary
The 4 p"s: controllable marketing mix factors: product, promotion, price, place. The 7 p primarily in the service industry. 4 p"s to 4 c"s: product customer value, price cost, place convenience, promotion communication. Customer value: the unique combination of benefits received by targets buyers that includes quality, convenience, on time delivery, and both before sale and after sale at a specific price. Value strategies: best price, best product, best service. Marketing concept era: strive to satisfy the needs of consumers, while also trying to achieve the organizations goals. Customer relationship era: market orientation, customer relationship management, customer experience. A marketing orientation is an organization its efforts on: continuously collection information about customers" needs, sharing this information across departments, using it to create customer value. Is the process of identifying prospective buyers, understanding them intimately, and developing favorable long term perceptions of the organization and its offerings so that buyers will choose them in the market place.
