ADM 1300 Lecture 22: Marketing

• School: University of Ottawa
• Department: Administration
• Course: ADM 1300
• Professor: Matthew Archibald

Document Summary

Marketing: a set of processes designed to plan for and present an organization"s products or services in ways that build customer relationships. Marketing segmentation: the process of dividing the entire market into several similar groups. : convenience (2% fat milk), shopping (furniture), speciality (watches), unsought goods (casket), industrial goods (for long time, tractors), services (consulting services). Market research: study of what buyers need and how to meet those needs. Data mining: application of electronic technologies to collect information and target products in the market. The marketing mix: product, price, place (distribution), promotion. Product: more than just the physical good (brand), branding, packaging, size, shape, color, image. Developing new products: idea development, screening new ideas, business analysis, product development, testing marketing, full introduction. Product life style consists of the following. Introduction stage: consumer awareness and acceptance of the product Growth stage: sales increase, pro ts peak, then starts to decline as new companies enter the market.