ADM 3321 Lecture Notes - Lecture 1: Consumerism, Psychographic, Consumer Protection

• School: University of Ottawa
• Department: Administration
• Course: ADM 3321
• Professor: Michael Mulvey

Document Summary

Marketing is satisfying consumer needs and wants profitably. > the delivery of customer satisfaction in a way that benefits the organization and its stakeholders! > the study of the processes involved when individuals or groups select, purchase, use, or dispose of products, services, ideas, or experiences to satisfy needs and desires. > product or service performs as desired, delivery of social and emotional benefits, cherished memories: payer. > low cost, ease of making payments, maximize buying power: buyer. > good service before and after they make their selections. > convenience, not too time-consuming, and in a time and place that fits their schedule: influencer. > holistic thinker who organizes system of individual decisions. Market = set of actual and potential buyers of a product (or/and service). Segmentation = dividing the market into distinct groups of buyers with different needs, characteristics, or behaviour, who might require separate products or marketing mixes.