MGM101H5 Lecture Notes - Lecture 12: Psychographic, Business Marketing, Mass Media

• School: UTM
• Department: Management
• Course: MGM101H5
• Professor: Dave Swanston

Document Summary

Marketing; process of determining customer needs/wants and then developing goods/services that meet or exceed these expectations. Green marketing; marketing efforts to produce, promote, and reclaim environmentally. Sales era: general philosophy of business was to produce as much as possible, emphasis on selling, effort to persuade customers to buy existing products. Customer relationship era: crm; process of learning as much as possible about customers and doing everything you can to satisfy them. Product; any physical good, service, or idea that satisfies want/need. Test marketing; process of testing products among potential users. Defining the question and determining the present situation: what problems or opportunities are present, what the alternatives are, what info is needed, how to get the info. Environmental scanning; process of identifying factors that can affect marketing success. Consumer market; all individuals or households that want goods/services for personal consumption. Business-to-business (b2b) market; individuals and organizations that want goods/services to use in producing other goods and services to sell.