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Lecture 1

MGMA01H3 Lecture Notes - Lecture 1: Customer Relationship Management

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Sam J Maglio

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2018-01-08 Monday
History of marketing
Used to have a bad rep; appeal to fear and shame
Marketing as the most important element of strategy
1948: AMA; one way street, FROM producer TO consumer
2004: AMA; ore to ay, dialogue for the producer to meet the consumer needs
Production era: very little marketing
Sales era: more relevant because more competition, and production efficiencies cause more
products created than needed
Marketing Concept era: move towards creating what the consumer wants (researching the
Market Orientation/Relationship era: listen to the consumer, have a relationship with them, much
more information available on the customer and competitor, marketing shares information to the
different departments (accounting, product development, HR) to meet the consumer needs. Long
term investment into the customer (want to them buy from you again and again)
Need: physiological
Want: felt need (marketing shape wants, cannot create need)
Customer needs: do they know that they want/need this? (unarticulated vs. articulated)
o Unarticulated: cellphone 100 years ago
o Articulated: self-driving car today
Customer types: does the product/service exist yet? (served vs. unserved)
o Served: it exists in the market
o Unserved: created to fill the market
Discovering consumer needs: 1) information about the consumers, 2) what do they need
Satisfying consumer needs: 3) ideas for products, 4) satisfying the need (Product, price, place,
promotion) through 5) goods, services, ideas
Identify opportunities: Researching the customer, what the company has to offer, who are the
competitors and what are they doing
Set strategy: categorize consumers based on demographic, behaviour, geographic etc.; target the
category that fits the company/potential product the best; position the product in the best way to
compete over other products
Implementing a marketing program: want the 4Ps to align well with the target markets
Take Away:
Marketing has become relationship focused
Marketing is about shaping needs and wants (articulated/unarticulated, served /unserved)
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