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Lecture 2

MGTA02H3 Lecture Notes - Lecture 2: Customer Relationship Management, Marketing Mix, Psychographic

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Chris Bovaird

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MGTA02- Notes
Mission: reason why a business exists, and the goals that it is trying to accomplish
Managing: process of planning, organising, leading, & controlling resources in order to
accomplish a task
Planning: determining what needs to be done to accomplish a task, & the best
way to accomplish it
Organising: assembling and preparing the resources necessary to complete a
Leading: art of guiding or inspiring others to follow; indv responsible for
determining the org’s path in the future
Controlling: setting a standard, measuring performance against the standard
&, taking action to bring performance into line
Managers: individuals responsible for planning, organising, leading & controlling resources
in order to accomplish a task
Standard: goal or intended result for the performance of an activity
System: series of connected parts or connected activities; parts are organised for common
purpose and work together
Value Chain: system of activities which a business must manage in order to transform
factors of production into "nished g/s; turn factors into things people want
Primary Activities: activities that are directly involved with making the g/s that the
business provides to its customers
Support Activities: activities that don’t directly involve customers or the making of
product but which are necessary for the org to function
Business Function:
1. Marketing: activities involved with interacting with customers
2. Operations: activities involved with transforming factors of production into g/s
customers want
3. Information Management: development of systems for collecting for collecting
data that can be organised in such a way that it produces info of use to
managers of a business
4. Accounting: system for collecting, analysing & communicating "nancial info
5. Strategic Management: activities undertaken by an org’s senior leadership to
determine the org’s long terms goals and objectives
6. Financial Management: planning, organising, leading & controlling the use of
7. Human Resource Management: activities involved with planning, organising,
leading & controlling an org’s people
Marketing: business function concerned with planning and organising the creation of a
product, determining a price that people will pay, making the product known and making it
available to customers
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