Management and Organizational Studies 1021A/B Lecture Notes - Lecture 5: Social Media Marketing, Tim Hortons, Corporate Social Responsibility

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 1021A/B
• Professor: Sarah Ross

Document Summary

Marketing: the process of planning, managing goods, services or ideas to meet consumer needs and organizational objectives. Consumer behaviour: the actions a person takes when purchasing and using products and services. Customer needs: states of felt deprivation, including physical, social and individual needs. Customer value: benefits received by targeted buyers, including quality, price, convenience, delivery. Target market: the specific group of existing and potential consumers to which marketers direct their marketing efforts. Goal is to ensure that each element of the marketing mix appeals to the characteristics of the target group. Market: potential consumers with both the willingness and the ability to buy a product. Barbie target market is kids, market is their parents. Canadian marketing association: professional body for the marketing industry. Relationship marketing: process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction. Less expensive to maintain customers than get new ones.