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Management and Organizational Studies 1021A/B Lecture Notes - Earth Hour, Corporate Social Responsibility, National Do Not Call Registry

Management and Organizational Studies
Course Code
MOS 1021A/B

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MOS 1021
Lecture 1
American Marketing Association:
“Marketing is an organizational function and a set of processes for creating,
communicating, and delivering value to customers and for managing customer
relationships in ways that benefit the organization and its stakeholders”
“Generating profit by focusing on customers and providing them with value
through goods and services that meet their needs.”
“A practical application of psychology, sociology, economics, and
Customer Value:
- Unique combination of benefits received by targeted buyers
- Includes quality, price, convenience, delivery, service before and after the
- Different customers will get different types of value from the same
- A single product will not satisfy everyone
Target Market: The specific group of existing and potential customers we will
focus our marketing on
Marketing Mix (The 4 P’s)
Product: Can refer to a good, a service or an idea
- Good – something tangible that you can touch/feel (ie. Smartphone)
- Service – intangible (i.e. Wireless Provider)
- Idea – a concept that looks for support (ie. Earth Hour)
Decisions Include: Design, Features, Packaging, Warranty, and Service Levels
Place: Where to sell? Distribution channels, retail formats, wholesalers, or online
Price: Expected regular retail or sale price for a product
- What will we charge?
- What is our target market willing to pay?
- What are we trying to communicate with our price? (upscale vs budget)
Promotion: Communication tools needed to inform customers about a product,

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including advertising, public relations, sales promotion, direct response, event
marketing and sponsorship, and personal selling
The Marketing Process: (A logical process that focuses on consumer needs)
1) Identify customers needs
2) Manage the marketing mix to meet consumer needs
3) Realize profits for a company (or objectives for non-profit organizations)
Potential customers who have both the ability and willingness to pay
Actual users of the product
Evolution of Business Philosophies:
Product Orientation (<1930): manufacturing focused. Manufactured goods
tended to sell regardless of their quality, because they were in short supply
Sales Orientation (1930-1960): selling as many products as possible focused.
The market was more competitive and production more efficient.
Marketing Orientation (1960s): focusing organizational efforts to collect and use
information about customers needs to create customer value
Relationship Marketing Orientation (1990s): create long term links with
customers, employees, suppliers, and partners to increase loyalty and customer
- Relationship can last before and after the sale occurs
Trends driving relationship marketing
Internet technology allows unprecedented information capture
-Social Media: online media that allows members to create their own
network of friends and contracts to share comments, videos, and images
as a form of self-expression
- Database Technology-Customer Relationship Management (CRM):
building and maintaining profitable customer relationships by delivering
superior customer value and satisfaction
(EXAMPLE. Capturing information at checkout, for example if someone is
pregnant they would buy a pregnancy test)
- Corporate Social Responsibility (CSR): Customers want to be associated
with businesses that share their interests, so CSR considers the well-
being of society by taking responsibility for how their businesses impact
(EXAMPLE. BMO reducing greenhouse gases, CIBC run for the cure)
New Marketing Practices:

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Experiential Marketing: Consumers directly interact with brands (word of
Partnership Marketing:
- Associations between brands that result in increased profits for both
brands that couldn’t have been achieved separately
- Can be both short term (promotional partnerships) or long-term
(strategic alliances)
Metrics: measure and monitor business performance through data that is
collected; Routine Metrics are measured against marketing plan targets and look
at elements such as sales, market share, profit margins, and profit levels.
Program-specific metrics analyze specific marketing programs and measure
performance against benchmarks and targets.
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