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

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

Document Summary

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 communications. Unique combination of benefits received by targeted buyers. Includes quality, price, convenience, delivery, service before and after the sale. Different customers will get different types of value from the same product/service. A single product will not satisfy everyone. Target market: the specific group of existing and potential customers we will focus our marketing on. Product: can refer to a good, a service or an idea. Good something tangible that you can touch/feel (ie. smartphone) Idea a concept that looks for support (ie. earth hour) Decisions include: design, features, packaging, warranty, and service levels.