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Lecture

Management and Organizational Studies 1021A/B Lecture Notes - Customer Relationship Management, Baby Boom


Department
Management and Organizational Studies
Course Code
MOS 1021A/B
Professor
James O' Brien

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September 14, 2011
Chapter 1 Marketing Fundamentals
What's so difficult about marketing research?
Problem getting good data to answer questions
Problem of equivocal data
Problem of finding a good target group and getting to their heads (eg
children and toys, doctors and anti smoking)
Innovative examples; play labs (watching how kids interact with
toys), diaper changing parents wearing video recorders, chain
restaurants varying the menu in test markets
What can be marketed?
Goods (tangible), services (intangible) and ideas (concepts you can support)
Are there marketable entities that span these categories?
- University education?
Service- with tangible items such as textbooks that are goods
- Credit Cards
Service- small loan service but card is tangible
People wear poppies and pink ribbons (tangible items) to show the ideas
that they support
Evolution of Business Philosophies
Up to 1930s, focus on optimizing the manufacturing process
- Model T, sold in black
- Engineering- driven
Emerging of marketing stage in the 1960s. What happened?
- Post- war prosperity
- Baby boom
- Increased efficiency and competitiveness
Societal Marketing Concept
Under CSR, which= taking well-being of society into account
How does sale of bottled water reflect CSR
- Imagery used to sell product
- Contrast with environmental footprint of manufacturing
process
Should we be critical of claims along these lines?
Takeaways
What are the marketing fundamentals and how do they fit together?
Where are the gaps in your personal knowledge and understanding, and how
will you act on these?
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