Management and Organizational Studies 2320A/B Lecture Notes - Peter Drucker, Brand Equity, Target Market

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: Hooymeyer

Document Summary

Creating value for customers in order to capture value from customers in return. Building and managing strong brands to create brand equity. Marketing in a socially responsible way around the globe. *part of a person"s attraction depends on what their experience was in the past. The target market depends on price, product, place, and promotion. If the product isn"t good, you can return it. Service: is intangible you don"t own it. You can"t return the product, but can get a refund. *sometimes things can be both products and service (you pay for your plane ticket, but the service is getting from point a to b with as little hassle as possible) Peter f drucker: the aim of marketing is to know and understand the customer so well, the product or service fits him and sells itself . *i have a feeling you will never need to know this quote. Returning customers (3+ times) have an influence on the product.