Management and Organizational Studies 2320A/B Lecture : Mos.docx

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

Document Summary

Most simplest definition marketing is managing profitable customer relationships : attract customers promising value, deliver satisfaction. Satisfying customer needs as opposed to telling and selling. Marketing the activity, set of institutions, processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Theodore levitt: brand experience by orchestrating several services and products (something beyond just the product) Customer value and satisfaction: customers form expectations. Tell others about their satisfaction (buzz marketing) Exchanges and relationships: exchange act of obtaining a desired object from someone by offering something in return. Markets: market set of all actual potential buyers of a product or service. Marketing means managing markets to bring about profitable customer relationships. Marketing management the art of science of choosing target markets and building profitable relationships with them: aim is to find, attract, keep, grow customer target customers by creating, delivering, communicating superior customer value.