ADMS 2200 Lecture Notes - Lecture 1: Channel (Communications), History Of Marketing, Sustainable Products
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ADMS 2200 Full Course Notes
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Marketing an organizational function and a set of processes for: Creating, communicating, and delivering value to customers. Managing customer relationships in ways that benefit the organization and its stakeholders. Organizations must create utility and customers to survive. Utility want-satisfying power of a good or service. Making the products available when and where customers want them. Providing service and follow-up: five eras in the history of marketing. Production orientation stressing efficiency in producing a quality product, with the attitude toward marketing that a good product will sell itself : characterized by production shortages and intense consumer demand. Sales orientation customers will resist purchasing nonessential items. Task of personal selling and creative advertising is to persuade them to buy. Shift from a seller"s market to a buyer"s market. Strong buyer"s market created the need for consumer orientation. Emergence of marketing concept a companywide consumer orientation to achieve long-run success. A strong market orientation improves market success and overall performance.