BUSN 101 Lecture Notes - Lecture 3: Customer Relationship Management, Relationship Marketing, Market Environment
30 Sep 2018
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Document Summary
Marketing: the activity buyers and sellers perform to facilitate mutually satisfying exchanges. Today: marketing is helping buyers buy (online you can compare prices before buying car go into dealer knowing best price) Production era (settlers 1900s): produce as much as you can cuz there"s an unlimited market for it (there was limited production capability + vast demand back then~farmers) Selling era (1920s): mass-production techniques appeared (assembly lines)--> production capacity exceeded immediate market demand focus on selling. Customer relationship management: process of learning as much as possible about present customers & doing everything to satisfy them: build trust, emphasize the long term, listen, treat customers like stars, show appreciation, employees are customers too! Planet: consumers want it now, do new things w/ diff kinds of info in ways that create value for them, consumers want their data personalized, they also expect interactions to be simple.
