GEB 1101 Lecture Notes - Lecture 5: Relationship Marketing, Market Segmentation, Marketing Mix
Document Summary
Relationship marketing establishing long-term, mutually satisfying buyer-seller relationships. Customer relationship management (crm) using information about customers to create marketing strategies that develop and sustain desirable customer relationships. Utility the ability of a good or service to satisfy a human need. Form utility utility created by converting production inputs into finished products. Place utility utility created by making a product available at a location where customers wish to purchase it. Time utility utility created by making a product available when customers wish to purchase it. Ex: size 8 shoes in duluth available now. Possession utility utility created by transferring title (or ownership) of a product to a buyer. Consumer markets consist of purchasers and/or household members who intend to consume or benefit from the purchased products and who do not buy products to make profits. Business-to-business markets (industrial markets) are grouped broadly into producer, reseller, governmental, and institutional categories.
