MKTG 2800 Lecture Notes - Lecture 1: Relationship Marketing, Swot Analysis, Target Market
4 Feb 2017
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Document Summary
Person feels physiologically deprived of basic necessities such as food, clothing, water. Felt need that is shaped by knowledge, culture, personality. Marketing tasks: discover needs, satisfying consumer needs. Costs: monetary (money, temporal (you end up buying more than you want, psychological (keep thinking about the decision should i get it or no, pros/cons, behavioral. Exchange: people giving up something in order to get something. Relationship marketing: building long-term relationships with customers by satisfying their needs promptly and accurately. Primary data: data does not already exist needs to be collected. Observational data: watching people, mechanical and electronic approaches, personal approaches. Questionnaire data: asking people, idea generation through in-depth interviews and focus groups, idea evaluation by mail, online, telephone, and personal surveys. Critical issues: never use weaknesses in this part. Alternative evaluation: narrow down alternatives (mac vs. pc) Feeling of anxiety after buying a product. Alternative product life cycle curves: high-learning product, low-learning product, fashion product, fad product.
