BA 101 Lecture Notes - Lecture 4: Fasttrack, Tech 3, Customer Survey

• School: University of Oregon
• Department: Charles H. Lundquist College of Business
• Course: BA 101
• Professor: Steve Engel

Document Summary

In conditions of uncertainty & risk: get information, collect data you believe is important & interpret it to best understanding, manage process of deciding. Organizational function & set of processes for creating, communicating, & delivering value to customers. Process of planning, collecting, & analyzing data relevant to a marketing decision. Primary data = surveys or other ways you make to find groups. Target market = group for which an organization designs, implements, & maintains marketing mix intended to meet needs of group, resulting in mutually satisfying exchanges. Manufacturing companies who use electronic sensors in their products. If the(cid:455) (cid:272)a(cid:374)"t get se(cid:374)sors, the(cid:455) (cid:272)a(cid:374)"t (cid:373)ake their produ(cid:272)ts. Process of grouping customers into market segments according to benefits they seek from product. Low tech = 5,040,000 (10% bigger / yr) High tech = 2,160,000 (20% bigger / yr) How big it is & how fast it grows. It is i(cid:373)porta(cid:374)t to keep (cid:862)ti(cid:373)efra(cid:373)es(cid:863) i(cid:374) (cid:373)i(cid:374)d.