MGMT 1 Lecture Notes - Lecture 13: Relationship Marketing, Retail, Mass Marketing
Document Summary
Activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, partners, and society at large. Orientation has changed from helping the seller to helping the buyers buy. Production era: focus on increasing productivity, virtually unlimited demand. Selling era: with mass production, focus shifted to advertising and selling. Marketing concept era: during the prosperous post-war years, modern marketing was born to focus on customers, service, and profit. Customer relationship marketing (crm): develop long-term relationships with customers. Mobile/on-demand era: creatively use mobile technology and social media. Product: a good, service, or idea that satisfies a consumer"s want or need. Test marketing: testing product concepts among potential product users. Brand name: a word, letter, or a group of words or letters that differentiates one seller"s goods from a competitors. Promotion: all techniques sellers use to inform people about their products and motivate them to purchase those products.
