MKT 350 Lecture Notes - Lecture 1: Consumer Behaviour, Customer Relationship Management, Mass Marketing
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Marketing 350 Day 1
Marketing is the activity, set of institutions and processes for creating, communicating, and
delivering offerings that have value for customers, clients, partners, and society.
Consumer behavior is the study of consumer’s choices during searching, evaluating, purchasing
and using products/services that they believe will satisfy their needs.
CB is interdisciplinary: we borrow concepts from several disciplines:
• Psychology, sociology, economics, etc
• We focus on the personal consumer; the organizational consumer is the focus of B2B
How is the stage of disposal relevant for Consumer Behavior?
-Think of all the ways that disposal of a product affects what you buy or what you do?
Two themes: Sustainability and the use of technology
Concept: Marketing consists of satisfying consumers’ needs, creating value, retaining customers,
companies must produce only those goods that they have determined would satisfy consumer
needs and meet organizational goals.
Production Concept-> Product Concept -> Selling Concept -> Marketing Concept
Low Cost High quality hard selling satisfy needs
Mass marketing over-engineering transaction-based need-based
Foundations of Marketing Concept:
• Mission statement- emphasis on customer needs and not product features (marketing
myopia) emphasis on global needs
Mission statement answers the question: Why are you in business?
• Organizational Structure: importance of marketing within the organization. Marketing
should drive other functions within the organization such as sales, production,
accounting, finance, etc
• Attitudes and procedures
• Consumer research: companies want to know everything about you
• Marketing segmentation, targeting, positioning
• The marketing mix (4 P’s)
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