BUS-2600 Lecture Notes - Lecture 1: Target Market, Mass Marketing, Customer Satisfaction

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Step 2: targeting: target market--a group that shares an underlying need that company decides to cater to, ex. Henry ford--assembly line: product concept--focus on continuous product improvements (focus on end result, ex. Apple: not inherently a bad thing, but becomes a problem when you lose sight of consumer needs (apple does a lot of research to ensure that they don"t do this) Selling concept--focus on aggressive techniques for overcoming customer resistance: ex. pyramid schemes, ex. Mary kay--selling parties: marketing concept--focus on satisfying customer needs and wants (better than competitors can, ex. Finding new ways to deliver value to customers (satisfying needs as well as culturally-shaped wants) Societal marketing concept--focus on satisfying customer needs and wants while enhancing individual and societal well-being: ex. The body shop: motive not as important as the outcome (i. e. are they motivated because they believe in the cause, or are they trying to sell more products; likely a mix of both)

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