COMMERCE 1E03 Lecture Notes - Customer Relationship Management, Marketing Mix, Psychographic

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How marketing discovers and satisfies needs: marketing program represents the target market and marketing mix = 4ps. The 4ps: controllable marketing mix factors: product (goods, services, and ideas) price, promotion includes advertising, personal selling, etc, place (also known as distribution) The uncontrollable (environmental) factors these are the environmental factors in a marketing decision and involve social, economic, technological, competitive, and legal forces they are largely beyond the control of the marketing department and the firm. An organization"s marketing department relates to many people, groups, and forces. Social media is the term commonly given to websites and online tools which allow users to interact with each other in some way by sharing information, opinions, knowledge, and interests. Twitter is pegged at > 500m existing accounts, but < 100m are active to survive in this new social media world, organizations must understand, navigate, and adapt to this new landscape.

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