COMMERCE 2MA3 Study Guide - Midterm Guide: Marketing Myopia, Marketing Buzz, Swot Analysis
15 Oct 2013
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Document Summary
Types of utility: time, place, form, ownership. Globalization impacting marketing: three categories: trade agreements, interdependence of economies, technologies (internet, reasons why globalization has impacted marketing. Four eras of marketing (transitions and years: production (before 1920, sales (before 1950, marketing (1950-1990, relationship (after 1990, reasons each era existed and why did shift, shift from production to sales was because customers became more powerful. Needs, wants and marketing myopia: needs: necessities, wants: marketer convert needs into wants, marketing myopia: concentrating on products not consumers (can harm profits and future growth, myopic means short-sightedness. Non traditional marketing examples: person marketing, event marketing, place marketing, organizational marketing. Relationship marketing: having strong relationships with consumers (ex. customer service, social responsibility, have to collect all information about customers, know what they like and don"t like. Advocates vs. new customers: advocates: person who becomes loyal to product and start to tell others about it, new customers: person who is buying product for first time.
