MGM101H5 Chapter Notes - Chapter 12: Customer Relationship Management, Baby Boom, Marketing Mix
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MGM101H5 Full Course Notes
Verified Note
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Chapter 12- marketing: building customer and stakeholder relationships. Marketing- the process of determining customer needs and wants and then developing goods and services that meet or exceed these expectations. Green marketing- marketing efforts to produce, promote, and reclaim environmentally sensitive products. The evolution of marketing: the production era. Produce as much as possible but given the limited production capabilities and the vast demand for products in those days, such production oriented was both logical and profitable as demand > supply. Marketing was for distribution and storage: the sales era. Emphasis on selling and advertising (mass production techniques made production capacity > immediate market demand) in effort to persuade consumers to buy existing products but few offered service after the same: the marketing concept era. Baby boom = boom in consumer spending. Organizations recognized need to be responsive to consumers if they wanted to get their business, and philosophy called marketing concept emerged which included:
