[MGCR 352] - Final Exam Guide - Comprehensive Notes for the exam (53 pages long!)

• School: McGill University
• Department: Management Core
• Course: MGCR 352
• Professor: Thomas Dotzel

Document Summary

Marketing: customer value, satisfaction, customer relationships, and customer experiences. Define marketing and know the basic requirements for successful marketing to occur. Explain how marketing discovers and satisfies consumer needs and wants. Distinguish between marketing mix elements and environmental elements. Describe hot market orientation differs from product orientation. The 4 ps lead to loyalty to the brand. Marketing is not just advertising and sales, every consumer decision you make is determined by the 4 ps - it affects you in everyday life. An organizational function and a set of processes for creating, communication, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. The 4 requirements for successful marketing to occur. Two or more parties (individuals or organizations) with unsatisfied needs and wants: you = hungry & a restaurant = food to sell. Something to exchange: for the most part, it is money for the consumer; the restaurant, it is food.