AFM 131- Final Exam Guide - Comprehensive Notes for the exam ( 34 pages long!)

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM131
• Professor: Bob Sproule

Document Summary

Marketing: how to plan and present products/services to build effective customer relationships. Market: group of people with unsatisfied wants and needs who have the resources and willingness to buy (cid:862)find a need and fill it(cid:863) helping buyer buy. Produce as much as you can to meet demand. Production capacity often exceeded immediate market demand, so focus shifted to selling supply>demand. Marketing concept era 1950-1990 three-part business philosophy: customer orientation, service orientation, profit orientation. Even more focused on the customer through: collecting information, sharing information throughout organization, using information to create value, ensure customer satisfaction, and develop customer relationships customer relationship management (crm) Social media marketing era 2010-2020: consumers engage with organizations and other consumers to share information, opinion, knowledge, and interests. Need to manage risk and manage your brand connecting and responding directly to customers reduce marketing costs. Have you ever publicly praised or criticized a company for its products or services.