ADM 2320 Study Guide - Comprehensive Final Exam Guide - Time, Psychographic, Marketing Mix

• School: University of Ottawa
• Department: Administration
• Course: ADM 2320
• Professor: Gurprit Kindra

Document Summary

Marketing: the organizational function and a set of process that subject to constraints, attempts to establish mutually satisfying product exchange relationships between any two interested parties. Marketing view of a product: core benefit or service, packaging, features, brand name, quality. Evolution of business: marketing missions: pre-1945 -> today. The marketing concept: marketing concept: identify and satisfy customer needs while making a profit. Information clutter: declining brand loyalty, consumer cynicism, need for knowledge, globalizations. Relationship building marketing of today: super-fast marketing, super-value marketing, guarantee marketing, network marketing, synergistic marketing, marketing engineering, upside down/crowd marketing. Satisfying needs to relationship marketing: consumer satisfaction -> consumer relationships. Investment in products -> investment in customers: one-off -> relationship-building, marketing segmentation -> customer analysis, short-term profit max -> long-term wealth max. Relationship marketing: drivers of relationship marketing, technology, need for real time mr, need for integrating begin and manufacturing, need for knowledge, need for dialogue and integrated communications.