ADM 2320 Study Guide - Profit Maximization, Brand Loyalty, Customer Retention

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

Document Summary

Product exchange relationships : core product the dominant benefit or satisfaction that a customer expects from a good or service he or she buys, actual product tangible aspects of a product, such as the brand name,design, features, quality level, styling, augmented product a core product to which additional products and servicesmay be added to generate multiple revenue streams. Does marketing creates needs: who is most likely to be victimized by marketers, have you ever been influenced by a marketer to buy something you didn"t need? (stated needs, real needs, unstated needs, delight needs and secret needs) Are all customers alike: no they are not. Evolution of business: producton, sales, marketing orientation, marketing concept. Current state of marketing: marketing realities of today, information clutter, consumer cynicism, need for knowledge (less we know the more a firm can take advantage of us is called ignorance, globalization, brand loyalty.