Management and Organizational Studies 1021A/B Study Guide - Midterm Guide: Greenwashing, Software, Agnosticism

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 1021A/B
• Professor: Sarah Ross

Document Summary

Mos midterm #2 introduction to marketing & the marketing. Marketing: the process of planning and managing goods, services or ideas to meet consumer needs and organizational objectives. Consumer behaviour: the actions a person takes when purchasing and using products and services. Takes the psychology and what and why we buy. Marketers objectives are to drive profits (create revenue in the case of non-profit organizations) The success of marketing depends on the customer needs. Needs: states of felt deprivation, including physical, social and individual needs. Successful marketing focuses on customer need and developing programs to encourage customer loyalty. The biggest challenge for marketers is to determine consumer needs, since they often do(cid:374)"t share (cid:449)hat the(cid:455) (cid:449)a(cid:374)t. The unique combination of benefits received by targeted buyers that includes quality, price, convenience, delivery and both before-sale and after-sale services. Companies goal is to create products with added value compared to their competitors. Companies should reward customers for their loyalty.