mos1021.docx

5 Pages
109 Views
Unlock Document

Department
Management and Organizational Studies
Course
Management and Organizational Studies 1021A/B
Professor
Bob Larose
Semester
Fall

Description
chapter1 marketing fundamental 10/7/2013 7:52:00 PM  Campaign:  public relations  advertising: TV, PRINT-BASE, ONLINE  point-of-sale material  online advertising   The essence of marketing: is focusing on the consumer  Success: focusing on consumers and providing them with value through products and services that meet their needs.  Challenge: craft marketing programs  Markets ultimate objectives: profit Marketing program  Success: focus on consumer needs and try to develop programs that delight the consumer and encourage customer loyalty.  Challenge: clearly determine these needs and understand how they can best be met with meaningful marketing approaches.  Create a distinct image for the product, setting it apart from the competition, appealing to consumers’ needs(target market)   Focus on customer value  providing customers with product services  that have added value  developing customer loyalty  -Added value: delivering outstanding value 1. pricing strategies 2. product design 3. service elements  -Customer value: is the unique combination of benefits received by targeted buyers that includes quality, price, convenience, on-time delivery, and both before-sale and after-sale service.   Target market: can be formally defined as the specific group of existing and potential consumers to which a marketer targets its marketing efforts.  ---you cannot satisfy everyone’s needs  ---marketing efforts: geared to appeal to a product’s specific target market   Marketing mix:  Product: all the attributes that make up a good/service/idea Ex: design,features,colour,packaging,warrantee,and service  Price: the expected retail shelf price and sale price  Place: distribution channels, and retailers  Promotion: communication tools to inform consumers about the product Ex: advertising, sales promotion, public relations, direct marketing and personal selling   Marketing process: 1. Identifying consumer needs 2. Managing the marketing mix to meet these needs 3. Realizing profits Marketers: -search, gather extensive information on their target markets -identify purchase motivation -responsible for generating company profits Marketing: is described as the process of planning goods, services, or ideas to meet consumer needs and organizational objectives. -objective: both buyer and sellers must be met for exchanges to occur and for profits to be realized Exchange: is the trade of things of value between buyers and sellers so that each benefits What can be marketed? ---goods, services, ideas Market: used in marketing to describe the potential consumers who have both the willingness and ability to buy a product. --diff: target market, consumers(using the product) The evolution of business philosophies  Production orientation: what I produced, what I sell - focused on manufacturing - tended to sell, regardless of quality - supply < demand - productivity low - develop production increase productivity efficient  Sale orientation: what I sell, what customers buy - focused on selling as many as possible - production more efficient - more competitive - consumer needs still not a major consideration  Marketing orientation -focuses on the “idea”  “organization should
More Less

Related notes for Management and Organizational Studies 1021A/B

Log In


OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit