ADMS 2200 Study Guide - Life Insurance, Swot Analysis, Citizen Action

• School: York University
• Department: Administrative Studies
• Course: ADMS 2200
• Professor: Nicolette S Richardson

Document Summary

Understand marketing process: identify the five core marketplace concepts, identify the key elements of a customer-driven marketing strategy, identify the integrated marketing plan and the program, discuss customer relationship management, ways of capturing value from customers. Core marketplace concepts diagram: market offerings ideas, product, service, organization, information, customers, customers, value & satisfaction. Separate market into segments, choose right segment to target, make product, differentiate it, sell it and build relationship, nurture long-term relationship. Marketing will choose product best satisfying needs. Societal marketing customers favour products from companies that help society (eco friendly csr) (customer - needs, company profit, society human welfare) Promotion is two-way communication (most used of 4 c"s) Market targeting (select by according to criteria, time, cost for customers, patents, margin, return for company) vs. market. Market differentiation (does product give additional value to customer) Need: functionality, level of service, features and benefits, price, value, customer value, characteristics.