ADMS 2200 Study Guide - Midterm Guide: Customer Relationship Management, Marketing Myopia, Strategic Planning

• School: York University
• Department: Administrative Studies
• Course: ADMS 2200
• Professor: Hendriks Charles

Document Summary

Marketing creates utility through the exchange process by getting the person the exact product they want with the right place, time etc. Identifies the marketing variables that together provide the customer satisfaction. Objective is to create customers that want to stay with you and by identifying needs, providing goods and services that those needs, pricing, and follow up services. Five areas of marketing history: production (prior to 1920s) (cid:862)a good produ(cid:272)t (cid:449)ill sell itself(cid:863) the ideology that if companies produced a product with good quality, it would sell itself: sales (prior to 1950s) (cid:862)(cid:272)reati(cid:448)e ad(cid:448)ertisi(cid:374)g a(cid:374)d selli(cid:374)g (cid:449)ill o(cid:448)er(cid:272)o(cid:373)e (cid:272)o(cid:374)su(cid:373)ers; resista(cid:374)(cid:272)e a(cid:374)d persuade the(cid:373) to (cid:271)uy(cid:863) Consumers will resist purchasing nonessential goods and services, with the attitude that (cid:272)reati(cid:448)e ad(cid:448)ertisi(cid:374)g a(cid:374)d perso(cid:374)al selli(cid:374)g (cid:449)ill o(cid:448)er(cid:272)o(cid:373)e (cid:272)o(cid:374)su(cid:373)ers": marketing (since 1950s) Marketing concept that emphasizes first determining unmet consumer needs and then designing a system for satisfying them. Marketing and selling would no longer be equal terms.