COMMERCE 2MA3 Chapter Notes - Chapter 1: Relationship Marketing, Marketing Myopia, Customer Relationship Management
25 May 2016
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Chapter 1 - marketing: the art and science in satisfying customers. Utility want-satisfying power of a good or service. Ex/ take this class for some sort of utility. If your utility is your mark, and a+ will give you maximum utility. Types of utility: form, time, place (accessibility of goods and services at current location, ownership (transferring goods from seller to buyer) Organization must create utility for customers to survive, so a marketer"s activities are: identifying customer needs, designing products or services to meet those needs. R&d research and development, a department that does a marketing function but not a marketing activity: communicating information. Advertising, public relations, etc: making the products available when and where customers want them. Provide place and time utility: pricing merchandise and services, providing service and follow-up. Exchange processes activity in which two or more parties give something of value to each other to satisfy perceived needs. Yes, marketing still happened, but it was not successful.
