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Chapter 1

MCS 1000 Chapter Notes - Chapter 1: Interactive Marketing, Ecrm, Computerworld

by

Department
Marketing and Consumer Studies
Course Code
MCS 1000
Professor
Sergio Meza
Chapter
1

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11 Jan 2015
Chapter 1
Marketing: Customer Value, Satisfaction, Relationships, and Experiences
What Marketing Is and What it is Not
Marketing: Defined
Marketing – is the activity for creating communicating, delivering, and exchanging offerings that
benefit the organization, its stakeholders, and society at large
- This definition stresses the importance of delivering genuine benefits in the offerings of
goods, services, ideas, and experiences marketed to customers
- The organization doing the marketing, the stakeholders affected, and society should all
benefit
- To serve both buyers and sellers, marketing seeks to…
oDiscover the needs and wants of prospective customers
oSatisfy them
- Marketing uses of number of terms and concepts
Requirements for Marketing to Occur
- At least four factors are required…
oTwo or more parties (individuals or organizations) with unsatisfied needs
oA desire and ability on their part to be satisfied
oA way for the parties to communicate
oSomething to exchange
Two or More Parties with Unsatisfied Needs
- Example: two parties with unmet needs: you (1) with a need for technology-related
information, and your bookstore owner (2) needing someone to buy a copy of
ComputerWorld
Desire and Ability to Satisfy These Needs
- Example: you and the bookstore want to satisfy these needs – you have the money to buy
the item and time to get to the bookstore – store owner has desire and ability to sell
A Way for the Parties to Communicate
- Example: through the process of marketing the product – when you receive a free sample
in the mail or see it on display, the communications barrier between you (the buyer) and
your bookstore (the seller) is overcome
Something to Exchange
- Example: you exchange your money for the bookstore’s magazine both you and the
bookstore have gained something, but you are both better off because you have each
satisfied your unmet needs
The Breadth and Depth of Marketing
What is a Market?
-Market – is people with the desire and ability to buy a specific product
- All markets are ultimately people
- People who are aware of their unmet needs may have the desire to buy the product, but
that alone is not sufficient
- People must have the ability to buy, that is, have the authority, time, and money
Who Markets?
- Every organization markets
oBusiness firms involved in manufacturing (General Motors of Canada)
oRetailing (Shoppers Drug Mart)
oProviding services (Via Rail)

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oNon-profit organizations (Canadian Red Cross)
oCollege/Universities
oPlaces (Cities – Toronto)
oIndividuals (Stephen Harper – to gain attention and voter preference)
What is Marketed?
- Goods, services, ideas, and experiences are marketed
-Goods – are physical objects that satisfy consumer needs (Crest toothpaste)
-Services are activities, deeds, or other basic intangibles (Airline trips on WestJet
airlines)
- Experiences are also marketed (Personal/memorable trips)
-Social marketing marketing designed to influence the behaviour of individuals in
which the benefits of the behaviour accrue to those individuals or to the society in general
and not to the marketer
- The use of idea marketing has grown significantly
oSpecifically, idea marketing that focuses on enhancing social ends
- Social marketing can be conducted by for-profit and non-profit organizations or by
individuals
Who Buys and Uses What is Marketed?
- Both individuals and organizations buy and use goods and services that are marketed
-Ultimate consumers people whether 80 years or 8 months old who use the goods
and services purchased for a household
-Organizational buyers those manufacturers, wholesalers, retailers, and government
agencies that buy goods and services for their own use or for resale
Who Benefits?
- There are three specific group that benefit from effective marketing: consumers who buy,
organizations that sell, and society as a whole
- True competition among products and services in the marketplace ensures that we as
Canadian consumers can find value from the best products, the lowest prices, or
exceptional service
- Providing choices leads to consumers satisfaction and the quality of life
- Competition creates problems for ineffective competitors
- Effective marketing actions result in rewards for organizations that serve customers and
in thousands of marketing jobs for individual all across the country
- Effective marketing benefits society
oIt enhances competition which improves the quality of products and services and
lowers their prices
The Diverse Factors Influencing Marketing Activities
- An organization’s marketing department relates to many people, groups, and forces
- Foremost is the organization itself, whose mission and objectives determine what
business it is in and what goals it seeks
- Within the organization, organizational leaders are responsible for establishing these
goals
- The marketing department works closely with a network of other departments and
employees to help provide the customer-satisfying products required for the organization
to survive and prosper
How Marketing Discovers and Satisfies Consumer Needs
Discovering Consumer Needs
- First objective is discovering the needs of prospective customers
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