MGM101H5 Chapter Notes - Chapter 14: Customer Relationship Management, University Of Toronto Mississauga, Sales Promotion
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MGM101H5 Full Course Notes
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Document Summary
Chapter 14: marketing: building customer and stakeholder relationships. Process of planning and executing the conception, pricing, promotion, and distribution of goods/services to facilitate exchanges that satisfy individual and organizational objectives. Group of people with unsatisfied wants and needs who have the resources and willingness to buy products. Created as a result of this demand for goods/services. Marketing efforts to produce, promote and reclaim environmentally-sensitive products. Evolution of marketing involved four eras: production, sales, marketing and customer relationship. 1990 - general philosophy of business was to produce as much as possible. Demand exceeded supply; given limited production capabilities and vast demand for products, such production orientation was both logical and profitable. Manufacturers focused on production, as most goods were bought as soon as they became available. 1920 - businesses had developed mass production techniques and production capacity often exceeded the immediate market demand. Philosophy turned emphasis on selling + advertising to persuade consumers to buy existing products.
