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MGM101H5 (376)

marketing notes.docx

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Dave Swanston

Marketing Notes Marketing: process of determining customer needs and wants and then developing g/s that meet or exceed these expectations Green Marketing: marketing efforts to produce, promote and reclaim environmentally sensitive products Evolution of Marketing • Production Era o European settlers arrived in Canada o Limited production capabilities and cast demand for g/s o Greatest need = distribution and storage • Sales Era o 1920s = mass production techniques and production capacity exceeded immediate market demand o Emphasis on selling and advertising • Marketing Concept Era o After WWII = baby boom o High competition o 3 parts  Customer orientation: find out what consumers want and provide  Service orientation: ensure everyone in organization has same objectives – customer satisfaction  Profit orientation: focus on g/s that will earn most profit and enable organization to survive and expand to serve more consumer wants/needs • Customer Relationship Era o Process of learning as much as possible about customers and doing everything you can to satisfy or exceed their expectations – w/ g/s over time Marketing Mix : Product, price, place, promotion Marketing Managers and the Marketing Mix: marketing managers choose how to implement 4 p’s – goals must please customers and make profit Test Marketing: process of testing products among potential users Brand Name: word, design, shape, sound, colour or combination of these used to distinguish seller’s g/s from those of competitors Price: money or other considerations used to exchange ownership of g/s Marketing Notes Promotion: all of techniques sellers use to motivate customers to buy their products Marketing Research: analysis of markets to determine opportunities and challenges and to find information need to make good decisions  Process: o Defining the question(problem or opportunity) and determine present situation o Collecting data  Secondary data: info that has already been compiled by others and published in journals and books or made available online  Primary data: data you gather yourself  Focus group: small group of people o Analyzing research data o Choosing best solution and implementing it Marketing Environment  Environmental scanning: process of identifying factors that can affect marketing success  Global factors, technological factors, sociocultural factors, competitive factors, economic factors, legal
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