MGTA02H3 Chapter Notes - Chapter 5: Air Canada, Procter & Gamble, Marketing Mix
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MGTA02H3 Full Course Notes
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Chapter 15: understanding marketing processes and consumer behavior. Markets also promote ideas (don"t drink and drive) Marketing environment relationship marketing: a type of environment that emphasizes lasting relationships with customers and suppliers (can result in long term satisfaction and customer loyalty) < harley. Owners group (h. o. g) external factors: outside factors that influence marketing programs by posing opportunities or threats (5 environments- political/legal, social/cultural, technological, economic, competitive political/legal environment: ex. The research process market research: the systematic study of what buyers need and how best to meet those needs (improves accuracy and effectiveness of market segmentation) Market research is usually used when a new or altered product is being considered. People buy athletic shoes for durability, comfort and performance (hard-core loyalists buy only one brand, switchers buy various brands) Market segmentation must be done carefully; a lot of people may share one category (age) but be totally different in another (tastes) < ex.
