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RSM100Y1 (431)
John Oesch (214)
Chapter 15

RSM 100 - Chapter 15 - Summary Notes

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University of Toronto St. George
Rotman Commerce
John Oesch

RSM 100Y Chapter 15: Marketing Processes & Consumer Behaviour Marketing Concept The whole firm is directed toward serving customers at a profit Value = BenefitsCosts Marketing aims to increase consumers value Time Utility Value by making a product available when needed Place Utility Making an object available where consumers can buy it Ownership Utility Satisfies want by being consumedused Form Utility Creates value by being in a useable form Marketing Promotes - Consumer goods (Consumer Marketing) - Industrial goods (Industrial Marketing) - Services (Service Marketing) - Ideas Relationship Marketing: Emphasizes lasting relationships with customers - Car Dealers, BankInvestment Advisors Marketing Environment - PoliticalLegal Environment o Lobbying to gain favourable laws for products o Public Awareness Campaigns - SocialCultural Environment o Demographics & related statistics - Technological Environment o New Marketing mediums; Internet, Cellphones o New products to sell - Economic Environment o Recession Competitive Environment - Substitute Products o Different product, fulfill the same need Apple vs. Pear = Fruit - Brand Competition o Similar products, differentiated by brand Apple iPod vs. Zune - International Competition o Domestic vs. Foreign Products
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