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Chapter 15

RSM 100 - Chapter 15 - Summary Notes


Department
Rotman Commerce
Course Code
RSM100Y1
Professor
John Oesch
Chapter
15

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RSM 100Y – Chapter 15: Marketing Processes & Consumer Behaviour
Marketing Concept
The whole firm is directed toward serving customers at a profit
Value = Benefits/Costs Marketing aims to increase consumer’s 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 consumed/used
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, Bank/Investment Advisors
Marketing Environment
- Political/Legal Environment
oLobbying to gain favourable laws for products
oPublic Awareness Campaigns
- Social/Cultural Environment
oDemographics & related statistics
- Technological Environment
oNew Marketing mediums; Internet, Cellphones
oNew products to sell
- Economic Environment
oRecession
Competitive Environment
- Substitute Products
oDifferent product, fulfill the same need – Apple vs. Pear = Fruit
- Brand Competition
oSimilar products, differentiated by brand – Apple iPod vs. Zune
- International Competition
oDomestic vs. Foreign Products
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