RSM100Y1 Chapter 15: RSM 100 - Chapter 15 - Summary Notes
Document Summary
Rsm 100y chapter 15: marketing processes & consumer behaviour. 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. Social/cultural environment: lobbying to gain favourable laws for products, public awareness campaigns, demographics & related statistics. Technological environment: new marketing mediums; internet, cellphones, new products to sell, recession. Brand competition: different product, fulfill the same need apple vs. pear = fruit, similar products, differentiated by brand apple ipod vs. zune, domestic vs. foreign products. Target market: group of people who have same wants/needs. Market segmentation: dividing the market into various types of people.
