Management and Organizational Studies 1021A/B Chapter Notes -Market Segmentation, Customer Relationship Management, Customer Retention

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 1021A/B
• Professor: Maria Ferraro

Document Summary

Marketing mix is the 4 ps- product, price, place and promo. The process: identifying customers" needs, manage the marketing mix to meet consumer needs, realize profits for the company. Market has potential consumers with both the willingness and ability to buy. Sometimes the market, target market and consumers are different groups of people and marketers need to decide on a balance. 1930"s production orientation is focusing organizational efforts on the manufacture of goods; industrial revolution; goods tend to sell no matter the quality bc of short supply, consumers needs are not a priority. 1930"s-1960"s sales orientation is focusing organizational efforts on selling as many products as possible; rise of competition; efficiency in production; products in abundance; consumer needs still not a major consideration until. Marketing orientation focused on organizational efforts to collect and use info about customers" needs to create customer value.