Management and Organizational Studies 2320A/B Chapter Notes - Chapter 1: Supply Chain, Customer Satisfaction, Online Advertising

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: Kevin Thompson

Document Summary

The goal of marketing is to make selling unnecessary. Marketing: satisfy customer needs, manage profitable customer relationships. Marketing mix a set of marketing tools that work together to satisfy customer needs and build lasting customer relationships. Marketing: the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients partners and societies at large. Must also recognize the needs and rights of other groups stakeholders. The marketing process: understand the marketplace and customer needs and wants, design customer-driven marketing strategy, construct a marketing program that delivers superior value, build profitable relationships and create customer delight, capture value from customers in return. By creating value for consumers, companies capture value from consumers. Five core customer and marketplace concepts: needs, wants, and demands, market offerings, value and satisfaction, exchanges and relationships, markets. Marketing myopia: paying more attention to the specific products they offer than to the benefits and experiences produced by these products.