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York University (12,350)
ADMS 2200 (123)
Kim Snow (26)
Chapter 1

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York University
Administrative Studies
ADMS 2200
Kim Snow

Chapter 1 – Marketing Chapter Objective 1: Define marketing, explain how it creates utility, and describe its role in the global marketplace. Marketing – organizational function and a set of processes for: - Creating, communicating, and delivering value to customers - Managing customer relationships in ways that benefit the organization and its stakeholders. Utility – want-satisfying power of a good or service - Marketing creates utility - Organizations need utility and customers to survive Production + Marketing = Utility Four Types of Utility Type Description Examples Organizational Function Responsible Form Conversion of raw - Dinner at Swiss Production materials + Chalet components  - iPod finished GS Time Availability of GS when - Dental Marketing consumers want them appointment - Canada Post Xpresspost Place Availability of GS at - Banks in Marketing convenient locations grocery stores - On-site daycare Ownership Ability to transfer title - Retail sales Marketing (possession) GS from marketer to - Purchasing a buyer new smartphone How to create customers: - Identify customer needs - Designing products to meet those needs - Communicating information - Making the products available when and where customers want them - Pricing merchandise and services - Providing service and follow-up Today’s Global Marketplace - Factors that have extended economic views o Increase in international trade agreements o Growth of electronic business o Interdependence of the world’s economies - Companies seek the most efficient manufacturing sites and most lucrative markets worldwide. - Companies are tailoring their marketing efforts to the needs and preferences of local markets. Chapter Objective 2: Contrast marketing activities during the four eras in the history of marketing. Exchange Process – Activity in which two or more parties give something of value to each other to satisfy perceived needs Example: Exchanging money for tangible goods, intangible services, or a combo of GS. Four Eras of Marketing History Era: Production Sales Marketing Relationship Prevailing - A good - Creative - The - Long-term Attitude: product will advertising consumer relationships sell itself. and selling will rules. with overcome - Find a need customers and consumers’ and fill it. others resistance and partners lead persuade them to success to buy. Approx. Time Prior to 1920s Prior to 1950s Since 1950s Since 1990s Period 1. Production Era a. Production Orientation – Stressing efficiency in producing a quality product, with attitude “a good product will sell itself”. b. Production shortages and intense consumer demand 2. Sales Era a. Sales Orientation – Customers will resist purchasing nonessential items b. Task of personal selling and creative advertising: persuade them to buy 3. Marketing Era a. Seller’s Market – Buyers > GS b. Buyer’s Market – GS > Buyers c. Shift from seller’s market to buyer’s market d. Consumer Orientation – Determining unmet consumer needs and then designing a system for satisfying them e. Emergence of Marketing Concept – companywide consumer orientation to achieve long-run success f. Strong market orientation improves market success and overall performance 4. Relationship Era a. Relationship marketing – Developing long-term, value-added relationships over time with customers and suppliers Converting Needs to Wants - To convert needs into wants, marketers: o Focus on the benefits of goods and services o Require skill o Should listen to consumer needs Chapter Objective 3: Explain the importance of avoiding marketing myopia. Marketing myopia – Management’s failure to recognize the scope of its business - Focusing on customer need satisfaction can overcome myopia - E.g. Apple developing solar-powered devices in response to customer demand for longer battery life for its devices Chapter Objective 4: Describe the characteristics of not-for-profit marketing. - Operate in pub
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