ADMS 2200 Chapter Notes - Chapter 1: Marketing Myopia, Marketing, Relationship Marketing

• School: York University
• Department: Administrative Studies
• Course: ADMS 2200
• Professor: Kim Snow

Document Summary

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. Organizations need utility and customers to survive. Conversion of raw materials + components finished gs. Making the products available when and where customers want them. Factors that have extended economic views: increase in international trade agreements, growth of electronic business, 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.