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Chapter 1

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


Department
Administrative Studies
Course Code
ADMS 2200
Professor
Kim Snow
Chapter
1

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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
materials +
components
finished GS
- Dinner at Swiss
Chalet
- iPod
Production
Time
Availability of GS when
consumers want them
- Dental
appointment
- Canada Post
Xpresspost
Marketing
Place
Availability of GS at
convenient locations
- Banks in
grocery stores
- On-site daycare
Marketing
Ownership
(possession)
Ability to transfer title
GS from marketer to
buyer
- Retail sales
- Purchasing a
new
smartphone
Marketing
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

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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
Attitude:
- A good
product will
sell itself.
- Creative
advertising
and selling will
overcome
consumers’
resistance and
persuade them
to buy.
- The
consumer
rules.
- Find a need
and fill it.
- Long-term
relationships
with
customers and
others
partners lead
to success
Approx. Time
Period
Prior to 1920s
Prior to 1950s
Since 1950s
Since 1990s
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
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