ADMS 2200 Chapter Notes - Chapter 1: Channel (Communications), Social Marketing, E-Commerce

• School: York University
• Department: Administrative Studies
• Course: ADMS 2200
• Professor: Chuck Hendricks

Document Summary

Chapter 1 marketing: the art and science of satisfying customers. Customer loyalty is the watchword for the 21st century marketing. Power of telecommunications + computer technology = inexpensive global networks. Organizations must react quickly to shifts in consumer tastes + competitive offerings. Information technologies - give organizations fast ways to interact + long-term relationships w/ customers + suppliers. Every company must serve customer needs + create customer satisfaction = success. Customer satisfaction = art imagination + creativity and science tech knowledge + skill + experience. Marketing strategies - tools that marketers use to identify + analyze customers needs & show that their company"s goods + services can meet those needs. Textbook focuses on strategies that allow companies to succeed in today"s interactive marketplace. *chapter 1- examines the importance of creating satisfaction through customer relationships. Production + marketing = essence of economic life. Utility: total satisfaction received from consuming a good or service.