MKTG3501 Lecture Notes - Lecture 3: Customer Satisfaction, Social Media Marketing, Theodore Levitt
Document Summary
Lecture 3 creating and capturing customer value. Recall the basic premise of needs, wants, value and satisfaction. Meeting standards operating trouble free performing as expected product uniformity. The idea of the value chain is based on the process view of organisations, the idea of seeing a manufacturing (or service) organisation as a system, made up of subsystems each with inputs, transformation processes and outputs. Inputs, transformation processes, and outputs involve the acquisition and consumption of resources - money, labour, materials, equipment, buildings, land, administration and management. How value chain activities are carried out determines costs and affects profits. Inbound logistics - involve relationships with suppliers and include all the activities required to receive, store, and disseminate inputs. Operations - are all the activities required to transform inputs into outputs (products and services). Outbound logistics - include all the activities required to collect, store, and distribute the output.
