MKT 100 Lecture Notes - Lecture 2: Retail, Swot Analysis, Customer Relationship Management

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Yanina Chevtchouk

Document Summary

For marketers to deliver the best value to their customers, they must leverage the full potential of their internal capabilities: work effectively with their partners (suppliers, distributors, financial institutions, research firms, advertising firms) o. Constantly evaluate and respond to the competitive environment. Marketing is shaped by forces and players within a firm. Marketing can be performed by both individuals and organizations. Around the world, through social media, etc. Product orientation: focus on developing and distributing innovative products without caring about how it satisfies a customer"s need because a good product would sell itself. Build a product first then worry about selling it. Sales orientation: focus on selling as many products as possible rather than focusing on what customers really want. Focus on each sale rather than build a long term relationship and if a consumer tried their product, they would like it. Marketing orientation: focus on what customers want and need before they design, make or sell.