MCS 1000 Lecture Notes - Lecture 1: Core Competency, Customer Relationship Management, Usenet Newsgroup

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: Sylvain Charlebois

Document Summary

Marketing is the activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners, and society at large. Delivering value to everyone affected by a transaction. Marketing creates value for society when they help to promote a worthy cause. Coca cola spends 20% of money on advertising. Power of advertising and persuasion created the image of santa. Advertising: creating, generating, and thinking of new ideas. Defining value to customers is key & value proposition of products. Core competency: the main strengths or strategic advantages of a business. Core competencies are the combination of pooled knowledge and technical capacities that allow a business to be competitive in the marketplace. Key factors: something that an organization does very well, hard to replicate, affects every single thing a company does. They manage their supply chain with an iron fist. Mcdonalds owns the building that the franchisees lease out and controls it.