ADM 2320 Lecture Notes - Lecture 3: Customer Relationship Management, Profit Maximization, Demand Curve
9 May 2016
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Document Summary
Marketing is the organizational function and a set of process that subject to constraints, attempts to establish mutually satisfying product exchange relationship between any two interested parties. Augmented product - things that make a product attractive. e. g fly now, pay later. Gaining a competitive edge over others in the market place. Needs: difference between a consumer"s actual and some ideal or desired state. Products die all the time. lots of products tend to fail everything cause people don"t want to buy them. 3m yellow sticky tacs - needs if you who buys it, its not the company who makes you buy it. No customers are never alike part of the marketing tasks is discovering segments of the population that have similar needs. It is no longer enough to satisfy customers, you have to delight them. building relationships with the consumer is the core function of an organization. Marketing is a key element of an organization.
