Management and Organizational Studies 1021A/B Lecture Notes - Lecture 5: Travel Website, Marketing Myopia, Customer Relationship Management

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 1021A/B
• Professor: Hayden Woodley

Document Summary

Marketing: the process of first understanding and then planning, managing, communicating, and delivering a product that satisfies customers" needs/wants/demands and achieves organizational objectives. Marketers" main objectives are to drive profits for a company, or if working in the non-profit sector, to generate revenue and support to fun programs and run operations. Consumers: that aggregation of individuals who are most likely to use a product. Successful marketing is focused on customer needs and developing programs that delight customers and encourage loyalty. Consumers are often not sure themselves what they want. Choices in some categories like fragrances or luxury cars are often not rational. The digital world adds another level of complexity. It facilitates online gathering of information, but also introduces new communication platforms that challenge marketers to understand the biases that exist on them. Travel industry is a good example of where marketers spent time to understand consumers online needs: