Management and Organizational Studies 1021A/B Lecture Notes - Lecture 5: Marketing, Harvard Business Review, Pizza Pizza

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

Document Summary

If organizations do this well, then they don"t need to do selling. The marketing process: identify consumer needs, manage the marketing mix to need consumer needs. 4 p"s: realize profits for a company (or objectives for non-profit organizations, a logical process that focuses on consumer needs. For marketing to occur : two or more parties with unsatisfied needs (1) Large enough group to make it worth while: another party with the desire and ability to satisfy those needs (2) Meets those wants, address demands: a way for these two groups to communicate effectively (3) Be able to talk to each other. Common context: something of value for each party to exchange (4) Not just handing over money; could be time/attention/information/support. What is consumer behavior: consumer behavior describes those actions an individual takes and the decisions, successful marketing is understanding how customers behave an individual makes in the process of purchasing and using a product.