ADMS 1010 Lecture Notes - Lecture 9: Marketing Myopia, Mass Production, Production Function

• School: York University
• Department: Administrative Studies
• Course: ADMS 1010
• Professor: Paulette Burgher

Document Summary

Lecture 10 getting the word out (marketing, public relations, and communications) Marketing: activities, institutions, processes, communicating, delivering, exchanging offerings, value for customers, clients, society at large. Marketing is much broader than just advertising. Advertising is the most visible face of marketing: estimates of advertising exposure: up to 5000 ads/day, vast changes in advertising methods over the years. Failure of growth industries: belief that growth is assured expanding, affluent population, belief that there is no competitive substitute (cf. Competing on resources : too much faith in mass production, preoccupation with product (vs. customer) The view that an industry is a customer-satisfying process, not a goods-producing process, is vital for all businessmen to understand. An industry begins with the customer and his needs, not with a patent, a raw material, or a selling skill. Given the customer"s needs, the industry develops backwards, first concerning the physical delivery of customer satisfactions.