MKTG 332 Lecture Notes - Lecture 1: Implicit Memory, Explicit Memory, Marketing Myopia
Document Summary
Companies have outsourced or automated many routine tasks. Workers need to take on broader responsibilities that demand critical thinking, empathy, or other abilities that computers can"t easily simulate. 92% of executives say soft skills are more important than technical skills. Personal assessment of the net worth obtained from an activity. Hedonic value: value derived from immediate gratification that comes from some activity, value is provided by the actual experience and emotions associated with consumption. Marketing strategy: way a company goes about creating value for customers: provides an effective way of dealing with competition and technological obsolescence. Firms failing to realize how their products provide value, develop marketing myopia: marketing myopia: condition where a company views itself in a product business rather than a value- or benefits- producing business. Corporate strategy: way a firm is defined and sets its general goals: associated with specific corporate culture, provides an operating orientation for the company. Operation management: deals with implementation of strategies.
