COMM 223 Study Guide - Midterm Guide: Marketing Mix, Customer Relationship Management, Rollerblade
19 Oct 2017
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Document Summary
Core marketing concepts text figures 1. 1, 1. 2, & 1. 6. All parties in the chain seek to be profitable, otherwise the exchange process will breakdown. Companies also seek to build relationships with their partners in the value chain: crm customer relationship management - is the overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction. Expanded model of the marketing process figure 1. 7. Still useful when demand exceeds supply or product costs are too high. Consumers favour products with the best: quality, performance & features. The idea that consumers will not buy enough of the firm"s products unless it undertakes a large scale selling and promotion effort. Risky as it focuses on the immediate sales transaction not on building relationships. The idea that achieving organizational goals depends on knowing the needs and wants of the target markets and delivering the desired satisfactions better than competitors do.
