COMS 299 Study Guide - Comprehensive Final Guide: Target Market, Marketing Mix, Customer Relationship Management

• School: Concordia University
• Department: Comm. Studies
• Course: COMS 299
• Professor: Harold Simpkins

Document Summary

Lesson 1: the marketing concept and its applications. Process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives. the conception, pricing, promotion, and distribution. A process that involves planning and implementing. Of goods, services, ideas, experiences, or persons. And/or organizational goals to create exchanges that satisfy individual needs or desires. Intangible: focus on efficiency of production and distribution. Selling: focus on identifying reasons for buying, match needs to products, profits based on increased sales. Marketing: t(cid:396)o(cid:374)g e(cid:373)phasis o(cid:374) ide(cid:374)tif(cid:455)i(cid:374)g (cid:272)usto(cid:373)e(cid:396)s" (cid:374)eeds a(cid:374)d (cid:373)oti(cid:448)atio(cid:374, all activities focus on customer satisfaction and retention. Socially responsible marketing: focus on societal issues. Target marketing rests on the notion that organizations can achieve higher efficiency and success if they concentrate their efforts on key groups of consumers who share certain characteristics. As the targeted consumer groups become smaller in size, an organization moves from mass marketing to individual marketing.