MGCR 352- Midterm Exam Guide - Comprehensive Notes for the exam ( 30 pages long!)

• School: McGill University
• Department: Management Core
• Course: MGCR 352
• Professor: Emine Sarigollu

Document Summary

Marketing - the delivery of customer satisfaction at a profit. Non-profit: employ most marketing agencies to differentiate themselves. Tasks of marketing: discovering customer needs, satisfying customer needs. Marketers do not create needs, they define needs. Wants are directed to a specific product to satisfy a need. Backed by the ability to pay (demand) Delivered value the difference between total value to customer and total customer cost. Satisfy consumers by giving them highest delivered value. Product value differentiate a product through price, packaging, quality, product future, and design. Technology has undermined product value due to intensified competition. Advantages can be easily copied at low cost. It is becoming increasingly important due to amount of similar products on the market. Engineering delightful experience by recording customer personal preferences. Dissatisfied (cid:272)usto(cid:373)e(cid:396)s ha(cid:448)e (cid:373)ajo(cid:396) i(cid:373)pa(cid:272)t to(cid:449)a(cid:396)d a (cid:272)o(cid:373)pa(cid:374)y"s (cid:396)eputatio(cid:374) due to the technology in communication.