AFM131 Chapter Notes - Chapter 14: Customer Relationship Management, Social Media Marketing, Market Orientation

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM131
• Professor: David H A

Document Summary

Marketing: how to plan and present products/services to build effective customer relationships. Market: group of people with unsatisfied wants and needs who have the resources and willingness to buy - find a need and fill it . Shift from a seller focus to helping the buyer buy. Produce as much as possible to meet demand. Production capacity often exceeded immediate market demand, so focus shifted to selling. Even more focused on the customer through. Using information to create value, ensure customer satisfaction, and develop customer relationships. Consumers engage with organizations and other consumers to share information, opinion, knowledge, and interests. Need to manage risk and manage your brand. Any physical good, service, or idea that satisfies a want/need. Money or other consideration exchanged for ownership or use of a good/service. How to get your product to the customer. All of the techniques used to motivate customers to buy.