MGM101H5 Chapter 12: MGM101 Ch. 12
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MGM101H5 Full Course Notes
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Document Summary
Chapter 12: marketing: building customer and stakeholder relationships. Marketing: the process of planning and executing the conception, pricing, promotion, and distribution of goods and services to facilitate exchanges that satisfy individual and organizational objectives. Green marketing: marketing efforts to produce, promote, and reclaim environmentally sensitive products. Enhance customer satisfaction and stimulate long-term customer loyalty. Ex. airlines offering frequent-flier programs rewarding loyal customers with free flights. Non-profit organizations prosper from marketing; use marketing to raise funds or to obtain other resources. The four ps of the marketing mix: product, price, place, promotion. Test marketing: process of testing products among potential users. Promotion: all of the techniques sellers use to motivate customer to buy their products. Marketing research: the analysis of markets to determine opportunities and challenges, and to find the information needed to make good decisions. Four key steps: defining the question (problem/opportunity) and determining the present situation. What information is needed and how to go about gathering it: collecting data.
