Management and Organizational Studies 1021A/B Chapter Notes - Chapter 5: Corporate Social Responsibility, Social Media Marketing, Mobile Marketing

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 1021A/B
• Professor: Michael Aloisio

Document Summary

Mos 1021 reading 5 : consumer behaviour (6-27, 35-59) Essence of successful marketing is to focus on the customers needs and developing programs that delight consumers and encourage customer loyalty. Customers don"t know what they want or know how to articulate their feelings/opinions. Digital world facilitates info gathering but creates biases: first point of contact (where consumers sees product add) Customer value-the unique combination of benefits received by buyer (quality, price, convenience, delivery, before sale and after sale service) On going programs depend on word of mouth. Added value= product design, pricing strategies, service elements. Products are designed to appeal to specific groups of consumers. Target market-the specific group of existing and potential consumers to which marketers direct their marketing efforts. The 4 ps: product-all attributes that make up a good/service/idea (product design, features, colours, packaging, warranty and service levels) Price- the expected regular retail/sale price for a product: place- the distribution channels, and merchandising used to sell a product.