BMGT 110 Chapter Notes - Chapter 13: Cognitive Dissonance, Consumer Reports, Sales Promotion

• School: University of Maryland
• Department: Business and Management
• Course: BMGT 110
• Professor: All

Document Summary

Activities buyers and sellers perform to facilitate mutually satisfying exchanges. Future of marketing doing everything to help the buyers buy. Put lots on info online b/c consumers spend hrs online looking for the best deals. Marketers try to fill customer needs/wants, which change w/ time. ~produce as much as possible b/c there"s a limitless market. ~philosophy logical+ profitable b/c large demand w/ limited production. ~production capacity exceeded market demand b/c mass-production tech. ~after wwii in 1945 boom in consumer spending w/ baby boomers. > customer orientation= find what consumer want + provide it. > service orientation=everyone in org has same obj satisfaction. > focus on g/s that earn most profit enable org to survive +expand. ~customer relationship management (crm)=process of learning as much as possible about present customers +doing everything over time to satisfy them w/ g/s. ~digital age increase consumer power, push marketing on-demand. >can i? do new things w/ info to create value.