MGMT 1 Chapter Notes - Chapter 13: Test Market, Mass Marketing, Consumer Behaviour
Document Summary
Marketing : activity, set of institutions, processes for creating, communicating, delivering, exchanging offerings that have value for customers, clients, partners, & society at large. Activities buyers and sellers perform to facilitate mutually satisfying exchanges. Help buyers buy also helps seller sell. Ex: college campuses uses podcasts, virtual tours, live chats, to make on-campus visits less necessary. Make sure company"s products/ services are easily found online, responds effectively to potential customers. Online communities: provide an opportunity to observe people interacting with others, expressing their own opinions, forming relationships, commenting on various goods/ services. Marketers can track what they"re doing to help. What marketers do depends on what they need to do to fill customers" needs & wants. 4 eras: production, selling, marketing concept, customer relationship. Production era (european settlers) (cid:392)produce as much as you can, bc there is limitless market for it(cid:393) Limited production capability & vast demand for products. Soldiers & beginning families demand for goods/ services.
