Management and Organizational Studies 1021A/B Lecture Notes - Lecture 5: Customer Relationship Management, Corporate Social Responsibility, Social Media Marketing

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

Document Summary

Customer value: the unique combination of benefits received by targeted buyers that includes quality, price and convenience, delivery, and both before-sale and after-sale service. Target market: the specific group of existing and potential consumers to which marketers direct their marketing efforts. Product: attributes that make up a good, a service or an idea, including product, designs, features, colour, packaging, warranty, and service levels. Price: expected regular retail or sale price for a product. Place: distribution channels, retail formats, and merchandising used to sell a product. Promotion: communication tools needed to inform consumers about a product, including advertising, public relations, sales promotion, direct response event marketing and sponsorship and personal selling. Marketing process: the process of 1) identifying consumer needs, 2) managing the marketing mix to meet these needs, and 3) realizing profits. Marketing: the process of planning and managing goods, services or ideas to meet consumer needs and organizational objectives.