MRKT 451 Midterm: MRKT 451 Midterm #1 Notes
14 Apr 2020
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Chapter 1: marketing concept: identifying the needs/ wants of target markets and delivering the desired satisfactions, marketing strategy: Identifying target markets and delivering the product/service for targeted consumers. Success lies in customer satisfaction: marketing research: provides necessary information for developing, implementing, and controlling effective strategies, the role of marketing research. Identifying and defining marketing opportunities and problems. Monitoring marketing performance: marketing information system (mis, four subsystems of the mis, internal reports system, marketing intelligence system, marketing research system, decision support system/big data, how marketing research differs from other subsystems: Chapter 3: establish need for marketing research, continuous monitoring. Economy: montreal economy doing well, diversified economy investment in ai, tourism just for laughs/jazz fest/ f1, construction, more woman working in industry- child care subsidized. If recession what business would do well: dollarama, gold price good investment when dollar decreases, gold does not devalue. Conduct research on how to improve and offer what people want.
