HTM 302 Study Guide - Midterm Guide: Customer Satisfaction, Services Marketing, Cognitive Dissonance

• School: Ryerson University
• Department: Hospitality and Tourism Management
• Course: HTM 302
• Professor: Rachel Dodds

Document Summary

Process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives. Are and science of finding, retaining and growing profitable customers. Why study marketing: plays important role in society, important to business for survival, profits and growth, offers career opportunities market research, retail buying, product development, marketing is not just a (cid:498)department(cid:499) but a company-wide orientation. Basic understanding is important to all business people: affects our everyday lives. Purpose of business is to create and maintain satisfied, profitable customers. Put customers first and reward employees for serving customers well. Maintaining customer satisfaction (the customer is always right) focus on delighting customers. Provide solutions to customers problems cultivate relationships, not on-time transactions: slight drops of complete satisfaction can create drop in loyalty. Need: state of felt deprivation: need for food, clothing, esteem needs: recognition. Wants: how people communicate with their needs.