MKT 2210 Study Guide - Quiz Guide: Customer Relationship Management, Marketing, Marketing Mix

• School: University of Manitoba
• Department: Marketing
• Course: MKT 2210
• Professor: Brock COrdes

Document Summary

Marketing is about understanding needs of customer, so that organization can distinguish its o erings from its competitors. Production orientation: focuses on products because of a lack of product options in the marketplace, customers have to accept whats o ered. Sales orientation: companies need to sell the product to customers because there is now competition, sales pitches encouraged. Marketing company orientation: coordination of marketing activities such as advertising, sales, and public relations. Customers grouped into segments that are understood by marketers, and then become targets. Societal marketing orientation: looking not only at what customer wants but what society wants (recycling, reduced waste, healthier products) Relationship marketing orientation: focuses on keeping and improving relationships with current customers, focus on delighting customer (2% increase in retention = 10% decrease in cost) Customer relationship management: helps marketers understand customer on individual level, listen, act, share stories. Exchange: giving up one thing to receive another that they would rather have.