AFM131 Chapter 14: Chapter 14 Marketing I Textbook Notes

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM131
• Professor: Robert Sproule

Document Summary

A set of business practices designed to plan for and present an organizations" product or service (or ideas) in ways that build customer relationships. Activities that buyers and sellers perform to facilitate mutually satisfying exchanges. A group of people with unsatisfied wants needs and the resources and willingness to buy. Change from helping the seller sell to helping the buyer buy. The internet search online for vehicle comparison of prices and feature, show up knowing what exactly what they want: no need to push the information, needs to compete for the best information. University choosing - no need to visit from campus to campus, all done online. Sellers inform customers and cultivate customer relationships with blogs and social networking sites and buyers search for good deals and interact with each other. Online reputation also matters due to comments and from other buyers, need to monitor them and respond appropriately.