Management and Organizational Studies 1021A/B Chapter 5: Lecture 5 - Intro to Marketing and the Marketing Environment

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

Document Summary

Lecture 5 - intro to marketing and the marketing. Students often believe marketing revolves around slick commercials and fancy promotions. But marketers" ultimate objectives are to drive profits for a company, or in non profit, to generate revenue and support to fund programs and run operations. Essence of successful marketing is focusing on customer needs and developing programs that delight consumers and encourage customer loyalty. Challenge is to determine the needs and understand how they can be met. Consumers may not always know what they want or not want. Introduces new communication platforms that challenge marketers to understand the biases that exist in this environment. General insights on how consumers navigate the online environment that marketers need to consider when developing marketing programs. Initial point of contact for consumers with brand is often online (website) , blog, social media site i.