Marketing: Customer Relationship Management

Customer relationship management (CRM): The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction. (Software that keeps your files, banking systems have all your information stored). The software can be assessed from wherever because its on the companies server. CRM entails cultural changes: CRM is an overall company…

Marketing: Distribution and Supply Chain

Nature and importance of marketing channels: Marketing channel: the set of individuals or firms involved in the process of making a product available. Intermediaries: Individuals or firms performing a role in the marketing channel, involved in making a product available. Functions performed by intermediaries: –          Transactional function: This is done when they buy and sell…

Market research & development

Marketing information system (MIS): A set of procedures and processes for collecting, sorting, analyzing, and summarizing information on an ongoing basis. Market research: The process of collecting and analyzing information in order to recommend actions to improve marketing activities. Research classifications: Exploratory research: Preliminary research conducted to clarify the scope and nature of the marketing…

Marketing: Values, beliefs and attitudes

Learning: Behavioral learning: The process of developing automatic responses to a type of situation built up through repeated exposure to it. Marketers use: Stimulus generalization: Using the same brand name to launch new products is a common application. Stimulus discrimination: Ability to perceive differences among similar products. Cognitive learning: Involves making connections between two or…

The Marketing Environment: Competitive Forces

The marketing environmental scan: The process of continually acquiring information on events occurring outside the organization to identify trends, opportunities and threats to your business. 6 forces marketers look at: Demographic forces: The statistical data on a population according to characteristics such as age, gender, ethnicity, income and occupation. Socio cultural forces: Cultural values, ideas,…

Marketing mix & Marketing fundamentals

The essence of marketing: –          Focusing on customer needs –          Creating customer value (Achieved by delivering outstanding value through the combination of (1) pricing strategies, (2) product design, and (3) service elements. –          Appealing to target markets –          Coordinating the marketing mix Customer value: The unique combination of benefits received by targeted buyers that includes…

Types of Globalization

Financial globalization Interconnection of the world’s financial systems e.g. stock markets More of a connection between large cities than of nations Example: What happens in Asian markets affects the North American markets. Economic Globalization A worldwide economic system that permits easy movement of goods, production, capital, and resources (free trade facilitates this) Example: NAFTA, EU,…

External Influences Affecting the Marketing Mix

Economic Influence

Economic Trends
Domestic and International Trade

Competitive Influence

Market Structure
Competitive Strategy
Competitive Position

Social and Demographic Influences

Demographic Trends
Multiculturalism
Lifestyles
Ecological Concerns

Technological Influence

Advances
Research and Development Investment
Information Technology

Legal and Regulatory Influence

Federal Laws/Regulations
Provincial Laws/Regulations
Self-regulation

What is Branding and Positioning

BRANDING AND POSITIONING PACKAGING Who packages the items? Raw material processors, manufacturers, retailers Why and how are things packaged? Protection Convenience Information Environmentally Friendly Promotion Appearance and Branding Packaging is often referred to as “THE SILENT SALESPERSON” 6 FUNCTIONS OF PACKAGING Protection Protect from breakage (bubble wrap, foam) Protect from germs, air, sunlight, dust/dirt (air…

Trading between Canada and Jamaica

Canada and Jamaica enjoy close, longstanding, and historic bilateral relations that include hemispheric and international cooperation, security and defence cooperation, trade and investment links, official development assistance, tourism, and a large Jamaican community in Canada estimated at 230,000 people. Canada and Jamaica cooperate within the Commonwealth, the United Nations and the Organization of American States.…