MKTG-250 Lecture Notes - Lecture 5: Marketing Myopia, Customer Relationship Management, Market Segmentation
2 Feb 2018
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Document Summary
Companies create value for costumers while building strong customer relationship. Companies do it to capture value from costumers in return. In social marketing world, people selling behaviour change (ex, encouraging people to not smoke, throwing litter, etc) Marketing process: understanding the marketplace (costumer needs & wants, designing a customer-driven marketing strategy. Needs -> wants -> demands: needs, wants. Form that needs take as they are shaped by culture and individual personality. Combination of products, services, information or experience offered to a market to satisfy a need or want. The mistake of paying more attention to specific products a company offers than the benefits and experiences produced by these products. Exchange: act of obtaining an object from someone by offering something in return. A market: actual and potential buyers, marketing intermediaries. Places that make the product available for the consumers. Technological advances, political situations, major environment disaster, etc. Market segmentation: dividing the markets into segments of costumers.
