COMM 131 Chapter Notes -Marketing Strategy, Market Segmentation, Brand Management
Document Summary
A company that"s customer focused and committed to marketing=successful company. Understand and satisfy customer needs in well-defined target markets. Build lasting customer relationships based on value creation. Managing profitable customer relationships; attract new customers with superior value and keep and grow current customers with satisfaction. Recently marketers use new approaches: websites, social networks, mailbox, etc. More than just mass messaging; targeting directly and personally to live" their brands. Marketing defined: process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. Needs to go past just telling and selling" and go to satisfying customer needs. Easy sell: understand needs, develop products that provide superior value and prices, and distribute and promote effectively. Social and managerial process used to obtain what organizations need and want through creating and exchanging value with others build profitable, value-laden exchange relationships with customers.
