MCS 1000 Chapter Notes - Chapter 1: Theodore Levitt, Marketing Myopia, Voice Of The Customer

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: Sergio Meza

Document Summary

Chapter 1: markeing: creaing and capturing customer value. Markeing: the acivity, set of insituions, and processes for creaing, communicaing, delivering and exchanging oferings that have value for customers, partners and society. Markeing mix or 4 p"s of markeing: product, price, place and promoion > the markeing mix is that collecion of markeing aciviies that together accomplish the larger markeing goal of saisfying customer needs and building customer relaionships. 1- understand the marketplace and customer needs and wants. 3- construct an integrated markeing program that delivers superior value. 4- build proitable relaionships and create customer delight. The above 4 create value for customers and build customer relaionships. 5- capture value from customers to create proiles and customer equity. The above captures value from customers in return. Wants: the form needs take as they are shaped by culture and personality. Demands: wants that are backed by buying power.