Bus 320 Chapter Notes - Chapter 1: David Barger, Jetblue, Customer Relationship Management

• School: Buffalo State College
• Department: Business Administration
• Course: Bus 320
• Professor: lai

Document Summary

Define marketing and outline the steps in the marketing process. Explain the importance of understanding customers and the marketplace, and identify the five core marketplace concepts. Identify the key elements of a customer-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy. Discuss customer relationship management and strategies for creating value for customers and capturing value from customers in return. Describe the major trends and forces that are changing the marketing landscape in this age of relationships. The aim of marketing is to create value for customers and to capture value in return. Marketing is defined as a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging value with others. Chapter 1 is organized around five steps in the marketing process (see figure 1. 1) from understanding customer needs, to designing customer-driven marketing strategies and programs, to building customer relationships and capturing value for the firm.