MARK 201 Chapter Notes - Chapter 1: Relationship Marketing, Marketing Mix, Qwerty
Document Summary
Creating customer relationships and value through marketing. Links the organization to its customer, employees, suppliers, The activity, set of institutions, and processes for creating, communicating, and other partners for mutual long-term benefits delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Discover the needs and wants of prospective customers. Management establishes the goals of the company. Two or more parties (individuals or organizations) with unmet (unsatisfied) needs. A desire and ability on their part to have their needs satisfied. A way for the parties to communicate. Crowd sourcing websites solicit and evaluate ideas from customers. 3,000 raw ideas 1 commercial success, 40 % of products fail. Focus on what the customer benefit is. Learn from past mistakes knowledge, culture, personality) buy an idea that results in an action organization directs its marketing program. Marketing tries to satisfy both consumer needs (basic necessities) and wants (shaped by.
