MARK 201 Lecture Notes - Lecture 1: Marketing Mix, Corporate Social Responsibility, Customer Engagement
14 Mar 2017
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Chapter 1 marketing: creating and capturing customer value: define marketing and outline the steps in the marketing process. Creating value for customers and building strong relationships to capture value from customers in return: managing profitable customer relationships, discovering and satisfying needs. Keeping and growing current customer base: goals, understanding the marketplace and customer needs: 5 core concepts, needs, wants, and demands, market offerings, value and satisfaction, exchanges and relationships, markets. Core concept 1: customer needs, wants, and demands. Marketing is both a process and a cycle. The process involves identifying customer needs and developing products to satisfy those needs. The cycle involves the mutual value generated between buyer and seller. Think of a recent purchase you have made and identify the value delivered to you and returned to the company from whom the purchase was made. Think beyond the mere exchange of money for product: designing a customer-driven marketing strategy, marketing management:
