33:630:301 Lecture Notes - Lecture 1: Voice Of The Customer, Customer Relationship Management, Marketing Myopia

• School: Rutgers University
• Department: Marketing
• Course: 33:630:301
• Professor: Methot

Document Summary

Overview: marketing is, customers, strategic, revenue, important, data analytic, the product, the price, the place. Question: markeing is the process by which companies create ___________ for customers and capture _____________ in return: products; revenue, services; costs, value; value, problems; complaints. Defining value (cid:2203)(cid:2187)= (cid:2187)(cid:2200)(cid:2185)(cid:2187)(cid:2204)(cid:2187)(cid:2186) (cid:2158)(cid:2187)(cid:2196)(cid:2187)(cid:2188)(cid:2202)(cid:2201) (cid:1846) (cid:1866)(cid:1864) (cid:1867)(cid:1866)(cid:1867)(cid:1865) (cid:1845) (cid:1845)(cid:1867)(cid:1864) (cid:1865)(cid:1867)(cid:1867)(cid:1866)(cid:1864) (cid:2187)(cid:2200)(cid:2185)(cid:2187)(cid:2204)(cid:2187)(cid:2186) (cid:2159)(cid:2197)(cid:2201)(cid:2202)(cid:2201) (cid:1846) (cid:1866)(cid:1864) (cid:1867)(cid:1866)(cid:1867)(cid:1865) (cid:1845) (cid:1845)(cid:1867)(cid:1864) (cid:1865)(cid:1867)(cid:1867)(cid:1866)(cid:1864) Question: the value of an offering is its perceived ____________ minus its perceived. ___________: benefits; price, benefits; costs, usefulness; price, wants; needs. Customer needs, wants, demands: needs, states of felt deprivation, part of being human, e. g. physical needs, individual needs, wants, needs shaped by culture and individual personality, described as specific objects, demands, wants backed by buying power. Question: to a recreational soccer player, what do these nikes represent: need, want. Market offerings: market offerings fulfill customer needs & wants, marketing myopia: focus on company"s needs instead of customers" needs and wants.