MGMA01H3 Chapter : Ch 1
Document Summary
P&g tide: build meaningful customer connections can"t copy how consumers feel about brand. Marketing activities, set of institutions & processes for creating, communicating, delivering, exchanging offerings that have value for customers, clients, partners & society focus: customers & profitability goal: attract new customers (with value) & keep old customers (satisfaction) Walmart (save $, live better), disney (dream come true), apple (think different) take care of customers, part of their life market share, profits will follow old way: telling & selling; new way: satisfy customer needs, socially responsible. Peter drucker aim of mkting is to make selling unnecessary . Marketing process: (1) understand n/w (2) customer-driven mkting strategy (3) deliver value (4) establish profitable rel"ns & customer satisfaction (5) profits & customer equity. Understanding the marketplace and customer needs: customer n/w, demands human needs states of felt deprivation physical (food), social (belonging, affection), individual (knowledge, self-expression)
