MARK 452 Study Guide - Final Guide: Marketing Myopia, Crowdsourcing, Reference Group
8 Dec 2018
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Chapter #1 marketing: creating and capturing customer value (lecture 1) Marketing the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. Wants the form that human needs take as they are shaped by culture and individual personality. Demands human wants that are backed by buying power. Market offerings some combination of products, services, information, or experiences offered to a market to satisfy a need or want. Marketing myopia the mistake of paying more attention to the specific products a company offers than to the benefits and experiences produced by these products. Exchange the act of obtaining a desired object from someone by offering something in return. Market the set of all actual and potential buyers of a product or service. Marketing management the art and science of choosing target markets and building profitable relationships with them.
