COMM 223 Chapter 1: Marketing: Creating and Capturing Customer Value (Kotler: Principles of Marketing, 9th Canadian ed)
9 Dec 2016
School
Department
Course
Professor
Document Summary
Chapter 1) marketing: creating and capturing customer value. Goal to attract new customers by promising superior value and to keep/grow current customers by delivering superior customer value and satisfaction. Satisfying customer needs in a socially responsible and ethical manner. Social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others. Involves building pro(cid:138)table, value-laden exchange relationships with customers. Marketing - process by which companies create value for customers and build strong customer relationships to capture value from customers in return. The marketing process: understand marketplace and customer needs and wants, design customer-driven marketing strategy, construct marketing program that delivers superior value, build pro(cid:138)table relationships and create customer delight, capture value from customers to create pro(cid:138)ts and customer equity. Five core customer and marketplace concepts: needs, wants, and demands, market o(cid:129)erings (products, services, and experiences, value and satisfaction, exchanges and relationships, markets. Physical (ex. food, clothing, warmth, and safety)
