MANA 298 Chapter Notes - Chapter 1: Sunart, Starbucks, In Essence
Document Summary
Chapter 1 notes: this chapter focuses on 1. Marketing process: successful companies are focused on marketing they share a passion for satisfying customer needs in respective target markets, customer relationships are very important in todays economy. Understanding the marketplace and customer needs: needs, wants and demands, the most basic concept underlying marketing is human needs, physical needs - food, clothing, warmth, safety, social needs belonging, affection. Consumers do marketing by purchasing the product: marketing involves serving a market of final consumers vs competitors, research must be done in order to interact with consumers. Final consumers make a difference in whether or not the marketing is successful. Designing a customer-driven marketing strategy: marketing management (the art and science of building profitable relationships) must design a customer driven marketing strategy, the marketing managers aim to attract grow and keep target customers by creating customer value.
