COMM 131 Chapter : Week 1

• School: Queen's University
• Department: Commerce
• Course: COMM 131
• Professor: Ethan Pancer

Document Summary

Consumers less willing to spend, convince them with environment and experience. Marketing: process where companies strive to create value for customers and build strong customer relationships to capture value from customers in return. Our needs are physical, social, and individual. When wants are backed by buying power, they become demands. Market offerings: products, services, info, and experiences offered to satisfy needs/wants. When marketers lose sight of the real benefit and experiences provided, and solely focus on product, they suffer from marketing myopia. Market: actual and potential buyers of products/services, sharing similar needs/wants. Customers are reaching out to marketers -> customer-managed relationships (interactive) Marketing is the process of creating value for customers, and building and managing strong customer. Learning objectives 1 & 2 relationships to in turn capture value from customers. Constructing an integrated marketing program that delivers superior value. Building profitable relationships and creating customer delight. Capturing value from customers to create profits and customer equity.