MKT 702 Chapter Notes - Chapter 2: Strategic Business Unit, Marketing Strategy, Customer Relationship Management
14 May 2015
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The task of any business is to deliver customer value at a profit. Buyers are informed, and choices are abundant so the value delivery process must be fine tuned. The traditional view of marketing: firm makes something and then sells it, with marketing taking place in the selling process. This view only works in economies with good shortages where consumers are not fussy about quality, features, or style: does not work in a diverse economy with ranging people and needs. Marketing is now placed at the beginning of the planning process with companies being a part of the value delivery process. The value chain: a tool for identifying ways to create more customer value. There are 9 total activities that are relevant to the value chain: 5 primary activities. Managers should examine costs and performance in each-value creating activity and look for ways to improve it: estimate competitors cost and performance as benchmarks to compare to.
