BUS 343 Chapter Notes - Chapter 1: American Marketing Association, Customer Relationship Management, Value Proposition
25 May 2011
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Document Summary
The who and where of marketing: marketing principles are used to get people to endorse ideas or to change their behaviours in positive ways. Distribution: place the availability of the product to the customer at the desired time and location. Implementation and evaluation: realize the value: before we can evaluate the relative merits of our proposed marketing decisions, we need to plan for their implementation. If decided to implement then next step is to execute, then measuring performance against the plan. Important trend right now is for companies to think of ways to design and manufacture products with a focus on environmental sustainability. To calculate life time value, companies estimate the amount the person will spend and then subtract what it will cost the company to maintain this relationship. A firm that delivers these desired benefits provides value to its customers and other stakeholders.
