MKTG 341 Chapter Notes - Chapter 1: Marketing Myopia, Joe Fresh, Customer Relationship Management
10 May 2017
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Customer value: aim of marketing ! creating value for customers & to capture value from customers in return. Centre for rehabilitation of paralyzed ! creating & capturing of customer value beyond product. What is marketing: marketing is managing profitable customer relationships, goals = 1. Keep & grow current customers (delivering satisfaction: sound marketing critical to success of every organization, new marketing approaches (ex. Social media) not only blast messages but reach you directly, personally, interactively: markets want to help you live their brands. Marketing defined: satisfying customer needs, aim to make selling unnecessary. Marketing = process by which companies create value for customers & build strong customer relationships in order to capture value from customers in return. Create value for customers & build customer relationships. Construct integrated marketing program that delivers superior value. 5 core customer & marketplace concepts: needs, wants, demands, market offerings (products, services, experiences, value & satisfaction, exchanges & relationships, markets.
