MCS 1000 Chapter Notes - Chapter 1: Customer Relationship Management, Customer Satisfaction, Marketing Week

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: l

Document Summary

They are exposed to messages tactics and programs. Attracting customers by promising and delivering superior value. Building long term relationships with customers by delivering continued customer satisfaction. Creating, building and managing these relationships profitably over time. A successful marketer is the one that closes the sale, but closing that sale requires marketers to thoroughly understand the needs of their potential customers. In the first four steps, companies work to understand customers, create customer value, and build strong customer relationships. In the final step, companies reap the rewards of creating that customer value. By creating value for their customers, they in turn capture value from those customers in the form of sales, profits, and long term customer equity. Wants needs shaped by culture and personality. The customer"s evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers. Depends on the product"s perceived performance relative to a buyer"s expectations.