MGMA01H3 Chapter Notes - Chapter 1: The Digital Age, Online Advertising, Marketing Myopia
Document Summary
Chapter 1: marketing: creating and capturing customer value: what is marketing, marketing is managing profitable customer relationships, promising superior value and deliver satisfaction, help consumers live the brands. Marketing offerings products, services & experiences: consumers want market offering, producers suffer marketing myopia product is a tool to solve consumer problems. Customer value & satisfaction: demand & supply low $ = fail to attract but high $ disappoints, customer value & satisfaction key to development & managing customer relationships. Exchanges & relationships: build and maintain exchange relationships = customer value. Markets: managing markets = profitable customer relationships, customer managed relationships, company & competitors gain customer needs and send to marketing intermediaries, affected by major environmental forces, designing a customer driven marketing strategy. Selecting customer service: marketing management customer & design management, create market segmentation and then target accordingly. Choosing a value proposition: brans value proposition value/benefit delivers to consumer (c. a?) Improve production and distribution efficiency: may experience marketing myopia.
