MGMA01H3 Chapter 1: Chapter 1 Marketing.docx

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15 Apr 2012

Document Summary

Chapter 1 marketing: creating and capturing customer value. Successful companies have 2 thing in common : strongly customer focused, heavily committed to marketing. Goals of marketing: to attract new customers by promising superior value, grow current customers by delivering satisfaction. Apple: think different) know that if they care of their customers, market shares & profits will follow. Traditional forms of marketing: commercials, magazines, mail. New marketing approaches: imaginative websites, internet chat rooms, social networks, interactive tv and cellphones aim to reach you directly and personally. Marketers aim to become part of your life and enrich your experiences with their brands. Marketing as satisfying customer needs in a socially responsible & ethical manner. Marketing mix: a set of marketing tools that work together to satisfy customer needs and build lasting customer relationships. Five core customer & marketplace concepts: needs, wants, and demands, market offerings (products, services, and experiences, value and satisfaction, exchanges and relationships, markets, customer needs, wants, and demands: