Management and Organizational Studies 2320A/B Chapter Notes - Chapter 1: Marketing Myopia, Customer Relationship Management, American Marketing Association

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: Gail Robertson

Document Summary

Chapter 1: marketing - creating & capturing customer value. Managing and building profitable customer relationships by: promising superior value, delivering satisfaction. Satisfying customer needs in a socially responsible and ethical manner. A process by which companies create value for customers and build strong customer relationships to capture value from customer in return. Understand the marketplace and customer needs and wants. Construct a marketing program that delivers superior value. Capture value from customers and create profits and customer equity: understanding the marketplace and customer needs. Wants: form that needs take when shaped by culture, society, marketing & individual personality: described in terms of objects that will satisfy needs. Demands: human wants that are backed by buying power. Marketing offerings: combination of: products, experiences, people, services, places, organizations. Offered to a market to satisfy a need or want: information, ideas. **services activities or benefits offered for sale that are essentially intangible and do not result in the ownership of anything.