COMM 131 Lecture Notes - Lecture 1: Marketing Myopia, Kaustinen, Customer Relationship Management
9 Jan 2018
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Document Summary
Twofold goal of marketing: first, attract new customers through offering superior perceived value, increase perceived benefits or decrease perceived costs, second, keep and grow current customers by continually delivering satisfaction, exceed, or at a minimum meet, expectations. What can be marketed: experiences, people, places, events. Marketing gone wrong: marketing myopia: focus on product offerings rather than the needs that the product is supposed to solve, this puts firms at risk of new, competing products that satisfy the same need at a lower price. Amy kaustinen: companies should strive to continuously evolve and adapt to customer"s, very successful companies often anticipate changes and strive to be a few needs, or else they will fail steps ahead of the market. Marketing planning: understanding the playing field, understanding who the customers are, what their needs are, and what sort of solutions should be offered, determine a strategy, how will you segment, target and then market.
