SMG MK 323 Chapter Notes - Chapter 1: Institute For Operations Research And The Management Sciences, Customer Relationship Management
20 Jan 2017
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Document Summary
Marketing is the activity, set of institutions, and processes for creating, capturing, communicating, delivering and exchanging offerings that have value for customers, clients, partners, and society at large. Product creating value: goods tangible, services intangible, ideas. = thoughts, opinions, philosophies, intellectual concepts. money, time, and/or energy in exchange of the product/service. Price capturing value: everything that the buyer gives up . Promotion communicating the value proposition: informs, persuades and remind potential buyers about a profit or service to influence their opinions and elicit a response. Marketing can be performed by both individuals and organizations. C2c (consumer-to-consumer) marketing: marketing affects various stakeholders, marketing helps create value, production-oriented era. Thursday, january 19, 2017: they need to take advantage of new technologies and connect with their customers using social and mobile media. Customer relationship management (crm) a business philosophy and set of strategies, programs, and systems that focus on identifying and building loyalty among other firm"s most valued customers.
