MKT 340 Chapter Notes - Chapter 1: Mobile Marketing, The Digital Age, Social Media Marketing
25 Mar 2016
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Document Summary
Markeing involves creaing value for customers and building strong customer relaionships in order to capture value from customers in return. Keep and grow current customers by delivering saisfacion. The act of obtaining a desired object from someone by ofering something in return. Consists of creaing, maintaining, and growing desirable exchange relaionships with target audiences. Marketers build strong relaionships by consistently delivering superior customer value. Figure 1. 1 - the markeing process: creaing and capturing customer value. This igure presents a simple, ive-step model of the markeing process for creaing and capturing customer value. In the irst four steps, companies work to understand consumers, create customer value, and build strong customer relaionships. In the inal step, companies reap the rewards of creaing superior customer value. The rewards are in the form of sales, proits, and long-term customer equity. Markeing process - understanding the marketplace and customer needs. Core customer and marketplace concepts: needs, wants, and demands, market oferings (products, services, and experiences)
