MKTG 301 Chapter Notes - Chapter 1: Customer Engagement, Marketing Myopia, Marketing Mix
Document Summary
: the process by which companies engage customers, build strong customer relationships, and create customers value in order to capture value from customers in return. : engaging customers and managing profitable customer relationships. Marketing mix : a set of marketing tools that works together to engage customers, satisfy customer needs, and build customer relationships. The marketing process: understand the marketplace and customer needs, wants, and demands. : exchange relationships: design a customer value-driven marketing strategy. Segmentation: demographic (age, race, etc. , psychographic (lifestyle, attitude, beliefs, geographic (location, behavioral (occasion, usagery) (different from the previous 3. Targeting above: choosing which and how many segments you want to use. Selling: construct an integrated marketing program that delivers superior value. Promotion: engage customers, build profitable relationships and create customer delight. Crm: capture value from customers to create profits and customer equity. 5 core customer & marketplace concepts: needs, wants and demands, market offerings (products, services, and experiences)
