MKTG101 Lecture Notes - Lecture 12: Customer Satisfaction, Customer Retention, Corporate Social Responsibility
15 Mar 2020
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Document Summary
Decisions are made to maximise customer value, based on knowledge of the market and the marketing environment. Creating, communicating and delivering value to customers. An ongoing and interrelated process of understanding, creating, communicating and delivering. The task of understanding the market, and planning, implementing and evaluating market activities. Based on an understanding of the market, the organisation can formulate a marketing plan to achieve objectives. The plan communicated how the team plans to get to where it needs/wants to be. It details how to create value, communicate the offering and deliver the offering to the market. Putting the plan into action is the implementation stage. Marketing metrics and other systems can be used to evaluate performance and enable adjustment. Mission statements; summary statement of the overarching goals of the organisation. Corporate strategy; specific but high-level plan to achieve objectives reflecting overall mission of the organisation.
