MKTG1001 Lecture Notes - Lecture 1: Customer Satisfaction, Relationship Marketing

• School: University of Newcastle
• Department: Marketing
• Course: MKTG1001
• Professor: Thomas

Document Summary

Marketing-week one learning objectives: define marketing and outline the steps involved in the marketing process. Identify and discuss the 5 core marketing concepts and the links between them. Marketing is an activity, processes and set of institutions for creating, communicating and delivering and exchanging offerings that have value for customers, clients, organizations and society at large. 1. creating value for customers and building customer relationships- understanding the marketplace customer needs and wants, designing a customer driven marketing strategy, constructing an integrated marketing program that delivers superior value, build profitable relationships and create customer delight. 2. creating value for customers in return- capture value from customers to create profits and consumer equity. *needs are the most basic concept underlying marketing. Humans have many complex needs including physiological, psychological and social. When a need is not satisfied, a person will either try to reduce the need or look for an object that will satisfy it.