33:620:301 Lecture Notes - Lecture 5: Marketing Myopia, Marketing Strategy, Neuromarketing

• School: Rutgers University
• Department: Management and Global Business
• Course: 33:620:301
• Professor: D Hamilton

Document Summary

Marketing customers, strategic, revenue, important, everywhere, innovative, Market set of actual & potential buyers of a product or service (share a particular. Marketing process create value for customers & build customer relationships. Process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. Value = perceived costs vs perceived benefits (technical, economic, service, social, emotional) Construct an integrated marketing program that delivers superior value. *capture value from customers in return to create profits & customer equity want or need that can be satisfied thru an exchange relationship) 5 c"s of marketing analysis: company, customers, competitors, collaborators, context (environment) Needs states of felt deprivation, part of being human, physical/individual needs. Wants needs that are shaped by culture & individual personality, described as. Demands wants that are backed by buying power. Needs & wants are fulfilled through market offerings (products, services, info, experiences) specific objects.