COMM 223 Chapter Notes - Chapter 1: Holt Renfrew, Marketing Myopia, Market Segmentation
7 Apr 2017
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Marketing the process by which companies create value for customers and build strong customer relationships to capture value from customers in return. Marketing is how companies manage profitable customer relationships. You need to create value for your customers and you need to build strong customer relationships if you want to be successful. What one person values isn"t necessarily the same thing that someone else will value. Find out what it is that your customer values and give him what he needs manage their expectations. The goal of marketing strategies is to create long lasting relationships with your customers. Primarily it"s money, you want to be paid. But you also want referrals and good comments on your social media platforms, etc. Value is different from a business and for a customer. If you can complete all 4 steps, you capture value from customers to create profits and customer equity. Capture value from customers to create profits & customer equity.
