MK 201 Chapter Notes - Chapter 1: Relationship Marketing, Customer Satisfaction, Target Market
Document Summary
Marketing starts and ends with the customer: what motivates a customer to take action. Needs- state of felt deprivation for basic items such as food and clothing and complex needs such as for belonging. Wants- form that a human need takes as shaped by culture and individual personality. Demands human wants backed by buying power: what will satisfy customers needs and wants. Products- anything that can be offered to the market for attention acquisition, use or consumption and that might satisfy a need or want. Services- activities of benefits offers for sale that are essentially intangible and don"t result in the ownership of anything: how do customers choose among products (services) Benefit that the customer gains from owning and using a product compared to the cost of obtaining the product. Depends on the products perceived performance in delivering value relative to a buyers expectation: how do customers obtain products.
