Lecture 2_Ch 1 - Chapter 1: Creating Customer Relationships...

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Chapter 1: Creating Customer Relationships and Value Through Marketing Professor Jade DeKinder
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What You Will Know… { How to define Marketing { What the marketing mix elements are { How organizations build customer value through marketing
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What is Marketing? { Marketing seeks To discover the needs and wants of prospective buyers and to satisfy them. { The key to achieving these objectives is through exchange Exchange: the trade of things of value between buyer and seller so that each is better off
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Marketing Definition (AMA) { Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.
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Factors Affecting Marketing
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Requirements for marketing to occur { Two or More Parties with Unsatisfied Needs { Desire and Ability to Satisfy These Needs { A Way for the Parties to Communicate { Something to Exchange
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Discovering Consumer Needs { Meeting needs with new products “Focus on the consumer benefit” “Learn from the past”
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Benefits and Showstoppers
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This note was uploaded on 04/11/2008 for the course MKT 337 taught by Professor Mcallister during the Spring '07 term at University of Texas.

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Lecture 2_Ch 1 - Chapter 1: Creating Customer Relationships...

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