Understanding Marketing and Customer Relationships.docx

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UNDERSTANDING MARKETING AND CUSTOMER RELATIONASHIPS 1 Understanding Marketing and Customer Relationships Bonita Taylor MKT 421 October 30, 2017 Michael Wells
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UNDERSTAND MARKETING AND CUSTOMER RELATIONSHIPS 2 Understanding Marketing and Customer Relationships Understanding marketing as a multi-step process, building successful customers relationship is essential to helping an organization grow and achieve their goals. I will define what marketing is, the customer value proposition, and how creating relationship between the organization and is targets are mutually beneficial. I will also explain how, as a new graduate of University of Phoenix, how I can apply these concepts to my career to help with my personal brand. Marketing The American Marketing Associations (AMA) is an essential community for marketers, it defines marketing as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offers that have value for customers, clients, partners and society at large ( AMA 2013). They believe that marketing will ink the customers to the company or product. This is done by providing the necessary information about the service or product. The key to success is through addressing issues on how to collect or gathers information on the potential consumers who would use the service or product, (AMA, 2013). Marketing seeks to discover the needs and wants of prospective customer and to satisfy them. There are four factors you need for marketing to occur: Two or more parties with unsatisfied needs, desire and ability to have their needs satisfied, a way for the parties to communicate and something available to exchange. Customer Value Proposition Customer Value Proposition is (CVP) defined as a customer value proposition is a business or marketing statement that describes why a customer should buy a product or use a service. It is specifically targeted towards potential customers rather than other constituent groups such as employees, partners or suppliers (CVP, 2017). To develop compelling CVP, a
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