Chapter One
Creating Customer Value and Engagement
Chapter Objectives
1. Define marketing and outline the steps in the marketing process.
2. Explain the importance of understanding customers and the marketplace, and identify the five core marketplace concepts.
3. Identify the key elements of a customer-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy.
4.
Discuss
customer
relationship
management,
and
identify strategies for creating value for customers and
capturing value from customers in return.
5. Describe the major trends and forces that are changing the marketing landscape in this age of relationships.
(2)
marketing
offerings;
(3)
value
and
satisfaction; (4) exchanges and relationships;
and (5) markets.
1- Human
needs
are states of felt deprivation.
They include physical, social, and individual
needs.
These
needs
were
not
created
by
marketers; they are a basic part of the human
makeup.
Wants
are the form human needs take
as they are shaped by culture and individual
personality (e.g., an American needs food but
wants a Big Mac). When backed by buying
power, wants become
demands
.
2- Needs and wants are fulfilled through market
offerings— which represents some combination of
products, services, information, or experiences
offered to a market to satisfy a need or want.
Many sellers make the mistake of paying more
attention to the specific products they offer than to
the benefits and experiences produced by these
products,
this
is
referred
to
as
“
marketing
myopia
”.
Smart
marketers
look
beyond
the
attributes of the products and services they sell
and concentrate on creating brand experiences for
consumers.
3-
Customer Value and Satisfaction
Customers form
expectations about the value and satisfaction that various
market offerings will deliver and buy accordingly. Satisfied
customers buy again and tell others about their good
experiences. Dissatisfied customers switch to competitors
and disparage the product to others. Customer value and
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