ch1Intro - Chapter 1 Creating Customer Relationships and...

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Chapter 1 Creating Customer Relationships and Value Through Marketing Fundamentals of Marketing Judy Foxman Senior Lecturer of Marketing
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Definition of Marketing “Marketing is the activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, its stakeholders and society at large.” (American Marketing Association)
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What is Marketing? Marketing is the delivery of customer satisfaction at a profit . Attract new customers by promising superior value. Keep current customers by delivering satisfaction.
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Goals of Marketing Discover (assess) the needs and wants of prospective customers. Satisfy these needs and wants through EXCHANGES
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Sales vs. Marketing “There will always be a need for some selling. The aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product fits him or her and sells itself. Ideally marketing should result in a customer ready to buy.” Peter Drucker
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Basic Marketing System Industry (a collection of sellers) Market (a collection of buyers) Communication Goods/services Money Information
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ch1Intro - Chapter 1 Creating Customer Relationships and...

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