Chapter 01 - 1 PrinciplesofMarketing...

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Marketing: Managing Profitable  Customer Relationships 1 1 Principles of Marketing
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Learning Objectives After studying this chapter, you should be able to: 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 1-2
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Chapter Concepts 1. What Is Marketing? 2. Understanding the Marketplace and Customer Needs 3. Designing a Customer-Driven Marketing Strategy 4. Preparing an Integrated Marketing Plan and Program 5. Building Customer Relationships 6. Capturing Value from Customers 7. The New Marketing Landscape 8. So, What Is Marketing? Pulling It All Together 1-3
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What Is Marketing? Marketing Defined Marketing  is the process by which companies  create value for customers and build strong  customer relationships to capture value from  customers in return 1-4
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What Is Marketing? The Marketing Process 1. Understand the marketplace and customer wants  and needs 2. Design a customer-driven marketing strategy 3. Construct a marketing plan that delivers superior  value 4. Build profitable relationships and create customer  satisfaction 5. Capture value from customers to create profit and  customer equity 1-5
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Understanding the Marketplace and Customer Needs Customer Needs, Wants, and Demands Needs  are states of deprivation Physical—food, clothing, warmth, safety Social—belonging and affection Individual—knowledge and self- expression 1-6
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Understanding the Marketplace and Customer Needs Customer Needs, Wants, and Demands Wants  are the form that needs take as they are  shaped by culture and individual personality Demands  are wants backed by buying power 1-7
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Understanding the Marketplace and Customer Needs Market Offerings—Products, Services, and Experiences Market offerings  are some combination of  products, services, information, or  experiences offered to a market to satisfy a  need or want 1-8
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Understanding the Marketplace and Customer Needs Market Offerings—Products, Services, and Experiences Marketing myopia  is   focusing only on existing  wants and losing sight of underlying  consumer needs Exchange  is the act of obtaining a desired  object from someone by offering something  in return 1-9
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This note was uploaded on 04/08/2011 for the course BUS 312 taught by Professor Wittenberg,h during the Spring '08 term at University of Hawaii, Manoa.

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Chapter 01 - 1 PrinciplesofMarketing...

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