BUS620 Managerial Marketing

BUS620 Managerial Marketing - enhancing customer loyalty),...

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Week 1 – BUS620: Managerial Marketing DQ’s 1. Value Assess the role the marketing function plays in creating value for customers and shareholders. Mullins and Walker (2010) contend that, “delivering superior value to customers is the key to business success, and that superior value flows from a combination of well- designed products or services, produced with high-quality; efficient operations that enable low costs and competitive prices; and reliable customer service” (pg 24). In order to create value for customers and shareholders, marketing actions must efficiently and effectively manage exchanges between individual and organization focusing on customer needs and wants and the products and services that best satisfy those needs and wants. Moreover, marketing functions focus on measuring and responding to elements such as the product/service offered (creating the most need- satisfying benefits per dollar), service delivery (building customer relationships and
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Unformatted text preview: enhancing customer loyalty), and financial accountability (providing the most desirable financial outcomes for shareholders). Mullins, J. W., Walker, Jr., O. C. (2010). Marketing management: A strategic decision making approach (7th ed.). Boston: McGraw-Hill Irwin. 2. Market Orientation Compare and contrast the advantages and drawbacks of having a marketing orientation in an organization. Make sure to include an example in your discussion. Assignment The Exchange Relationship Develop a two- to three-page paper in the correct APA writing style on the issues facing companies who must market products that may not be an easy sell. What impacts the exchange relationship when the customer does not particularly want to BE a customer (example: funeral services, diabetic equipment)? How can companies effectively approach this relationship?...
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