chp1 - Marketing:Managing ProfitableCustomer Relationships...

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Marketing: Managing  Profitable Customer  Relationships Chapter 1
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1 - 2 What is Marketing? Marketing Defined:  “Marketing is a social and managerial  process by which individuals and  groups obtain what they need and want  through creating and exchanging value  with others” Marketing is about managing profitable  customer relationships Attracting new customers Retaining and growing current  customers Goal 1:  Define marketing and the marketing process.
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1 - 3 The Marketing Process A Five-Step Process 1. Understand the marketplace and  customer needs and wants 2. Design a customer-driven marketing  strategy 3. Construct a marketing program that  delivers superior value 4. Build profitable relationships and create  customer delight 5. Capture value from customers to create  profits and customer quality Goal 1:  Define marketing and the marketing process.
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1 - 4 Understanding the  Marketplace Needs, wants, and  demands Marketing offers:  including products,  services and  experiences Value and satisfaction  Exchange, transactions  and relationships  Markets Need State of felt deprivation Example:  Need food Wants The form of needs as  shaped by culture and the  individual Example:  Want a Big Mac Demands Wants which are backed  by buying power Core Concepts Goal 2:   Identify the five core marketplace concepts.
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1 - 5 Understanding the  Marketplace Needs, wants, and  demands Marketing offers:  including products,  services and  experiences Value and satisfaction  Exchange, transactions  and relationships  Markets Core Concepts Goal 2:   Identify the five core marketplace concepts. Marketing offer Combination of  products, services,  information or  experiences that  satisfy a need or want Offer may include  services, activities,  people, places,  information or ideas
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1 - 6 Understanding the  Marketplace Needs, wants, and  demands Marketing offers:  including products,  services and  experiences Value and satisfaction   Exchange, transactions  and relationships  Markets Value Customers form  expectations regarding  value Marketers must deliver 
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chp1 - Marketing:Managing ProfitableCustomer Relationships...

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