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Marketing 300 Ch1 notes - Marketing 300 Ch 1 Notes...

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Marketing 300 Ch. 1 Notes - Marketing is managing profitable customer relationships - Goal is to: 1) attract new customers by promising superior value and 2) keep and grow current customers by delivering satisfaction - Marketing is not “telling and selling”, it IS about satisfying customer needs - Marketer needs to understands consumer needs, develop products that provide superior customer value, and price/distribute/promote them effectively - Marketing is a social and managerial process - Create value: understand marketplace and customer needs then design marketing strategy then construct integrated marketing program then build profitable relationships and create customer delight - Five core customer and marketplace concepts: 1)needs, wants, and demands, 2) market offerings (products, services, and experiences), 3) value and satisfaction, 4) exchanged and relationships, 5) markets - Marketing activities: o Consumer research o Product development o Communication o Distribution o Pricing o Service -
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