CHAPTER 1

Marketing Selling and advertising are just a part of the

Deals with customers
Managing profitable customer relationships
A social and managerial process by which
individuals and organizations obtain what they
need and want through creating and exchanging
marketing mix- a set of marketing tools that work
together to satisfy customer needs and build customer
relationships.
The Marketing Process

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value with others.
Involves building profitable, value-laden
exchange relationships with customers.
Process by which companies create value for

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customers and build strong customer
relationships in order to capture value from
customers in return.

Twofold goal

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1. Attract new customers by promising superior
value
2. Keep and grow current customers by delivering
satisfaction

Marketing in the old sense

- telling and selling
Marketing in the new sense
send t qee r uela i gdit t e hsy g t y
-satisfying customer needs

If the marketer understands consumer needs;

Understanding the Marketplace and Customer needs
develops products that provide superior customer
FIVE CORE CUSTOMER AND MARKETPLACE CONCEPTS
value; and prices, distributes, and promotes them
1. Needs, wants and demands
effectively, these products will sell easily. 2. Market Offerings (products, services and
experiences)
Aim of marketing accdg. to Peter Drucker: 3. Value and satisfaction
The aim of marketing is to make selling unnecessary 4. Exchanges and relationships
5. Markets
CHAPTER 1

*Marketers did not create these needs; they are

a basic part of the human makeup.

Wants
Customer Needs, Wants and Demands
Human needs
- States of felt deprivation
- Include basic physical needs for food, clothing,
warmth, and safety; social needs for belonging
and affection; and individual needs for
knowledge and self expression.
- Form human needs take as they are shaped by
culture and individual personality.
- Shaped by ones society and are described in
terms of objects that will satisfy those needs.
- When wants are backed up by buying power,
they become demands.
-