Introduction to Marketing T1

Marketing is a process by which companies create value for customers

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

Marketing myopia is focusing only on existing wants and losing sight of underlying consumer needs.

Marketing management is the art and science of choosing target markets and building profitable relationships with them.

A brand’s Strategy is the set of benefits or values it promises to deliver to customers to satisfy their needs.

The marketing mix is comprised of a set of tools known a

the four Ps:

Customer relationship management—the overall process of building and maintaining good personnel relationships by delivering superior customer value and satisfaction.

Partner relationship management involves working closely with customers in other company departments and outside the company to jointly bring greater value to customers.