Transcription of Marketing: Creating and Capturing Customer Value - Pearson
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Marketing: Creating and Capturing Customer Value - Pearson
PART. 1 Defining marketing and the marketing Process CHAPTER. 1. marketing : Creating and Capturing Customer Value PREVIEWING In this chapter, we introduce you to the basic concepts of marketing . We start with the THE CONCEPTS question, What is marketing ? Simply put, marketing is managing profitable Customer relationships. The aim of marketing is to create Value for customers and to capture Value from customers in return. Next, we discuss the five steps in the marketing process from understanding Customer needs, to designing Customer -driven marketing strategies and programs, to building Customer relationships and captur- ing Value for the firm. Finally, we discuss the major trends and forces affecting marketing in this age of Customer rela- tionships. Understanding these basic concepts and forming your own ideas about what they really mean to you will give you a solid foundation for all that follows.
Walmart has become the world’s largest retailer—and the world’s largest company— by delivering on its promise, “Save money. Live Better.”
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