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Chapter ne

Creating and CapturingCustomer Value

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!hat Is "ar#eting$

Marketingis a process by whichcompanies create valueforcustomers and build strongcustomer relationships to capturevaluefrom customers in

return

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!hat Is "ar#eting$

The Marketing Process

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'nderstanding the "ar#etplaceand Custo(er )eeds

Customer Needs, Wants, and Demands

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'nderstanding the "ar#etplace

and Custo(er )eeds

Market oferings aresome combination ofproducts, services,

information, orexperiences oered toa market to satisfy aneed or want

Marketing myopia isfocusing only on

existing wants andlosing sight ofunderlying consumerneeds

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'nderstanding the "ar#etplace

and Custo(er )eedsCustomer Value and Satisaction!pectations

http://www.zappos.com/

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'nderstanding the "ar#etplace

and Custo(er )eeds

Marketsare the set of actualand potential buyers of aproduct

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esigning a Custo(er-ri/en"ar#eting trategy

Marketing Management "rientations

"ar#eting concept is the

idea that achieving

organizational goals

depends on knowing the

needs and wants of the

target markets anddelivering the desired

satisfactions better than

competitors do

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esigning a Custo(er-ri/en"ar#eting trategy

Marketing Management "rientations

ocietal (ar#eting concept

is the idea that a company

should make good marketingdecisions by considering

consumers wants, the

companys requirements,

consumers long-term

interests, and societys long-

run interests

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esigning a Custo(er-ri/en

"ar#eting trategy

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uilding Custo(er elationships

The overall process ofbuilding and

maintaining protablecustomer relationshipsby delivering superiorcustomer value and

satisfaction

Customer #elationship Management $C#M%

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& Ps o3 "ar#eting

Four Cs of MarketingFour Cs of Marketing

Customer solution (Product)Customer solution (Product) Customer cost (Price)Customer cost (Price) Convenience (Placement)Convenience (Placement) Communication (Promotion)Communication (Promotion)

4Pss Provide4Pss Provide