Fundamentals of Marketing - Introduction to Marketing by https://padlet.com/ronaldoyee_161/sb9uwdouyf2m en-us 2017-04-23 09:33:07 UTC 2018-02-07 04:53:26 UTC hello@padlet.com What is marketing ronaldoyee_161 https://padlet.com/ronaldoyee_161/sb9uwdouyf2m/wish/167668325 Marketing is the process of building customer relationship with the intend to make a profit
Companies create value for customers with the attempt to capture value from them in return.
At the end of the day, they build strong relationship with their customers]]> 2017-04-23 09:36:30 UTC https://padlet.com/ronaldoyee_161/sb9uwdouyf2m/wish/167668325 Marketing Process ronaldoyee_161 https://padlet.com/ronaldoyee_161/sb9uwdouyf2m/wish/167668513
  • Understand the customer's needs, wants and the marketplace
  • Design a customer-driven marketing strategy
  • Construct an integrated marketing program that delivers superior value
  • Build profitable relationships and create customer delight
  • Capture value from customers to create profit and customer equity
    • ]]>     2017-04-23 09:41:22 UTC https://padlet.com/ronaldoyee_161/sb9uwdouyf2m/wish/167668513     Process 1: Understand the marketplace and the customer's needs and wants ronaldoyee_161 https://padlet.com/ronaldoyee_161/sb9uwdouyf2m/wish/167668739 Needs are states of felt deprivation
    Wants are the form of human needs shaped by culture and individual personality
    Demand are human wants that are backed by buying power
    Customer Satisfaction is the consumer's assessment of a product's ability to satisfy his/her needs. It is the difference between the benefits of using the product and the cost of using it. 
    i.e. if the customer is satisfied with the product, they find it good value for money and vice versa
    A total customer satisfaction creates a liking for the company's brand or product.
    It is important to find out what influences the customer's buying behaviour and their decision process when shopping]]>     2017-04-23 09:47:03 UTC https://padlet.com/ronaldoyee_161/sb9uwdouyf2m/wish/167668739     Process 2: Design a customer-driven marketing strategy ronaldoyee_161 https://padlet.com/ronaldoyee_161/sb9uwdouyf2m/wish/167669189 The business ought to decide who they should serve (Which customers or market) and to figure out their value proposition (the values the product provides and how this is different from other products)]]> 2017-04-23 09:57:00 UTC https://padlet.com/ronaldoyee_161/sb9uwdouyf2m/wish/167669189 Process 3: Construct an integrated marketing program that delivers superior value ronaldoyee_161 https://padlet.com/ronaldoyee_161/sb9uwdouyf2m/wish/169004681 This is the 
    • product strategy
    • pricing strategy
    • placing strategy
    • promotion strategy
    ]]>     2017-04-29 10:27:40 UTC https://padlet.com/ronaldoyee_161/sb9uwdouyf2m/wish/169004681     Process 4: Build profitable relationships and create customer delight ronaldoyee_161 https://padlet.com/ronaldoyee_161/sb9uwdouyf2m/wish/169004737 In this process, the business will build engagement and strong relationship with their customers and management and strong relationship with their marketing partners]]> 2017-04-29 10:28:53 UTC https://padlet.com/ronaldoyee_161/sb9uwdouyf2m/wish/169004737 Process 5: Capture value from customers to create profits and customer equity ronaldoyee_161 https://padlet.com/ronaldoyee_161/sb9uwdouyf2m/wish/169004960 At the end of the day, you have created satisfied loyal customers and you might have captured the customer's life time value. This increases the share of market and of customers]]> 2017-04-29 10:33:53 UTC https://padlet.com/ronaldoyee_161/sb9uwdouyf2m/wish/169004960