After studying this chapter you will be able to understand: Marketing: creating and capturing customer value, company and marketing strategy partnering to build customer relationships, developing marketing strategies and plans, analyzing the marketing environment, managing marketing information to gain customer insights,. | Course Revision LECTURE-32 1 Marketing: Creating and Capturing Customer Value LECTURE-1 2 What Is Marketing? Marketing process Understanding the Marketplace and Customer Needs Topic Outline 3 Objective 1 Define marketing and outline the steps in the marketing process. What Is Marketing? Objective 2 Explain the importance of understanding customers and the marketplace and identify the five core marketplace concepts. Understanding the Marketplace and Customer Needs Objective 3 Identify the key elements of a customer-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy. Designing a Customer-Driven Marketing Strategy Preparing an Integrated Marketing Plan and Program 000–000 Objective 4 Discuss customer relationship management and identify strategies for creating value for customers and capturing value from customers in return. Building Customer Relationships Capturing Value from Customers Objective 5 Describe the major trends and forces that are changing the marketing landscape in this age of relationships. The Changing Marketing Landscape Marketing Process This important figure shows the simple, five-step model of the marketing process. By creating value for customers, marketers capture value from customers in return. This five-step process forms the marketing framework for the rest of the chapter and the remainder of the book. In the first four steps, companies work to understand consumers, create customer value, and build strong customer relationships. In the final step, companies reap the rewards of creating superior customer value. By creating value for consumers, they in turn capture value from consumers in the form of sales, profits, and long-term customer equity. In this chapter, we review each step but focus more on the customer relationship steps—understanding customers, building customer relationships, and capturing value from customers Marketing is all about creating value for | Course Revision LECTURE-32 1 Marketing: Creating and Capturing Customer Value LECTURE-1 2 What Is Marketing? Marketing process Understanding the Marketplace and Customer Needs Topic Outline 3 Objective 1 Define marketing and outline the steps in the marketing process. What Is Marketing? Objective 2 Explain the importance of understanding customers and the marketplace and identify the five core marketplace concepts. Understanding the Marketplace and Customer Needs Objective 3 Identify the key elements of a customer-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy. Designing a Customer-Driven Marketing Strategy Preparing an Integrated Marketing Plan and Program 000–000 Objective 4 Discuss customer relationship management and identify strategies for creating value for customers and capturing value from customers in return. Building Customer Relationships Capturing Value from Customers Objective 5 Describe
