Not only does the Kindle allow access to e-books music videos and apps sold by Amazon it makes interacting with the online giant easier than ever. Customers use their Kindles to shop Amazon. Contour by Getty Images. Amazon wants to deliver a special experience to every customer.
Most Amazon. For example the Amazon. Amazon wants to personalize the shopping experience for each individual customer. If it has mil- lion customers it reasons it should have million stores. Visitors to Amazon. Once on the Amazon. In this way Amazon does much more than just sell goods online. It creates direct personalized customer relationships and satisfying online experi- ences. Year after year Amazon places at or near the top of almost every customer satisfaction ranking regardless of industry.
Based on its powerful growth many analysts have speculated that Amazon. In fact some argue it already is. Put another way Walmart wants to become the Amazon. Whatever the eventual outcome Amazon has become the poster child for companies that are obsessively and successfully focused on delivering customer value.
Jeff Bezos has known from the very start that if Amazon creates superior value for customers it will earn their business and loyalty and success will follow in terms of company profits and returns. These companies share a passion for understanding and satisfying customer needs in well-defined target markets. They motivate everyone in the organization to help build lasting customer relationships based on creating value.
Customer relationships and value are especially important today. The new digital mobile and social media developments have revolutionized how consumers shop and interact in turn calling for new marketing strategies and tactics. What is Marketing Marketing more than any other business function deals with customers. Although we will soon explore more-detailed definitions of marketing perhaps the simplest definition is this one: Marketing is managing profitable customer relationships.
The twofold goal of marketing is to attract new customers by promising superior value and to keep and grow current customers by delivering satisfaction. Live Better. But so do not-for-profit organizations such as colleges hospitals museums symphony orches- tras and even churches. Then see how your answer changes as you read the chapter.
Marketing comes to you in the good-old traditional forms: You see it in the abundance of products at your nearby shopping mall and the ads that fill your TV screen spice up your magazines or stuff your mailbox. But in recent years market- ers have assembled a host of new marketing approaches ev- erything from imaginative Web sites and mobile phone apps to blogs online videos and social media.
These new approaches do more than just blast out messages to the masses. They reach you directly personally and interactively. At home at school where you work and where you play you see marketing in almost everything you do. Behind it all is a massive network of people and activities competing for your attention and purchases.
In this chapter we begin by defining marketing and the marketing process. Marketing Defined What is marketing Many people think of marketing as only selling and advertising. We are bombarded every day with TV commercials catalogs spiels from salespeople and online pitches.
However selling and advertising are only the tip of the marketing iceberg. If the marketer engages consumers effectively understands their needs develops products that provide superior customer value and prices distributes and promotes them well these products will sell easily. Broadly defined marketing is a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others.
In a narrower business context marketing involves building profitable value- laden exchange relationships with customers. Hence we define marketing as the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return.
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. Marketing is all around you in good-old traditional forms and in a host of new forms from Web sites and mobile phone apps to videos and online social media.
Justin Lewis. Marketing The process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. Create value for customers and build customer relationships Capture value from customers in return Capture value from customers to create profits and customer equity Build profitable relationships and create customer delight Construct an integrated marketing program that delivers superior value Design a customer-driven marketing strategy Understand the marketplace and customer needs and wants This important figure shows marketing in a nutshell.
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 text. 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. In Chapter 2 we look more deeply into the second and third steps— designing value-creating marketing strategies and constructing marketing programs.
Understanding the Marketplace and Customer needs As a first step marketers need to understand customer needs and wants and the market- place in which they operate. We examine five core customer and marketplace concepts: 1 needs wants and demands 2 market offerings products services and experiences 3 value and satisfaction 4 exchanges and relationships and 5 markets.
Customer needs Wants and Demands The most basic concept underlying marketing is that of human needs. Human needs are states of felt deprivation. They include basic physical needs for food clothing warmth and safety social needs for belonging and affection and individual needs for knowledge and self- expression.
Marketers did not create these needs they are a basic part of the human makeup. Wants are the form human needs take as they are shaped by culture and individual personality. An American needs food but wants a Big Mac french fries and a soft drink. A person in Papua New Guinea needs food but wants taro rice yams and pork. When backed by buying power wants become demands. Given their wants and resources people demand products and services with benefits that add up to the most value and satisfaction.
They conduct consumer research analyze mountains of customer data and observe customers as they shop and interact offline and online. People at all levels of the company—including top management—stay close to customers. It is also suitable for. This best-selling, brief text introduces marketing.
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With engaging real-world examples and information, Marketing: AnIntroduction shows students how customer value—creating it and capturing it—drives every effective marketing strategy. The Twelfth Edition reflects the latest trends in marketing, including new coverage on online, social media, mobile, andother digital technologies. If You feel that this book is belong to you and you want to unpublish it, Please Contact us.
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