FIGURE 1.6 An Expanded Model of the Marketing Process Understand the marketplace and customer needs and...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
FIGURE 1.6 An Expanded Model of the Marketing Process Understand the marketplace and customer needs and wants Create value for customers and build customer relationships Design a customer value- driven marketing strategy Construct an integrated marketing program that delivers superior value Engage customers, build profitable relationships, and create customer delight Capture value from customers in return Capture value from customers to create profits and customer equity Research customers and the marketplace Manage marketing information and customer data Select customers to serve: market segmentation and targeting Decide on a value proposition: differentiation and positioning Product and service design: build strong brands Pricing: create real value Distribution: manage demand and supply chains Customer relationship management: build engagement and strong relationships with chosen customers Partner relationship management: build strong relationships with marketing partners Create satisfied, loyal customers Capture customer lifetime value Increase share of market and share of customer Promotion: communicate the value proposition Harness marketing technology Manage global markets Ensure environmental and social responsibility FIGURE 1.6 An Expanded Model of the Marketing Process Understand the marketplace and customer needs and wants Create value for customers and build customer relationships Design a customer value- driven marketing strategy Construct an integrated marketing program that delivers superior value Engage customers, build profitable relationships, and create customer delight Capture value from customers in return Capture value from customers to create profits and customer equity Research customers and the marketplace Manage marketing information and customer data Select customers to serve: market segmentation and targeting Decide on a value proposition: differentiation and positioning Product and service design: build strong brands Pricing: create real value Distribution: manage demand and supply chains Customer relationship management: build engagement and strong relationships with chosen customers Partner relationship management: build strong relationships with marketing partners Create satisfied, loyal customers Capture customer lifetime value Increase share of market and share of customer Promotion: communicate the value proposition Harness marketing technology Manage global markets Ensure environmental and social responsibility
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
2. What are the potential sources of value that the best owner brings to a business? Give an example of each.
-
As the world economy becomes more integrated, one question facing financial analysts is whether financial ratios can be compared across national boundaries. For example, at one time the average P/E...
-
There is an important connection between risk and reward. Acting as an investor, what industries might you accept a high risk on your investment?
-
Brothers Herm and Steve Hargenrater began operations of their tool and die shop (H & H Tool) on January 1, 1987, in Meadville, PA. The annual reporting period ends December 31. Assume that the trial...
-
ABC and CVP Analysis: Multiple Products Good Scent, Inc., produces two colognes: Rose and Violet. Of the two, Rose is more popular. Data concerning the two products follow: Expected sales (in cases)...
-
State the vertical asymptotes, if any exist for the function. T f(x) = x+81
-
4. Oh no! Prof. Conlin was doing the dishes, but ran out of space on his drying rack. He decided to set the last two bowls on a towel on the counter to dry. He wondered, "To make sure they get dry,...
-
It has been assumed so far that the firm will operate a project over its full physical life. However, may not be the best option - it may be better to abandon a project prior to the end of potential...
-
33-34 Find (a) f + g, (b) f- g, (c) fg, and (d) f/g and state their domains. 33. f(x)=25-x, g(x) = x+1 ===== 1 34. f(x)= x-1' 9(x)=-2 X
-
Describe five steps independent auditors take when auditing an organization. -An independent auditor, often a public accounting firm, begins an audit by studying the business. This approach helps to...
-
Which of the following is NOT true of China's post-Mao economic reforms? Question 20 options: a) Power is more centralized. b) There are more information flows. c) Policy-making is more scientific....
-
The AICPAs list of red flags, alerting auditors to possible management fraud, includes a domineering management coupled with a weak board of directors. Briefly explain the role of the board of...
-
For years many individuals have claimed that public accounting firms should not be allowed to offer management advisory services to the same companies they audit. What is the rationale behind such...
-
The AICPA considered and passed a proposal that would bar accountants from borrow ing from banks that their firms audit. Briefly explain why the AICPA would pass such a proposal.
Study smarter with the SolutionInn App