University:
Columbia University
Course:
UN 1105 | Principles of Economics
Academic year:

2023
Views:

21

Pages:

2
Author:

Adam B.

11/2/22 Chapter 11 building customer relationships through marketing. AMA American marketing Association -marketing: Satisfuing customer needs wants by having the products. why is marketing important -helps companys sell their product effective way of engaging customers -helps build & maintain a companys reputation helps build a relationship between It's buisness customers helps a companys managment team to make decisions -expands global presente -spreads atross the supply chain •Supply Chain: a network between a company. Its Suppliers to distribute certain products -marketing enriches society • focuses on factors other than just financial profitability like good corporate citizenship • many of Americas best known corporations encourage their employees to participate in activities that benifit their communities -marketing can be entrepreneurial plays a major role in the successes of numerous ventures the key to success of many entrepreneurs is that they identify aim to satisfy unfilled needs Building, managing customer relationships in marketing is crucial. -marketing relationships with customers is the lifeblood or lifeline of all buisness. Image Analysis Textual Content: -relationship marketing: refers to a strategy that emphasizes firms establishing customer relationships that focuses on loyalty long term relationships to deepen the ouyers trust in the company. -the goal of relationship marketing is to create a stronge customer connection to a brand that can lead to On going business -marketing concept: buisness philosophy that involves Identifying consumer needs wants then producing those products (can be goods, services or ideas) that Will satisfy customers while making aprofit -every company should have a marketing concept. developing marketing Strategies -marketing Strategy: a plan that will enable an organization to make the best use of its resource advantages to meet Hs objectives should be specific to the type of market the firm is targeting. Selecting. -a target market particular group of consumer at which a product or service is aimed to sell to markets their classification -consumer markets: purchasers or nousnoid members who intend to consume or benifit from the products purchased, do not buy products to make a profit. buisness to buisness Lindustry markets) purchase Specific kinds of products for use in making other products for resale or for day-dau operations