Wants are the form human needs take as they are shaped by culture and individual personality. Human needs are states of felt deprivation and can include physical, social and individual needs. There are five different core customer and marketplace concepts. Understanding the marketplace and customer needs A five-step model of the marketing process will provide the structure of this chapter.
Marketing can be defined as the process by which companies create value for customers and build strong customer relationships to capture value from customers in return. Marketing must be understood in the sense of satisfying customer needs. Simply put, marketing is managing profitable relationships, by attracting new customers by superior value and keeping current customers by delivering satisfaction. Emphasizing the great role that technology plays in contemporary marketing, it's packed with new stories and examples illustrating how companies employ technology to gain competitive advantage-from traditional marketing all-stars such as P&G and McDonald's to new-age digital competitors such as Apple and Google.Back to top Chapter 1: Basic concepts of marketing The fifteenth edition has been thoroughly revised to reflect the major trends and forces impacting marketing in this era of customer value and high-tech customer relationships. Presenting fundamental marketing information within an innovative customer-value framework, the book helps readers understand how to create value and gain loyal customers. Principles of Marketing helps current and aspiring marketers master today's key marketing challenge: to create vibrant, interactive communities of consumers who make products and brands a part of their daily lives. Learn how to create value and gain loyal customers. Readers interested in an overview of marketing strategies and techniques.
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