What Is Marketing?
      Simple definition: 
         Marketing is managing profitable customer 
         relationships.
      Goals: 
      1. Attract new customers by promising superior 
         value. 
      2. Keep and grow current customers by delivering 
         satisfaction.
                          Prentice Hall,  Copyright 2009   1-2
      The Marketing Process
      • A simple model of the marketing process:
         • Understand the marketplace and customer 
           needs and wants.
         • Design a customer-driven marketing strategy.
         • Construct an integrated marketing program that 
           delivers superior value.
         • Build profitable relationships and create 
           customer delight.
         • Capture value from customers to create profits 
           and customer quality.
                           Prentice Hall,  Copyright 2009    1-3
      Customer Satisfaction
      •Customer satisfaction:
          • Dependent on the product’s perceived 
            performance relative to a buyer’s 
            expectations.
              • Customer satisfaction often leads to consumer 
                loyalty.
              • Some firms seek to DELIGHT customers by 
                exceeding expectations.
                              Prentice Hall,  Copyright 2009        1-4
       Customer Relationships
       •Loyalty and retention programs build 
         relationships and may feature:
           • Financial Benefits
              • E.g., frequency marketing programs
           • Social Benefits
              • E.g., club marketing programs
           • Structural Ties
       • Focus is on relating directly to profitable customers, 
         for the long term.
                                Prentice Hall,  Copyright 2009         1-5
   Sales Management
  Sales management is a business discipline which is 
  focused on the practical application of sales techniques 
  and the management of a firm's sales operations. It is an 
  important business function as net sales through the sale 
  of products and services and resulting profit drive most 
  commercial business. These are also typically the goals 
  and performance indicators of sales management
  Also known as Sales Force Management  and maybe also 
  defined   as the management of the personal selling 
  component of an organization's  marketing program.