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BM (Marketing, Identifying customers, Market competition) - Coggle Diagram
BM
Marketing
Companies engage customer, build strong customer relationships, create customer value in order to capture value from customers in return
need: physical, social, individual
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demands: Given wants and resources, people demand products and services with benefits that add up to the most value and satisfaction
Market offerings
(products, service, and experiences)
Combination of products, services, information or experiences offered to market to satisfy a need or want
Value & satisfaction
Customers from expectations about the value and satisfaction that various market offerings will deliver and buy accordingly
Marketers need to be careful to set the right level of expectations
- If set too low, may satisfy those who buy but fail to attract enough buyer
- If set too high, buyer will be disappointed
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Exchange & relationships
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Marketing consists of actions taken to create, maintain, and grow desirable exchange relationships with target audiences involving a products, service, idea, or other object
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