CHAPTER 1

CUSTOMER-DRIVEN STRATEGIC MARKETING

OVERVIEW:

The purpose of this chapter is to give students an overview of strategic marketing and provide a general framework for studying the field of marketing. First, we present a definition of marketing and explore each element of the definition in detail. This exploration defines key marketing concepts including customers, target market, the marketing mix, the exchange process, relationship marketing, and the marketing environment. Because we believe that an understanding of the marketing concept is fundamental, we devote several pages to this area, including its basic components, evolution, and implementation. We also take a brief look at the management of customer relationships and then at the concept of value, which customers are demanding more than ever. We then explore the process of marketing management, which includes planning, organizing, implementing, and controlling marketing activities to encourage marketing exchanges. Finally, we examine the importance of marketing in our global society

LEARNING OBJECTIVES:

1.  Define marketing
2.  Understand everal improtant marketing terms, including target market, marketing mix, marketing exchanges, and marketing environment
3.  Be aware of the marketing concept and marketing orientation
4.  Understand the importance of building customer relationships
5.  Explain the major marketing functions that are part of the marketing management process
6.  Understand the role of marketing in our society