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• 21st century marketing has a new sense of satisfying customer needs by interacting and working with the customer
• The challenge is to retain customers by satisfying their needs, wants and demands
• The importance of building and maintaining relationships takes on new meaning as it often a technology that stands between a marketing firm and its customer
• Marketing mix- a set of marketing tools that work together to influence the marketplace in the manner that companies set out to achieve
• Core marketing concepts:

o Needs, wants and demands

o Products

o Value, satisfaction and quality

o Exchange, transactions and relationships

o Markets

Needs, Wants and Demands

• Wants are the form taken by human needs as they are shaped by culture and individual personality
• Described in terms of objects that will satisfy needs
• As people are exposed to more objects that arouse their interest and desire, producers try to provide more want satisfying goods and services
• Demands are human wants that are backed by buying power
• People demand products with the benefits that add up to the most satisfaction
• Understanding demands, wants and needs provides important input for marketing strategies
• In outstanding companies, people at all levels stay close to customers in an ongoing effort to understand their needs and wants

Products

• A product is anything that can be offered to a market for attention, acquisition, use of consumption that might satisfy a want or need (physical objects, services, persons, places, organisations and ideas)

Value, Satisfaction and Quality

• Customers act on perceived value relates to reputation of firm
• Customer value- the difference between the values the customers gains from owning and using a product and the costs of obtaining the product
• Customer satisfaction is the extent to which a product’s perceived performance matches a buyers expectations...

• 21st century marketing has a new sense of satisfying customer needs by interacting and working with the customer
• The challenge is to retain customers by satisfying their needs, wants and demands
• The importance of building and maintaining relationships takes on new meaning as it often a technology that stands between a marketing firm and its customer
• Marketing mix- a set of marketing tools that work together to influence the marketplace in the manner that companies set out to achieve
• Core marketing concepts:

o Needs, wants and demands

o Products

o Value, satisfaction and quality

o Exchange, transactions and relationships

o Markets

Needs, Wants and Demands

• Wants are the form taken by human needs as they are shaped by culture and individual personality
• Described in terms of objects that will satisfy needs
• As people are exposed to more objects that arouse their interest and desire, producers try to provide more want satisfying goods and services
• Demands are human wants that are backed by buying power
• People demand products with the benefits that add up to the most satisfaction
• Understanding demands, wants and needs provides important input for marketing strategies
• In outstanding companies, people at all levels stay close to customers in an ongoing effort to understand their needs and wants

Products

• A product is anything that can be offered to a market for attention, acquisition, use of consumption that might satisfy a want or need (physical objects, services, persons, places, organisations and ideas)

Value, Satisfaction and Quality

• Customers act on perceived value relates to reputation of firm
• Customer value- the difference between the values the customers gains from owning and using a product and the costs of obtaining the product
• Customer satisfaction is the extent to which a product’s perceived performance matches a buyers expectations...

General points of the essay

Customer Satisfaction Survey 2. Strategic Quality Management and Customer Satisfaction Paper A RELATIONAL STUDY ON CUSTOMER SATISFACTION, TRUST , SWITCHING BARRIERS AND OVER ALL CUSTOMER RETENTION IN THE CONTEXT OF UNITREND LTD. CUSTOMER SATISFACTION SURVEY: Customer Acquisition And Keeping Customers In Today’S Volatile Market Customer Requirements Translated Into Products/Services Customer Satisfaction Questionnaire Customer Satisfaction for Business-to-Business Professional Services Customer Satisfaction Customer relationships marketing Marketing and Customer Relationships Worksheet Using Contrasting Business Examples Describe The Main Benefits To Customers Of Internet Marketing Beef Customer Satisfaction Market Research - Satisfaction with cars (Indian Customers) Explain How Technological Advances Have Helped Organisations Create Products/Services Best Suited To Customers Needs And How They Were Able To Communicate Effectively With Their Target Audience.

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