General Marketing

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1. Define marketing and the two goals of marketing. As a company president, explain why each of the two goals of marketing is important to your company. Give examples.

Marketing is defined as the process by which companies supply a valued product or service to consumers and in return capture value from said consumers. The first goal of marketing is to attract new customers by providing a desired product or service. The second goal is to keep the current customer base loyal while continuously striving to increase that base.

As a company president both marketing goals are vital to the success and longevity of my business. The first goal of attaining customers is a key factor due mainly to the upfront investment a consumer makes
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The final process is for capturing value from consumers which equals profits and equity.

A good usage of the marketing model is implemented by Target which has a keen understanding of a customers want and needs in their established market, they compete with other big box giants such as Wal mart and while Target may not have the same level of sales and profits they have established a very loyal customer base which adds to the sustainability of the company. Target delivers affordable, high quality items coupled with a great shopping experience which creates customer delight and revolving shoppers.

The five steps of the marketing model process are all vital to a successful and lasting business. By utilizing the steps correctly any company should be able to provide a customer driven marketing strategy that delivers superior value and builds profitable relationships.

4. Identify and explain the four customer relations groups. Is there a way that markets can move a Stranger to a True Friend? Explain how Apple and Toyota could move their Strangers to True Friends.

The four customer relations groups are True Friends, Butterflies, Barnacles and Strangers. True friends are what every company strives to have in their customers
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