Summary Marketing

The American Marketing Association defines marketing as "an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders". (2005) Simply put, marketing is the process by which businesses assess the needs and desires of consumers in order to provide products and/or services to meet those needs in the most efficient and cost effective manner. Truly effective marketers do market research in an effort to understand their target market and create marketing strategies based on the characterization of those in the target area.

* Customer relationship management is the overall process of building and maintaining profitable customer relationships by delivering superior value and satisfaction

Every company wants to make money and bring in customers, but what about making loyal customers out of them so they continue to come back? How do you even bring in potential new customers and turn them into loyal customers to begin with? The lifetime value of a customer is a predicted value of net profit credited to the total future relationship of a customer. We want to know the financial value of each customer so that we know how much to spend in marketing when looking for new customers and the potential of profits back from the money in advertising spent. The grocery store chain must start looking at customers and how to make them happy and loyal in the long run, as opposed to how to boost sales right now. From the Marketing Management book, a well-known rule states that 80 percent or more of a firm’s profits come from the top 20 percent of its customers. Thus, we want to focus on brining in new customers with successful marketing and turning them into loyal returning customers.

An effective Customer Relationship Management (CRM) program can be used to identify, retain, satisfy and obtain customers by using technology to optimize strategies for understanding customers’ needs to manage business interactions with current, former, and prospective customers. Additionally, CRM also enables companies to maximize internal, external, marketing and customer service operations to better address the needs of the customer building a better relationship with customers that a more profitable. (Ahmad & Buttle, 2001)

Marketing is the activity and process for creating, communicating, delivering, and exchange a product or service; which has values for the customers/clients. Overall it is an integrated process which builds customer relationship and creates an identity for their customers and themselves.

Marketing is a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others. (Kotler & Armstrong, 2012)

Explaining how each customer has a lifetime value and how custom features optimize sales and customer loyalty

Every company depends on an efficient marketing program to fulfill customers' needs. Marketing is a process of finding out what the customer wants and meeting those requirements. Within the company, the marketing group has to consider customer values and customer satisfaction before considering offering a product. Marketing is part of our everyday world, and can be perceived everywhere and every time. At any time, everyone has been exposed to different kinds of marketing or advertising depending upon personal necessities such as T.V commercials, radio, internet, etc.

It is imperative to satisfy customers and give them an amazing experience at the company. While it cost less to sell to existing customers and companies can increase profit by selling to the same customers; if customers are satisfied, there is more chance they will come back for more services or products. Satisfied customers are a free marketing for the company. However, it is the opposite if customers are dissatisfied. Dissatisfied customer will tell 8 to 10 people about his or her experience (O’Brien, A & Marakas, G. 2004). If by any reason, representatives see that the customer is not satisfy, they should act fast and fix the problem. Furthermore, there is more chance for sale representatives to sell to an existing customer that to a new customer. A good strategy for customer retention is to reward good customers. Companies can easily do

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.

One of the most expensive and difficult tasks facing any business is acquiring new customers. Acquiring a new customer can cost five times as much as retaining an existing customer. Research has shown that 2% increase in customer retention can decrease costs by as much as 10% for a business. To retain current customers, businesses engage in relationship marketing strategies to continually attract repeat business. While both current and new customers must be acknowledged and respected, the ultimate goal is to turn every new customer into a returning customer.

The steps in the marketing process are: Situation analysis → Establishing objectives → Selecting the target market→ Developing the marketing mix → Implementation and control.

Marketing is the process in which goods and services moves from concept to customer and in which wants changes into needs. Lots of people thinks marketing is just about advertise and sales but marketing are something that connects with customer and maintain a good relationship.

Customer relationship management is a customer focused business strategy that dynamically integrates sales, marketing and customer services, in order to create and add value for the company and its customer.

Initially, an organization would need to have a positive customer-based brand equity, meaning the organization’s products or services, when identified, would receive favorable reaction from the customers. Big and established brands normally accomplish this requirement. After obtaining a new customer, the organization would need to offer him its best service or product to ensure his satisfaction