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Describe the elements of a customer driven marketing strategy and mix and the forces that influence it.
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- Describe the elements of a customerdriven marketing strategy and mix and the forces that influence it.Explain why companies need to design a Customer Value-Driven Marketing Strategy? Discuss about Customer Relationship Management and elaborate why there is a shift from transaction based marketing to relationship based marketing?How to design a customer-driven marketing strategy?
- What are the stages to design a customer-driven Marketing Strategy?Explain the concept of a marketing plan and outline the key components typically included in one.Explain the overall objective of customer relationship management and the stages that customers are pulled through in the process. For each stage, identify the marketing goals during the stage as well as examples of strategies that may be used.
- Explain in a few sentences, how do "needs, wants, and demands" play into marketing? Explain each term. What are the stages to design a customer-driven Marketing Strategy?Explain the marketing process in your own words. The Strategic Marketing Analysis, Marketing Strategy Formulation, Marketing Mix Decisions, Implementation and controlDiscuss the four marketing management philosophies and highlight how both the market orientation (marketing concept) and the societal marketing orientation are the most effective (more customer-driven).The four marketing management philosophies are product orientation, sales orientation, market orientation, and societal marketing orientation. List the three pre-requisite elements (Focusing on customers wants and needs, Integrating all the organization's activities to satisfy what customers wants, Achieving long term goals for the organization by satisfying the customers wants and needs) for the marketing concept to exist and for the company to succeed. Watch the video on "Costco CEO: High Wages, High Volume Drive Results for Costco Shareholder" https://www.youtube.com/watch?v=qC8Abk2atrM and reflect on the Costco's successes and the value of their Kirkland brand. Is Costco's successes because of their large membership base (how many?)? low-prices? customer-oriented employees? the…