Ch 11: Marketing: Building Profitable Customer Connections
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.
The ability of goods and services to satisfy consumer 'wants'
Satisfies wants by converting inputs into a finished form.
EX: Jamaba Juice pulverizes fuit, juices, and yogurt into yummy smoothies.
Satisfies wants by providing goods and services at a convenient time for customers.
EX: LensCrafters makes eyeglasses within about an hour.
Satisfies want by providing goods and services at a convenient place for customers.
EX: ATMs offer banking services in many large supermarkets.
Satisfies wants by smoothly transferring ownership of goods and services from seller to buyer.
EX: Apple- created a hassle-free purchase process that customers can follow by phone, by computer and in person