Marketing Pocketbook Chapter 1
By Rebecca Walters
Marketing~ process by which companies engage customers, build strong profitable relationships in
order to capture value from customer in return.
• does not tell a customer in order to sell but instead satisfies a need.
• “Selling” is unnecessary
• Builds a relationship between business and customer
• Aims to engage their customer
Marketing Management~ art and science of choosing target markets and building profitable
relationships with them
• Wants to design strategies that will engage target customers
Market~ is the set of actual and potential buyers of a product or service.
Marketing process
Understand the
marketplace and
customers’ needs
Design a customer
value driven
marketing strategy
Construct an
integrated
marketing
Engage
customers, build
profitable
Capture value
from customers to
create profits and
