Term
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Definition
•Marketing is about managing profitable customer relationships
–Attracting new customers
–Retaining and growing current customers
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Term
| What is the most important task you have as a company? Why? |
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Definition
| Retain your current customers because if you loose a customer it takes up to 10-15 times more $ to get a new customer. |
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Term
| What are two mains tasks in marketing? |
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Definition
1) going to customers, understanding what they want, what they think. Bring their ideas to the company
2) Company works around this & informs their customers of the decision and why this is a better choice for them |
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Term
| What are the five steps for marketing process? |
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Definition
1)Customer needs, wants
and demands
2) Market Offerings
3)Value and Satisfaction
4)Exchange vs. Relationship
5)Markets |
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