Sunday, 15 May 2011

Marketing:Creating Customer Value and Relationships

Principal of Marketing develops an innovative customer value and cuetomer-relationships framework thats capures the essence of todays marketing.

Five Major Value Themes:

1. Creating value for customer in order to captuer value from customers in returns;
Todays marketing must be good at creating customer value and managing customer relationships.they must attract target customer with strong value propositions.Then,they must keep and grow customers by delivering superior customer value and effectively managing the company-customer interface.Todays outstanding marketing companies understand the marketing and customer needs, design value creating marketing strategies,develop integrated marketing programs that deliver, and build strong customer relationships.In return,they capture value from customers in the form of sales,profits, and customer loyalty. 2.Building and managing strong, value-creating brands;
Well positioned brands with strong brand equity the basis upon which to build customer value and profitable customer relationships. todays marketers must position their brands powerfully and manage them well.

3.Managing returns on marketing to recapture value;
In order to capture value from customers in return, marketing managers must be good at measuring and the return on their marketing investment.They must ensure that marketing dollars are being well spent.In the past many marketer spent freely on big expensive marketing programs, often without thinking carefullly about the financial and customer response return on their spending. But all that is changing repidly.Measureing and managing returns on marketing investments has become an important part of strategic marketing decision making.

4.Harnessing new marketing technologies;
New digital and other high-tech marketing development are dramatically changing how marketers creates and communication customer value .todays marketing must know how to leverage new computers,information,communication,and distribution technologies to connect more effectively with customers and marketing parts ners in this digitalage.

5.Marketing in a socially responsible way around the globe;
As technological developments make the world an increasingly smallar place ,marketers must be good at marketing their brands globally and in socially responsible ways that creates not just short terms value for individuals customers but also long term value for society as a whole.

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