According to Armstrong & Kotler (2009), marketing is:
- Creating and Capturing Customer Value
Armstrong & Kotler (2009) also identify the key elements of a customer-driven marketing strategy. The marketplace includes:
- Needs which create “market offering”,
- Wants which create “market offering”, and
A simple marketing process includes:
- Capture value!
If you are designing a customer-driven marketing strategy “marketing management” is important. “Marketing Management” is:
- “The art and science of choosing target markets and building profitable relationships with them” (Armstrong & Kotler, 2009).
Remember the potential profitability of a product and its production and the projected loyalty.
Armstrong, Gary & Kotler, Philip (2009). Marketing An Introduction, 9e. upper Saddle River, New Jersey: Pearson Prentice Hall.