Topic 1 - Marketing Managing Profitable Customer Relationships

Introduction to the concept of marketing, including the definition, understanding the marketplace and customer needs, designing customer-driven marketing strategies, and building customer relationships to capture value from customers.

Exploration of the marketing process, starting with market research to understand customer feedback and perceptions, followed by designing customer-driven marketing programs and creating profitable relationships to capture value from customers.

Discussion on distinguishing between customer needs, wants, and demands, with insights on how market offerings satisfy customer needs and how customer expectations drive purchasing behaviors.

Explanation of different marketing management orientations, such as production concept, product concept, selling concept, marketing concept, and societal marketing concept, highlighting the evolution of focusing on customer needs and satisfaction.

Overview of integrated marketing communication (IMC) as a comprehensive plan to deliver value to customers, followed by a group activity assignment to create marketing strategies for a chosen company, including branding, public relations campaigns, and customer communication.

Explanation of customer relationship management (CRM) as the process of building and maintaining profitable customer relationships by delivering superior value and satisfaction through partner relationships, capturing customer lifetime value, and increasing share of market.