Principles of Marketing, 17/e

1 Reviewing and Extending the Concepts

Objectives Review and Key Terms

Objectives Review

Today’s successful companies—whether large or small, for-profit or not-for-profit, domestic or global—share a strong customer focus and a heavy commitment to marketing. The goal of marketing is to engage customers and manage profitable customer relationships.

Objective 1-1 Define marketing and outline the steps in the marketing process. (pp 4–6)

Marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. The marketing process involves five steps. The first four steps create value for customers. First, marketers need to understand the marketplace and customer ...