Principles of Marketing, 17/e

Part 1: Defining Marketing and the Marketing Process (Chapters 1–2)

1 Marketing Creating Customer Value and Engagement

Chapter Preview

This first chapter introduces you to the basic concepts of marketing. We start with the question: What is marketing? Simply put, marketing is engaging customers and managing profitable customer relationships. The aim of marketing is to create value for customers in order to capture value from customers in return. Next we discuss the five steps in the marketing process—from understanding customer needs, to designing customer value–driven marketing strategies and integrated marketing programs, to building customer relationships and capturing value for the firm. Finally, we discuss the major trends and forces affecting ...