General Marketing - 1168 Words

1. Define marketing and the two goals of marketing. As a company president, explain why each of the two goals of marketing is important to your company. Give examples. Marketing is defined as the process by which companies supply a valued product or service to consumers and in return capture value from said consumers. The first goal of marketing is to attract new customers by providing a desired product or service. The second goal is to keep the current customer base loyal while continuously striving to increase that base. As a company president both marketing goals are vital to the success and longevity of my business. The first goal of attaining customers is a key factor due mainly to the upfront investment a consumer makes†¦show more content†¦The final process is for capturing value from consumers which equals profits and equity. A good usage of the marketing model is implemented by Target which has a keen understanding of a customers want and needs in their established market, they compete with other big box giants such as Wal mart and while Target may not have the same level of sales and profits they have established a very loyal customer base which adds to the sustainability of the company. Target delivers affordable, high quality items coupled with a great shopping experience which creates customer delight and revolving shoppers. The five steps of the marketing model process are all vital to a successful and lasting business. By utilizing the steps correctly any company should be able to provide a customer driven marketing strategy that delivers superior value and builds profitable relationships. 4. Identify and explain the four customer relations groups. Is there a way that markets can move a Stranger to a True Friend? Explain how Apple and Toyota could move their Strangers to True Friends. The four customer relations groups are True Friends, Butterflies, Barnacles and Strangers. True friends are what every company strives to have in their customersShow MoreRelatedMarketing Strategies Of General Motors Essay1289 Words   |  6 Pages Marketing Strategies of General Motors Aditya Sanaboyina Professor Meaghan Cordero Fairleigh Dickinson University Fall 2015 Creation, acceleration and emotion are the key components for any automobile industry to deliver its goods to the expected standards. General Motors, popularly known as GM has been a pioneer in the global autoindustry for more than 100 years. Developing from horseless carriages to the latest sports cars, innovations have always excelled at puttingRead MoreGeneral Motors: Marketing Plan1287 Words   |  6 PagesProduct Strategy General Motors has always had a reputation of diluted products. They had many vehicle lines with many differend brands. This idea was to offer a product that appealed to many different target markets. 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