Creating and Capturing Customer Value

“Marketing, more than any other business function, deals with customers. Although we will soon explore more-detailed definitions of marketing, perhaps the simplest definition is this one: Marketing is managing profitable customer relationships.” (Kotler, Marketing: An Introduction, Pg. 5) First off, you must understand the market place you are trying to reach out to. From my understanding of the current market place I am dealing with, there aren’t that many cookbooks out there for people without teeth, better yet one that is well marketed or appealing either. So that leaves a big window of opportunity for this idea if done correctly. Then you must understand your customer’s wants and needs so you can design a customer-driven marketing strategy. Obviously, our consumer’s are older and probably want to try a wide variety of new foods due to them being restricted from most normal foods as a result of the loss of their teeth. So two things we could possibly do are market in senior home area’s and try to include a very diverse selection of recipes. “In this broader sense, customer relationship management is the overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction. It deals with all aspects of acquiring, keeping, and growing customers.” (Kotler, Marketing: An Introduction, Pg. 13) The last step of marketing is building profitable customer relationships. This is why my company will always stick to its word, deliver products in a quick and easy fashion, and always put the customer first. Keeping a good reputation is one of the most important things that is going to hold profitable customer relationships for your company.