Marketing The activity, set of institutions and processes for creating, communicating, delivering, and exchanging offerings that have value for customers,

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Marketing The activity, set of institutions and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large Copyright © Cengage Learning. All rights reserved

Managing Customer Relationships Relationship marketing: Establishing long-term mutually satisfying buyer-seller relationship Customer relationship management (CRM): Using information about customers to create marketing strategies that develop and sustain desirable customer relationships Customer lifetime value: a combination of purchase frequency, average value of purchases, and brand-switching patterns over the entire span of a customer’s relationship with a company Copyright © Cengage Learning. All rights reserved

Major Marketing Functions Copyright © Cengage Learning. All rights reserved