1. Marketing
Is dynamic!

2. Customer-focused Customer – an individual or group who buys products
Examples – individuals, groups
Target market – the specific group of customers whose needs a company will focus on satisfying
How can potential customers be grouped?
Examples of target markets
Think of something you purchased recently. How did that product meet your needs and wants?

3. Relationships
Is based on the relationship between the buyer and the seller
Some relationships are short-term
Some relationships are long-term and lead to more satisfied and loyal customers
Examples of product loyalty
Research has shown that it is less costly to keep a current customer than to get a new customer.
Why do you think that would be true?

4. More about relationships
Many businesses focus on developing and maintaining relationships with their customers.
Contact customer after the sale
Is product working properly, meeting the needs
Problems can be worked out quickly
Sales people might send birthday cards or incentives
Send notices of sales and special “LOYAL CUSTOMER” events
Many businesses reward repeat customers with discounts or free products
Frequent flier points
Kroger coupons

5. international
People around the world are linked by phone, fax, internet, and travel
You can buy foreign products in many stores in the US
US products are for sale in many foreign countries
Through the internet, people can buy products from anywhere in the world.