What is marketing?
— Marketing is the process of creating and capturing value from customers by building strong relationships and delivering superior value.
What are the learning objectives of the video?
— The video covers five learning objectives, including defining marketing and understanding the marketplace and customers.
How do outstanding companies understand their customers?
— Outstanding companies go to great lengths to understand their customers in order to satisfy their needs and wants through profitable exchange relationships.
What is the difference between the selling concept and the marketing concept?
— The selling concept focuses on heavy selling and promotion to obtain profits, while the marketing concept starts with customer needs and integrates marketing activities to create relationships with the right customers and generate profits.
How can customer engagement be achieved in marketing?
— Customer engagement can be achieved by designing a customer-driven marketing strategy, including developing a CRM plan to build and maintain profitable customer relationships through customer perceived value and satisfaction, and utilizing different relationship levels and tools.
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