Principles of Marketing, 17/e

Managing Customer Relationships and Capturing Customer Value

Author Comment

Doing a good job with the first three steps in the marketing process sets the stage for step four, building and managing customer relationships.

Engaging Customers and Managing Customer Relationships

The first three steps in the marketing process—understanding the marketplace and customer needs, designing a customer value–driven marketing strategy, and constructing a marketing program—all lead up to the fourth and most important step: engaging customers and managing profitable customer relationships. We first discuss the basics of customer relationship management. Then we examine how companies go about engaging customers on a deeper level in this age of digital and social ...