Notes

One of the first steps in creating a successful marketing organization is seeing your company as a success in the marketplace. What does success look like? Knowing what success looks like can help you plan for and achieve success. In this module, you will explore critical components of marketing success. You will also complete an activity in which you evaluate how your organization can succeed in the marketplace.

Without customers, no business would be in business. But to get customers, a successful marketer knows she needs to clearly understand who her customers are and how her company can serve them. So where do you start? With customer needs, wants, and demands.
Needs: things that we can't live without (food, self-esteem, learning, growth, belonging, etc.) --> motivate our consumer behavior
Wants: how we satisfy the needs (need to satiate hunger...how I choose where I eat are my wants. These are shaped by individual preferences, culture, history, etc.). There's also
Demand: Do consumers have the buying power to fulfill their needs and wants into actions and actually convert the sale?
Elio's financial capacity to back up his want of architectural services is an example of demand. Wants plus buying power equal demand.

What is Customer Value in the context of services marketing?
Professor Kwortnik explains what customer value is and the role it plays in your relationship with your customers.
Customer Value: