Business Finance
MKT421 Phoenix Week 1 Marketing and Customer Relationships Paper

MKT421

University of Phoenix

Question Description

Purpose of Assignment

Understanding marketing as a multi-step process relying on building successful customer relationships is essential to helping organizations grow and achieve their goals. This assignment defines marketing, the customer value proposition, and creating mutually beneficial relationships between the organization and target, as well as applies these concepts to the student to create a personal brand.

Assignment Steps

Resources: Week 1 textbook reading, Week 1 video, American Marketing Association Website, and University Career Center: Crafting Your Image

Scenario: You have just graduated from the University of Phoenix with your Bachelor's Degree. You have decided either to seek a promotion at your current work, explore new career opportunities, or open your own business and are using your marketing knowledge to position yourself for career growth.

Develop a 1,050-word response to the following using the scenario above:

  • Provide a definition of marketing from the American Marketing Association. Define the customer value proposition. Discuss the differences between the marketing process and advertising, the goals of creating a strong customer value proposition, and the unique relationship that exists between company and customer.
  • Use your workplace, a company you would like to work for, or an entrepreneurial vision and apply the concepts of the customer value proposition and relationship marketing to their operations. Introduce who the company, or business idea is and what they do. Provide examples demonstrating how the company uses these concepts successfully. Are there any ways they can improve in these areas? How?
  • Determine how your own personal brand links to the organization's customer value proposition. Discuss ways you can integrate a customer value proposition and use relationship marketing to position yourself the best. Please share examples to illustrate your thoughts and reasoning.

Cite a minimum of two peer-reviewed sources with at least one coming from the textbook, the Week 1 video, or the University Library.

Format your paper consistent with APA guidelines.

Final Answer

Attached.

Running head: UNDERSTANDING MARKETING AND CUSTOMER RELATIONSHIPS

Understanding Marketing and Customer Relationships
Student’s Name:
Institutional Affiliation:

1

UNDERSTANDING MARKETING AND CUSTOMER RELATIONSHIPS

2

Understanding Marketing and Customer Relationships
American Marketing Association defines marketing as the activity, creating processes, set
of institutions, exchange offer, delivering and communicating that have value for clients,
customers, society and the business partners. Marketing activities involve the management and
study of business exchange relationships. Enterprises employ marketing to keep, create and
satisfy the needs of the customers. The customer is the primary focus of every marketing activity
conducted by a company. Every company produces commodities to meet the needs and interest
of the consumers. The primary objective of marketing is to promote the sale of the products by
capturing a larger geographical region of the consumers. It enables the company to increase the
volume of sales and maximize the organization's profits.
Customer value proposition
A customer value proposition is the persuasive and a well-defined marketing statement
that relates to particular product or service and contains the reasons why customers would benefit
from purchasing the product. It describes the experiences the target population realizes upon the
purchase and consumption of the product. It is a marketing strategy used capture the attention
of the consumers. It enables the customers to identify the advantages associated with the
consumption of the products. A customer value proposition helps different organizations attain
the competitive advantage in the market (Skålén, Gummerus, von Koskull & Magnusson, 2015).
It also enables the organization in attracting more consumers and maximizing profits. It leads to
sustainability of the enterpri...

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