Fundamentals of Modern Marketing

Marketing Revision Sheet

1. 📌 Essentials

• Marketing: Activities and strategies to attract,, and retain customers by creating and delivering value.
• Core process: Understand needs → Design strategy → Implement program → relationships → Capture value.
• Market offerings: Products, services, info, experiences satisfying needs/wants.
• Needs vs. Wants vs. Demands:
  • Needs: felt deprivation.
  • Wants: shaped needs.
  • Demands: wants + purchasing power.
• Customer satisfaction: Performance relative to expectations.
• Customer lifetime value (CLV): Total profit from a customer over their relationship with the company.
• Customer equity: Sum of all customers’ CLV.
• Digital tools: Websites, social media, mobile apps, videos, blogs.
• Big Data & AI: Enable personalized marketing and insights.
• Sustainable marketing: Incorporates social and environmental responsibility.

2. 🧩 Key Structures & Components