In the face of growing uncertainty and intensive competitive, companies should be focusing onthe lifetime value of their customers. There's a counterintuitive but convincing argument forinvesting in technology to improve internal processes and revamp portfolio of products andservices. But simply buying or implementing technology won't give you an advantage. Marketershave to use technology to transform their strategies so you can "accelerate through theturn." What makes advanced technology environment different from previous ones? And whattechnological investments would you make to build customer loyalty in the near future? Bespecific and give examples.

Technological investments that would build customer loyalty in the near future:Customer…

Answered: In the face of growing uncertainty and…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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1. How does every forces in micro and macroenvironment affect company's ability in creating customer value and building profitable relationship.
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There are literally 100’s of different definitions of marketing available on the internet, and even marketing textbooks will use their own definition of what marketing is all about. And in the business world, especially across industries, you will find that different firms and different managers have a somewhat unique view of the role of marketing. As you probably know already however, the key goals of marketing are to: generate long-term profits, deliver customer satisfaction, and improve the competitive strengths of the organization over time. But let’s now have a very simple look at the role of marketing based on these three goals. The above marketing goals are really all about getting and keeping customers. This means that can we break marketing down to three simplistic responsibilities: Attract new customers (Get) Grow share of customer (Build) Retain profitable customers (Hold) In other words – GET – BUILD – HOLD customers. Clearly, there is a whole array of marketing…
3-5. How does technology impact customer value?

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