The process in which we understand the customer's needs and wants, bid on their needs and wants, and build profitable relationships to capture customer value. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay Understanding the Market and Customer Needs: We know we know the marketing process, first we understand the customer needs. The customer needs a product, service or experience of which he is deprived. He wants human need to have a cultural and social background superior to human need. When we need something and that product is supported by purchasing power that becomes our Demand. When we understand the customer's needs and wants, we provide them with different market offerings (products, services, ideas and experiences) to meet their needs and wants. Customer Value and Satisfaction The customer has many choices in the market to meet his needs. The customer will only purchase the good that has a higher expectation value according to his thinking, if the expectation is low he will lose five more customers of the company. Exchange and Relationship Exchange is the process in which one party offers offerings in exchange for a reward. Relationship is the key to marketing. The company establishes good relationships with the target customers and buys by offering them offers (product, service, experiences) Design a strategy based on customer value Now we understand our customer, after which we will decide who to serve our products and services to. This is why we target the market we serve and how to create profitable relationships. For this we should know who we serve and the value proposition. Selecting the customer to serve means dividing the market into segments and this segmentation leads to the target market selecting a segment to serve. Value Proposition is the process in which a company differentiates and positions its product from the rest of its competitors. The value proposition is a promise to offer benefits to the consumer to satisfy his needs. Marketing Management Orientation: Management decides the marketing strategy to serve its target market and build profitable relationships. The company has five strategies given by the market; Production, product, sales, marketing and social marketing concept. Manufacturing is a concept where the customer prefers those products and services which are highly available in the market. The company should focus on the manufacturing and distribution channel. Product - the concept in which the customer is interested in the quality of the product and its modern features. These are commonly luxury goods. The company should focus on improving the product features. Selling concept where company makes big sales to customer and promotion of product. Marketing is a concept in which the marketer should know the needs and wants of a customer, build a strong customer relationship with him and provide him with a satisfactory product that is different from what the competitors do. Social marketing concept in which short-term needs and wants are satisfied by the customer and ignore the long-term equity of the customer and society. The marketing manager should see both aspects of short-term needs and long-term customer desire and customer equity. Customer relationship levels and tools Companies build customer relationships at any level with their target market. It depends on the nature of the target market. Basic Relationship is a low margin customer for a company. The company does not call him personally, but interacts via.