According to the simple five-step model of the marketing process, a company needs to ________ before designing a customer-driven marketing strategy.
A)determine how to deliver superior value
B)build profitable relationships with customers
C)use customer relationship management to create full partnerships with key customers
D)understand the marketplace and customer needs and wants
E)construct key components of a marketing program

Question

Quizplus · Accepted Answer

The first step in the marketing process is to understand the marketplace and customer needs and wants. This involves conducting market research, analyzing data, and identifying target customers. Without this understanding, it is difficult to design a customer-driven marketing strategy that will effectively meet the needs and wants of the target customers. Once this step is completed, the company can move on to determining how to deliver superior value, building relationships with customers, using customer relationship management, and constructing key components of a marketing program.

According to the Simple Five-Step Model of the Marketing Process