Frameworks and Models for Customer-Based Strategy

Frameworks and Models for Customer-Based Strategy

Extract

In 2013, the American Marketing Association approved the following definition of Marketing:

Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Over the years, many frameworks have been developed to understand the concept and practice of marketing. They are used in marketing textbooks, by practicing managers, and in marketing scholarship. This article reviews the different frameworks so that the readers can understand their basics.

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