Explain the marketing process model briefly - step by step. Create value for customers and build customer relationships Understand the Design a Construct an marketplace and customer-driven integrated customer needs marketing marketing program that delivers and wants strategy superior value Build profitable relationships and create customer delight Capture value from customers in return Capture value from customers to create profits and customer equity Research customers and the marketplace Select customers to serve: market Segmentation and targeting Product and service design: build strong brands Create satisfied loyal customers Customer relationship management: build strong relationships with chosen customers Capture customer lifetime value Manage marketing information and customer data Decide on a value proposition: differentiation and positioning Pricing: create real value Partner relationship management build strong relationships with marketing partners Increase share of market and share of customer Distribution: manage demand and supply chains Promotion: communicate the value proposition Harness marketing technology Manage global markets 7 Ensure ethical and social responsibility