Learning takeaways of Chapter 1&2

For the chapter 1,

1.Marketing Definition and Objectives 
Marketing is the process of providing value to an organization and its stakeholders by discovering and fulfilling customer needs. Its main objectives are to discover customer needs and satisfy them.

2.Discovering and Satisfying Needs 
Since consumers themselves may not always be aware of their exact needs, companies strive to clarify and satisfy customer needs by understanding their culture, knowledge, and personality. In addition, companies cannot satisfy all needs, so they need to focus on specific target markets.

3.Difference between marketing mix and external factors 
The marketing mix (4P: product, price, promotion, and distribution) is a factor that companies can control. On the other hand, environmental factors are factors outside the company that cannot be controlled.

4.Building Customer Relationships and Value 
To build long-term relationships with customers, it is essential to provide value. That value is formed through a combination of price, quality, convenience, and service.

5.Characteristics of Market Orientation 
The core of Market Orientation is the attitude of continuously gathering information, sharing it within the organization, and using it to create value, with the primary goal of satisfying customer needs.

For the Chapter 2,
1.Types of Organizations and Strategic Levels 
Organizations include for-profit, non-profit, and government entities, each with different objectives. There are three strategic levels: enterprise-wide (corporate), business unit (business unit), and functional (functional).

2.Importance of Values, Mission, Culture, Vision, and Goals 
Organizations establish values, mission, culture, vision, and business- and function-specific goals to clarify their purpose and direction, and build strategies based on them.

3.Marketing Dashboards and Metrics 
To measure the effectiveness of marketing, dashboards are used to quantify progress and results using metrics (indicators) and visualize them in graphs and other formats.

4.Steps in Strategic Planning 
Strategic planning is based on Where are we now?(analysis of the current situation) and Where are we going? (future direction), and evaluate the internal and external environment of the company using SWOT analysis and more.

5.Marketing Strategy Planning and Execution 
Segmentation, targeting, and positioning, or STP, define target markets, differentiation, and positioning. The plan is then executed using the marketing mix (4Ps).

6.Evaluation and Adjustment 
Evaluate the results of the strategy and adjust marketing activities as necessary to ensure continuous improvement and maximize results.

Through these two chapters, it becomes clear that marketing is not just a sales activity, but a strategic process that brings value to the organization and its stakeholders by identifying and meeting potential customer needs.　Chapter 1 provides a definition of marketing, its purpose, and the It presents basic concepts, such as the use of the marketing mix, and explains how companies can build long-term relationships with their customers. Chapter 2, on the other hand, focuses on how marketing is linked to the organization's overall strategy, introducing a series of steps to plan and execute STPs and 4Ps based on vision and mission, and to evaluate and adjust them using metrics and dashboards. Throughout both chapters, it is emphasized that marketing is at the core of corporate activities, and that it is essential to combine both the customer perspective and strategic thinking.