Week 1 ? BUS620: Managerial Marketing;DQ?s;Value;Assess the role the marketing function plays in creating value for customers and shareholders.;Mullins and Walker (2010) contend that, ?delivering superior value to customers is the key to business success, and that superior value flows from a combination of well-designed products or services, produced with high-quality, efficient operations that enable low costs and competitive prices, and reliable customer service? (pg 24).;In order to create value for customers and shareholders, marketing actions must efficiently and effectively manage exchanges between individual and organization focusing on customer needs and wants and the products and services that best satisfy those needs and wants. Moreover, marketing functions focus on measuring and responding to elements such as the product/service offered (creating the most need-satisfying benefits per dollar), service delivery (building customer relationships and enhancing customer loyalty), and financial accountability (providing the most desirable financial outcomes for shareholders).
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