What is marketing process?

 The marketing process is the series of steps of businesses follows to promote their product or services to potential users.

1. Understanding customers and the market - This includes collecting information about the target market, sources of income, purchasing power and projected spending.
2. Create a customer driven strategy - Under this strategy, business identifies potential customers and then provide customers with what they want or need. It also includes to determine the best approach to service clients.
3. Deliver high customer value - Customer value is the proportion of advantage between a customer’s perceived advantages and expenditure incurred on purchasing goods and services.
4. Build profitable relationships - In this stage, Marketers build, maintain, expand their relationship with the customers. They are more inclined to make repeat purchases from the business when they are satisfied with the firm, goods and services.
   
5. Capturing value from customers -  Successful Customer Relation Management (CRM) aims to increase customer equity or a potential revenue that a business can make from its existing and future clients. Marketers wants to increase client equity because it serves as a leading indicator for the financial success.