The Marketing Process. Presents a simple, five-step model of the marketing process for creating and capturing customer value. In the first four steps, companies work to understand customers, create customer value, and build strong customer relationship. In the final step, companies reap the rewards of creating superior customer value. By creating value for consumers, they in turn capture value from consumers in the from of sales, profits, and long-term customer equity. In this chapter and the next, we will examine the steps of this simple model of marketing. In this chapter, we review each step but focus more on the customer relationship steps-understanding customers, engaging and building relationships with customers, and capturing velue from customer. In Chapter 2, we look more deeply into the second and third step-designving value-creating marketing strategies and constructing marketing programs.