How to backup iPhone using iTunes?

I have a macbook pro and i want to backup my iPhone's data onto my laptop (including contacts, apps, photos, etc…) and transfer it to my new iPhone. What are the steps to do it? Please list it down, will help a lot!

1. Connect your device to your computer.
2. Open iTunes.
3. Click on the Device icon next to the category dropdown menu on the left side of the iTunes window.
4. Select Summary from the sidebar.
5. Select Back Up Now under Manually Back Up and Restore.

Plug in iPhone
Open iTunes
Click File > Devices > Back Up
Done (as far as that iPhone)

Plug in other iPhone
Open iTunes
Click File > Devices > Restore from backup
Done