Transcription
Marketing: ManagingProfitable CustomerRelationships1
Learning Objectives1.2.3.4.5.After studying this chapter, you should be able to:Define marketing and outline the steps in themarketing processExplain the importance of understanding customersand the marketplace, and identify the five coremarketplace conceptsIdentify the key elements of a customer-drivenmarketing strategy and discuss the marketingmanagement orientations that guide marketingstrategyDiscuss customer relationship management, andidentify strategies for creating value for customers andcapturing value from customers in returnDescribe the major trends and forces that are changingthe marketing landscape in this age of relationships 1 - 2
Chapter Concepts1.2.3.4.5.6.7.8.What Is Marketing?Understanding the Marketplace and CustomerNeedsDesigning a Customer-Driven Marketing StrategyPreparing an Integrated Marketing Plan andProgramBuilding Customer RelationshipsCapturing Value from CustomersThe New Marketing LandscapeSo, What Is Marketing? Pulling It All Together1-3
What Is Marketing?Marketing is a process bywhich companies createvalue for customers andbuild strong customerrelationships to capturevalue from customers inreturn1-4
What Is Marketing?The Marketing Process1.2.3.4.5.Understand the marketplace and customer wantsand needsDesign a customer-driven marketing strategyConstruct a marketing plan that delivers superiorvalueBuild profitable relationships and create customersatisfactionCapture value from customers to create profit andcustomer equity1-5
What Is Marketing?The Marketing Process1-6
Understanding the Marketplaceand Customer NeedsCustomer Needs, Wants, and DemandsNeeds are states of deprivation Physical—food, clothing, warmth, safety Social—belonging and affection Individual—knowledge and self-expression1-7
Understanding the Marketplaceand Customer NeedsCustomer Needs, Wants, and DemandsWants are the form that needs take as they areshaped by culture and individual personalityDemands are wants backed by buying power1-8
Understanding the Marketplaceand Customer NeedsMarket Offerings—Product, Services, and ExperiencesMarket offerings are somecombination of products,services, information, orexperiences offered to amarket to satisfy a need orwant1-9
Understanding the Marketplaceand Customer NeedsMarket Offerings—Products, Services, and ExperiencesMarketing myopia is focusing only on existingwants and losing sight of underlying consumerneeds1 - 10
Understanding the Marketplaceand Customer NeedsCustomer Value and Satisfaction Expectations Customers Value and satisfactionMarketers Set the right level of expectations Not too high or low1 - 11
Understanding the Marketplaceand Customer NeedsExchanges and RelationshipsExchange is the act ofobtaining a desired objectfrom someone by offeringsomething in returnMarketers want to build andmaintain strongrelationships byconsistently deliveringsuperior customer value1 - 12
Understanding the Marketplaceand Customer NeedsMarkets are the set of actual and potential buyers ofa productMarketing system consists of all of the actors(suppliers, company, competitors, intermediaries,and end users) in the system affected by majorenvironmental forces Demographic Technological Economic Political–legal Socio-cultural Physical1 - 13
Understanding the Marketplaceand Customer NeedsElements of a Marketing System1 - 14
Designing a Customer-DrivenMarketing StrategyMarketing management is the art and science ofchoosing target markets and building profitablerelationships with them What customers will we serve? How can we best serve these customers?1 - 15
What Is Marketing? The Marketing Process. 1. Understand the marketplace and customer wants and needs. 2. Design a customer -driven marketing strategy. 3. Construct a marketing plan that delivers superior value. 4. Build profitable relationships and create customer satisfaction. 5. Capture value from customers to create profit and customer equity
