copyright © 2005 pearson education inc. marketing: managing profitable customer relationships...
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005
Pea
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c.Marketing: Managing Profitable Customer
Relationships
•Chapter 1
•Powerpoint slides
•Express version
•Instructor name
•Course name
•School name
•Date
Principles of Marketing: 6th Canadian Edition
Principles of Marketing: 6th Canadian Edition
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Learning Objectives
• After studying this chapter, you should be able to:– Define what marketing is and discuss its core concepts
– Define marketing management and compare the five marketing management orientations
– Discuss customer relationship management and strategies for building lasting customer relationships
– Analyze the major challenges facing marketers heading into the new “connected” millennium
Principles of Marketing: 6th Canadian Edition
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Needs, Wants, and Demands
• Marketing: – The managing of profitable relationships
– Satisfying customer needs
• Needs:– Felt deprivation
• Wants:– Form of needs shaped by
culture and personality
• Demands:– Wants backed by buying
power
Figure 1.1
Principles of Marketing: 6th Canadian Edition
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Value and Satisfaction
• Value: – Benefits gained versus costs of obtaining product
• Satisfaction:– Degree of meeting consumer’s expectations
• Exchange:– Trade of value between
parties
• Transaction:– Two things of value
– Agreed-upon conditions
– Time/place of agreement
Principles of Marketing: 6th Canadian Edition
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Marketing Management
• Market:– Set of actual or potential buyers
• Marketing management:– Choosing target markets
– Building profitable relationships with them
• Demarketing:– Reduce, not
destroy demand
– Temporarily or permanently
Figure 1.2
Principles of Marketing: 6th Canadian Edition
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Marketing Management Orientations
• Production concept
• Product concept
• Selling concept• Marketing
concept Figure 1.3
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Societal Marketing Concept
• Societal marketing concept:– Determine needs/wants of target markets
– Deliver desired satisfactions– More efficiently and
effectively
– Maintain or improve consumer’s and society’s well-being
Figure 1.4
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Customer Satisfaction and Loyalty
• Customer __________– Relationship management
– Lifetime value– Perceived value
– Satisfaction
– Loyalty and retention
– Equity
Figure 1.5
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Today’s Marketing Connections
• The Internet
• One to one marketing
• Selective relationship management
• Increase share of customer
• Partner relationship management
• Supply chain management
• Strategic alliances
Figure 1.6
Principles of Marketing: 6th Canadian Edition
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Marketing Connections in Transition
Old marketing thinking:• Sales/product centered…
• Practice mass marketing…
• Focus on product/sales…
• Make sales to customers…
• Get new customers…
• Grow share of market…
• Serve any customer…
• Use mass media…
• Standardized products…
• Sales/marketing responsible for customer satisfaction/value…
• Go it alone…
• Market locally…
• Profit responsibility…
• Corporations…
• Use marketplaces…
New marketing thinking:• Market/customer centered
• Selected market segments
• Focus on customer satisfaction/value
• Develop customer relationships
• Keep old customers
• Grow share of customer
• Serve profitable customers
• Connect with customers directly
• Customized products
• Enlist all departments to deliver customer satisfaction/value
• Partner with others
• Market locally and globally
• Social/environmental responsibility
• Non-profits
• Use marketspaces
Principles of Marketing: 6th Canadian Edition
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In Conclusion…
• The learning objectives for this chapter were:– Define what marketing is and discuss its core concepts
– Define marketing management and compare the five marketing management orientations
– Discuss customer relationship management and strategies for building lasting customer relationships
– Analyze the major challenges facing marketers heading into the new “connected” millennium