principles of marketing 15e ppt ch 01

5/27/2018 Principles of Marketing 15e PPT Ch 01

1/371- 1Copyright 2012 Pearson Education, Inc.

Publishing as Prentice Hall

i t s good andgood for you

Chapter 1

Marketing:Creating and Capturing Customer Value




Creating and Capturing Customer

Value

What Is Marketing?

Understand the Marketplace and Customer Needs

Designing a Customer-Driven Marketing Strategy Preparing an Integrated Marketing Plan and Program

Building Customer Relationships

Capturing Value from Customers

The Changing Marketing Landscape

Topic Outline




What Is Marketing?

Marketingis a process by which

companies create value for customers and

build strong customer relationships to

capture value from customers in return




What Is Marketing?

The Marketing Process




Understanding the Marketplace

and Customer Needs

States of deprivation

Physicalfood, clothing, warmth, safety

Socialbelonging and affection

Individualknowledge and self-expression

Needs

Form that needs take as they are shaped by cultureand individual personalityWants

Wants backed by buying powerDemands

Customer Needs, Wants, and Demands


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Copyright 2012 Pearson Education, Inc.



and Customer Needs

Market offerings are somecombination of products,services, information, or

experiences offered to amarket to satisfy a need orwant

Marketing myopia isfocusing only on existing

wants and losing sight ofunderlying consumerneeds


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and Customer Needs

Customer Value and Satisfaction

Expectations

Customers

Value andsatisfaction

Marketers

Set the right level ofexpectations

Not too high or low


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Exchangeis the act of obtaining a desiredobject from someone by offering

something in return


and Customer Needs


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and Customer Needs

Marketsare the set of actual and

potential buyers of a product


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Designing a Customer-Driven

Marketing Strategy

Marketing management is the art and

science of choosing target markets and

building profitable relationships with them

What customers will we serve?

How can we best serve these customers?


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Marketing Strategy

Market segmentation refers to dividing the

markets into segments of customers

Target marketing refers to which segments

to go after

Selecting Customers to Serve


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Marketing Strategy

Choosing a Value Proposition

Value proposition

Set of benefits orvalues a company

promises to deliver to

customers to satisfytheir needs


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Marketing Strategy

Productionconcept

Productconcept

Sellingconcept

Marketingconcept

Societalconcept

Marketing Management Orientations


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Marketing Strategy

Production concept is the idea that

consumers will favor products that are

available or highly affordable



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Marketing Strategy

Product concept is the idea that consumers

will favor products that offer the most

quality, performance, and features.

Organization should therefore devote its

energy to making continuous productimprovements.



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Marketing Strategy

Selling concept is the idea that consumers

will not buy enough of the firms productsunless it undertakes a large scale selling

and promotion effort



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Marketing Strategy


Marketing concept is the

idea that achieving

organizational goals

depends on knowing the

needs and wants of the

target markets anddelivering the desired

satisfactions better than

competitors do


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Marketing Strategy


Societal marketing concept

is the idea that a company

should make good marketingdecisions by considering

consumers wants, the

companys requirements,

consumers long-terminterests, and societys long-

run interests


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Marketing Strategy


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The marketing mix: set of tools (four Ps) the

firm uses to implement its marketing

strategy. It includes product, price,promotion, and place.

Integrated marketing program:

comprehensive plan that communicatesand delivers the intended value to chosen

customers.

Preparing an Integrated Marketing

Plan and Program


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The overall process of

building and maintaining

profitable customerrelationships by delivering

superior customer value

and satisfaction

Customer Relationship Management (CRM)


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Building Customer RelationshipsRelationship Building Blocks: Customer Value

and Satisfaction

Customer-perceived value

The differencebetween totalcustomer valueand totalcustomer cost

Customersatisfaction

The extent towhich aproductsperceivedperformance

matches abuyersexpectations


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Customer Relationship Levels and Tools

Basic

Relationships

FullPartnerships


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Relating with more carefully selected

customers uses selective relationshipmanagement to target fewer, moreprofitable customers

Relating more deeply and interactively by

incorporating more interactive two wayrelationships through blogs, Websites,online communities and social networks

The Changing Nature of CustomerRelationships


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Customer-managed relationships

Marketing relationships in which

customers, empowered by todays new

digital technologies, interact withcompanies and with each other to shape

their relationships with brands.

The Changing Nature of CustomerRelationships


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Partner relationship management involves

working closely with partners in other

company departments and outside thecompany to jointly bring greater value to

customers



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Partners inside the company is every

function area interacting with customers

Electronically

Cross-functional teams

Partners outside the company is how

marketers connect with their suppliers,channel partners, and competitors by

developing partnerships

Partner Relationship Management


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Supply chain is a channel that stretches

from raw materials to components to final

products to final buyers Supply chain management

Partner Relationship Management


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Customer lifetime value is the value of the

entire stream of purchases that the

customer wouldmake over a

lifetime of

patronage

Creating Customer Loyalty and Retention


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Share of customer is the portion of the

customers purchasing that a company getsin its product categories

Growing Share of Customer


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Capturing Value from

CustomersCustomer equity is

the total combined

customer lifetimevalues of all of the

companys

customers


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Right relationships with the right customersinvolves treating customers as assets that

need to be managed and maximized Different types of customers require

different relationship managementstrategies

Building Customer Equity


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The Changing Marketing

Landscape

Uncertain Economic Environment

New consumer frugality

Marketers focus on value for the customer



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Landscape

Digital Age

People are connected continuously to people

and information worldwide Marketers have great new tools to

communicate with customers

Internet + mobile communication devices

creates environment for online marketing


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Landscape

Rapid Globalization

Sustainable Marketing

Not-for-Profit Marketing


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So, What Is Marketing?

Pulling It All Together


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1 37Copyright 2012 Pearson Education Inc

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