Principles of Marketing 15e PPT Ch 01
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Transcript of Principles of Marketing 15e PPT Ch 01
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5/27/2018 Principles of Marketing 15e PPT Ch 01
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i t s good andgood for you
Chapter 1
Marketing:Creating and Capturing Customer Value
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5/27/2018 Principles of Marketing 15e PPT Ch 01
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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
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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
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What Is Marketing?
The Marketing Process
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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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Understanding the Marketplace
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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Understanding the Marketplace
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
Understanding the Marketplace
and Customer Needs
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Understanding the Marketplace
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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Designing a Customer-Driven
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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Designing a Customer-Driven
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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Designing a Customer-Driven
Marketing Strategy
Productionconcept
Productconcept
Sellingconcept
Marketingconcept
Societalconcept
Marketing Management Orientations
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Designing a Customer-Driven
Marketing Strategy
Production concept is the idea that
consumers will favor products that are
available or highly affordable
Marketing Management Orientations
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Designing a Customer-Driven
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.
Marketing Management Orientations
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Designing a Customer-Driven
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
Marketing Management Orientations
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Designing a Customer-Driven
Marketing Strategy
Marketing Management Orientations
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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Designing a Customer-Driven
Marketing Strategy
Marketing Management Orientations
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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Designing a Customer-Driven
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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Building Customer Relationships
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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Building Customer Relationships
Customer Relationship Levels and Tools
Basic
Relationships
FullPartnerships
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Building Customer Relationships
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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Building Customer Relationships
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
Building Customer Relationships
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Building Customer Relationships
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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Building Customer Relationships
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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Capturing Value from Customers
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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Capturing Value from Customers
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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Capturing Value from Customers
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
The Changing Marketing
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The Changing Marketing
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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The Changing Marketing
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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Copyright 2012 Pearson Education, Inc.
Publishing as Prentice Hall