Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
Market – A place where buyer meets seller to satisfy the needs and wants.
Buyer ; expects high quality products / pay less price
Seller ; high volume sales / high profit margin
Marketing – A place to study consumer needs and wants then create (R &D)
8 Ps
1. Products ; goods and services to satisfy consumer needs and wants
2. Place ; value – products and services (status and personality)
3. Packaging ; added value to products and services (attraction to consumer)
4. Price ; quality – personality and image / status
5. Promotion ; cultural value
6. People ; identify target market
7. Physical distribution channel – how to reach to them
8. Performance – product concept (what does it give back)
CORE CONCEPTS
Needs - emerge from a state felt deprivation
- distinguish among physical, social and individual
needs
CONS
- Violation of profit maximization
- Dilution of purpose ; the pursuit of social goals dilutes business’s primary purpose
- Costs ; many socially responsible activities don’t pay their way
- Too much power ; business is already one of the most powerful institutions in society
- Lack of skills ; marketers may be poorly qualified to deal with social issues
- Lack of accountability ; there are no direct lines of social accountability from the
business sector to the public
- Lack of broad public support ; even favourable attitude are general and lack consensus
on specific action marketers should take on social issues
DEFINING CUSTOMER VALUE
Elements of Customer Value
Customer Delivered Value
- Delivered value is defined as the difference between total customer value and total
customer cost. Consumers also weigh psychological costs such as image, reputation
and decision – time
Customer Satisfaction
- Satisfaction is the level of a person’s felt state resulting from comparing a product’s
perceived performance (or outcome) in relation to the person’s expectations
- Expectations are based upon customer’s past buying experience, the opinions of
friends and associates and market and competitor information
- Expectations may be realistic or unrealistic further, as the text observes, satisfaction
alone doesn’t retain customers
Total Customer Satisfaction aims at meeting, exceeding and then continually raising customer
expectations for product performance. To achieve this end, companies must track their
customer’s expectations, perceived company performance and customer satisfaction. The goal
; to create the customer delight – an emotional affinity for a product or service not just a
rational preferences. This kind of bond is required for obtaining high customer loyalty in an
increasingly competitive marketplace.
A key concept ; market engineering – the process of designing the whole company system to
deliver customer value at every level
VALUE CHAIN
The Generic Value Chain Primary Activities
Inbound Logistics
- Consist of those activities and their coordination that bring needed materials into the
business
- Value is added in the choice of materials and their integration into the business
operations in a timely manner
Operations
- The first step in developing materials into value – added products
- Operations add value through manufacturing innovations and process
Onbound Logistics
- Refer to the distribution system set up by the business
- As with inbound logistics, coordination and integration of the firm’s products and image
to create value
Marketing and Sales
- Marketing and sales educate consumer and position the firm’s products and image to
create value
Service
- Creates the value both by keeping the product’s performance in line with the customer
expectations and by demonstrating to the customer the firm’s commitment to meeting
customer needs
SUPPORT ACTIVITES (these activities occur within each primary activity)
Firm Infrastructure – how the firm is set up permeates each primary activity and determines
the parameters of action each activity can take
Human Resource Management – recruitment, training and evaluation add value in relation to
the competition’s efforts
Technology Development – all primary activities must develop and maintain technological
advantages
Procument – every primary activity procures inputs of both material and expertise
RELATIONSHIP MARKETING
Retaining Customers
- Getting new customers cost money ; marketers need to think in terms of how much of
each aspect of promotion mix and marketing mix must be spent each time a new
customer is recruited
- Current customers will need fewer of these expensive resources to make their buying
decision than will potential customers
Cost of Lost Customers
- Once marketers realize that losing customers is expensive, they need to determine how
to identify why customers are lost to measure the actual cost of customer loss
- A large company should prepare frequency distribution indicating the percentage of
customers who defect for different reasons ; this analysis will utilize the marketing
information system to help determine the cost of customer loss / even small business
can use focus groups and surveys to identify loss centers on a personal computer
database
Customer’s Lifestyle Value
- When the revenues of each customers are factored in, it is possible to determine the
customer’s lifetime value – the amount of profit generated each year for the company
over the lifetime of that customer’s business with the company
LEVELS OF RELATIONSHIP MARKETING
Relationship marketing involves creating, maintaining and enhancing strong relationships with
the customers and other stakeholders. Levels of relationships with customers include ;
1. Basic – the company sales person sells the product but doesn’t follow up in any way
2. Reactive – the sales person sells the product and encourage the customer to call
whenever he or she has any questions or problems
3. Accountable – the sales person contacts the customer shortly after the sale to check
performance and seek the customer’s suggest for improvement
4. Proactive – the sales person contacts the customer from time to time with suggestions
about improved products use or helpful new products
5. Partnership – the company work continuously with the customer and with another
customers to discover ways to deliver better value
TOTAL QUALITY MARKETING
Quality and Performance
Quality – the totality of features and characteristics of a product or service bear on its ability
to satisfy stated or implied needs
Performance Quality – refers to the level at which a product performs its function
Conformance Quality – refers to the freedom from defects and the consistency with which a
product delivers a specified level of performance
MARKETING STRATEGIES 2-2
PURSUING A TOTAL QUALITY MARKETING STRATEGY
1. Quality is in the eyes of the customer. A quality program must begin with the
customer’s needs and end with customer perceptions
2. Quality must reflect every company activity. Each functional area and each company
activity must understand and embody the total quality concept. A system cannot
consistently deliver quality concept if one or more of its components not operating
effectively
3. Quality requires total employee commitment – all company employees must be
personally committed to the total quality program / commitment requires both
professional and personal pride in the outcome
4. Quality requires high – quality partners. Value chain members of the customer delivery
system must also embody total quality commitment
5. Quality can always be improved