1a Marketing Concept, Role of Marketing in Corporate & Society

Chapter 1a: Marketing Concept, Role of Marketing in Corporate & Society
Chapter 1- slide 1
What Is Marketing?
Marketing is a process by which companies create value for customers and build strong customer relationships to capture value from customers in return
Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall
Chapter 1- slide 2
Marketing Process
A model of marketing process
Understand customer needs and wants Build profitable relationships and create customer delight
Design customer oriented marketing strategy
Construct marketing program that delivers superior value
Capture customer value from customer to create profits and customer quality
1-3
Chapter 1- slide 3
Understanding the Marketplace
Core Concepts
Needs, wants, and demands Marketing offers: including products, services and experiences Value and satisfaction Exchange, transactions and relationships Markets
Need
State of felt deprivation Example: Need food
Wants
The form of needs as shaped by culture and the individual Example: Want a Big Mac
Demands
Wants which are backed by buying power
1-4
Chapter 1- slide 4
Core Concepts
Marketing offer
Combination of products, services, information or experiences that satisfy a need or want Offer may include services, activities, people, places, information or ideas
1-5
Chapter 1- slide 5
Core Concepts
Value
Customers form expectations regarding value Marketers must deliver value to consumers
Satisfaction
A satisfied customer will buy again and tell others about their good experience
1-6
Chapter 1- slide 6
Core Concepts
Exchange
The act of obtaining a desired object from someone by offering something in return One exchange is not the goal, relationships with several exchanges are the goal Relationships are built through delivering value and satisfaction
1-7
Chapter 1- slide 7
Core Concepts
Market
Set of actual and potential buyers of a product Marketers seek buyers that are profitable
1-8
Chapter 1- slide 8
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?
Chapter 1- slide 9

Selecting Customers to Serve
Market segmentation refers to dividing the markets into segments of customers
Target marketing refers to which segments to go after
Chapter 1- slide 10

Selecting Customers to Serve
Demarketing is marketing to reduce demand temporarily or permanently; the aim is not to destroy demand but to reduce or shift it
Chapter 1- slide 11

Choosing a Value Proposition The value proposition is the set of
benefits or values a company promises to deliver to customers to satisfy their needs
Chapter 1- slide 12

Marketing Management Orientations
Production concept
Product concept
Selling concept
Marketing concept
Societal concept
Chapter 1- slide 13

Production concept is the idea that consumers will favor products that are available or highly affordable
Chapter 1- slide 14

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 product improvements.
Chapter 1- slide 15

Selling concept is the idea that consumers will not buy enough of the firms products unless it undertakes a large scale selling and promotion effort
Chapter 1- slide 16

Marketing concept is the idea that achieving organizational goals depends on knowing the needs and wants of the target markets and delivering the desired satisfactions better than competitors do
Chapter 1- slide 17

Marketing Management Orientations Societal marketing concept is the idea that a company should make good marketing decisions by considering consumers wants, the companys requirements, consumers long-term interests, and societys long-run interests
Chapter 1- slide 18
Preparing an Integrated Marketing Plan and Program

The marketing mix is the set of tools (four Ps) the firm uses to implement its marketing strategy. It includes product, price, promotion, and place. Integrated marketing program is a comprehensive plan that communicates and delivers the intended value to chosen customers.
Chapter 1- slide 19
Major Marketing Functions
13 | 1Chapter20 slide 20
Major Marketing Functions (contd)
Utility: The Value Added by Marketing

The ability of a good or service to satisfy a human need Form utility- Created by converting finished products production inputs into
Place utility- Created by making a product available at a location where customers wish to purchase
it
Time utility- Created by making a product available when customers wish to purchase it Possession utility- Created by transferring title (ownership) of a product to buyer
Markets and Their Classification

Market
A group of individuals or organizations, or both, that need products in a given category and that have the ability, willingness, and authority to purchase such products
Consumer markets
Purchasers and/or households members who intend to consume or benefit from the purchased products and who do not buy products to make a profit
Business-to-business (industrial) markets

Producer, reseller, governmental, and institutional customers that purchase specific kinds of products for use in making other products for resale or for day-to-day operations
Developing Marketing Strategies Marketing strategy

A plan that will enable an organization to make the best use of its resources and advantages to meet its objectives
Consists of
The selection and analysis of a target market The creation and maintenance of an appropriate marketing mix (a combination of product, price, distribution, and promotion developed to satisfy a particular target market)
Developing Marketing Strategies (contd)

Target market selection and evaluation
Target market
A group of individuals, organizations, or both, for which a firm develops and maintains a marketing mix suitable for the specific needs and preferences of that group
Market segment
A group of individuals or organizations within a market that share one or more common characteristics
Market segmentation
The process of dividing a market into segments and directing a marketing mix at a particular segment or segments rather than at the total market
Role of Marketing in Corporate & Society
26 Chapter 1- slide 26
The Importance of Marketing in Our Global

Economy
Consumes Large Proportion of Buyers Dollars Creates Career Prospects
Is Used by Non-Profits
Promotes Welfare of Consumers and Society
Marketing
Is Important to Business and the Economy
Connects People through Technology

Enhances Consumer Awareness
Fuels the Global Economy
1-27 Chapter 1- slide 27
Business Actions Toward Socially Responsible Marketing
Enlightened Marketing
Consumer-Oriented Marketing Innovative Marketing
Value Marketing Societal Marketing Sense-of-Mission Marketing

Chapter 1- slide 28
20 - 28

Customer-Oriented Marketing:
Companies view and organize their marketing activities from the consumers point of view.
Innovative Marketing:
Companies seek real product and marketing improvements.
20 - 29
Chapter 1- slide 29

Value Marketing:
Companies put most of their resources into value-building marketing investments.
Sense-of-Mission Marketing:
Companies define their mission in broad social terms rather than in narrow product terms.
20 - 30
Chapter 1- slide 30

Societal Marketing:
Companies make marketing decisions by considering consumers wants, the companys requirements, consumers long-run interests, and societys long-run interests.
20 - 31
Chapter 1- slide 31

Societal Classification of Products
Deficient products Pleasing products Salutary products Desirable products
20 - 32
Chapter 1- slide 32

Marketing Ethics
Corporate Marketing Ethics Policies Guiding Principle in Policy Determination
Free market and legal system Individual companies and managers
International Ethical Policies are a Special Challenge

20 - 33
Chapter 1- slide 33
Building Customer Relationships

Customer Relationship Management (CRM) The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction
Chapter 1- slide 34

Relationship Building Blocks: Customer Value and Satisfaction
Customerperceived value The difference between total customer value and total customer cost Customer satisfaction The extent to which a products perceived performance matches a buyers expectations
Chapter 1- slide 35

Customer Relationship Levels and Tools
Basic Relationships
Full Partnerships
Chapter 1- slide 36

The Changing Nature of Customer Relationships
Relating with more carefully selected customers uses selective relationship management to target fewer, more profitable customers Relating more deeply and interactively by incorporating more interactive two way relationships through blogs, Websites, online communities and social networks
Chapter 1- slide 37

Partner relationship management involves working closely with partners in other company departments and outside the company to jointly bring greater value to customers
Chapter 1- slide 38

Partner Relationship Management
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
Chapter 1- slide 39

Partner Relationship Management
Supply chain is a channel that stretches from raw materials to components to final products to final buyers Supply management Strategic partners Strategic alliances
Chapter 1- slide 40
Capturing Value from Customers
Key Concepts Customer delight

Customer Loyalty and Retention Share of Customer Customer Equity
leads to emotional relationships and loyalty Customer Lifetime Value shows true worth of a customer
1 - 41
Chapter 1- slide 41
Key Concepts Share of customers

Customer Loyalty and Retention Share of Customer Customer Equity purchase in a product category. Achieved through offering greater variety, cross-sell and up-sell strategies.
1 - 42
Chapter 1- slide 42
Key Concepts
Customer Loyalty and Retention Share of Customer Customer Equity
The combined customer lifetime values of all current and potential customers. Measures a firms performance, but in a manner that looks to the future. Choosing the best customers is key
1 - 43
Chapter 1- slide 43
Marketing Landscape
Challenges
Digital age Globalization Ethics and social responsibility Not-for-profit marketing Marketing relationships Copyright 2010 Pearson Education, Inc.
Publishing as Prentice Hall
Growth of the Internet Advances in telecommunications, information, transportation

Customer research and tracking Product development Distribution New advertising tools 24/7 marketing through the Internet
1 - 44
Chapter 1- slide 44
Marketing Landscape
Challenges
Geographical and cultural distances have shrunk

Greater market coverage More options for purchasing and manufacturing Increased competition from foreign competitors
1 - 45
Chapter 1- slide 45
Marketing Landscape
Challenges
Marketers need to take great responsibility for the impact of their actions
Caring capitalism is a way to differentiate your company
1 - 46
Chapter 1- slide 46
Marketing Landscape
Challenges
Many organizations are realizing the importance of strategic marketing

Performing arts Government agencies Colleges Hospitals Churches
1 - 47
Chapter 1- slide 47
Marketing Landscape
Challenges
Profits through managing long-term customer equity

Improve customer knowledge Target profitable customers Keep profitable customers
1 - 48
Chapter 1- slide 48

1a Marketing Concept, Role of Marketing in Corporate &amp; Society

Caricato da

Informazioni sul documento

Descrizione originale:

Copyright

Formati disponibili

Condividi questo documento

Condividi o incorpora il documento

Opzioni di condivisione

Hai trovato utile questo documento?

Questo contenuto è inappropriato?

Copyright:

Formati disponibili

1a Marketing Concept, Role of Marketing in Corporate &amp; Society

Caricato da

Copyright:

Formati disponibili

Chapter 1a: Marketing Concept, Role of Marketing in Corporate & Society

Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall

Design customer oriented marketing strategy

Construct marketing program that delivers superior value

Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall

Understanding the Marketplace

Understanding the Marketplace

Understanding the Marketplace

Understanding the Marketplace

Understanding the Marketplace

Designing a Customer-Driven Marketing Strategy

Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall

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

Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall

Designing a Customer-Driven Marketing Strategy

Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall

Designing a Customer-Driven Marketing Strategy

benefits or values a company promises to deliver to customers to satisfy their needs

Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall

Designing a Customer-Driven Marketing Strategy

Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall

Designing a Customer-Driven Marketing Strategy

Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall

Designing a Customer-Driven Marketing Strategy

Designing a Customer-Driven Marketing Strategy

Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall

Designing a Customer-Driven Marketing Strategy

Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall

Designing a Customer-Driven Marketing Strategy

Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall

Preparing an Integrated Marketing Plan and Program

Major Marketing Functions

Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall

Major Marketing Functions (contd)

Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall

Utility: The Value Added by Marketing

Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall

Markets and Their Classification

Business-to-business (industrial) markets

Developing Marketing Strategies Marketing strategy

Developing Marketing Strategies (contd)

Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall

Role of Marketing in Corporate & Society

Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall

The Importance of Marketing in Our Global

Promotes Welfare of Consumers and Society

Is Important to Business and the Economy

Connects People through Technology

Fuels the Global Economy

1-27 Chapter 1- slide 27

Business Actions Toward Socially Responsible Marketing

Value Marketing Societal Marketing Sense-of-Mission Marketing

Business Actions Toward Socially Responsible Marketing

Business Actions Toward Socially Responsible Marketing

Business Actions Toward Socially Responsible Marketing

Business Actions Toward Socially Responsible Marketing

Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall

Business Actions Toward Socially Responsible Marketing

International Ethical Policies are a Special Challenge

Building Customer Relationships

Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall

1a Marketing Concept, Role of Marketing in Corporate & Society

1a Marketing Concept, Role of Marketing in Corporate & Society