• Share
  • Email
  • Embed
  • Like
  • Save
  • Private Content
Mkt201 Ch 1
 

Mkt201 Ch 1

on

  • 451 views

This file contents some basic concepts of marketin

This file contents some basic concepts of marketin

Statistics

Views

Total Views
451
Views on SlideShare
451
Embed Views
0

Actions

Likes
0
Downloads
7
Comments
0

0 Embeds 0

No embeds

Accessibility

Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

    Mkt201 Ch 1 Mkt201 Ch 1 Presentation Transcript

    • Chapter 1 MARKETING : CREATING AND CAPTURING CUSTOMER VALUE BY: AZIMUL ISLAM
    • What is Marketing?  Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at-large.  More simply: Marketing is the delivery of customer satisfaction at a profit.
    • What Motivates a Consumer to Take Action?  NeedsNeeds – NOT invented by marketers. They are a basic parts of human makeup: states of felt deprivation including physicalphysical needs for food, socialsocial needs for belonging and individualindividual needs for self- expression. E.g. I am thirsty.  WantsWants - form that a human need takes as shaped by culture and individual personality. E.g. I want a coca-cola.  DemandsDemands - human wants backed by buying power. E.g. I have money to buy a coca-cola.
    • Value  Value means differences between benefit and cost.(Benefit-Cost = Value)
    • Customer Satisfaction /Delight  Customer satisfaction is the ultimate goal of marketers  Customer delight occurs when set up expectations is less than provided service.
    • Market  “Market” in marketing term: A set of all actual and potential buyers of a product or service.
    • Marketing Management Philosophies(1) Production Concept • Demand > supply • Consumers favor products that are available and highly affordable • Improve production and distribution efficiency • Run a risk of focusing too narrowly on their own operation • Chinese PC,Mobile,CP fried chicken
    • Marketing Management Philosophies(2) Product Concept • Consumers favor products that offer the most quality, performance, and innovative features • Continuous product improvement • lead to Marketing Myopia • Railroad: trains vs. transportation • Consumers favor products that offer the most quality, performance, and innovative features • Continuous product improvement • lead to Marketing Myopia • Railroad: trains vs. transportation
    • Marketing Management Philosophies(3) Selling Concept • Consumers will not buy enough of the organization’s products unless the organization undertake a large-scale promotion/selling •Sell what they make rather than what the market want • focus on trade not long-term relationship • Unsought goods: encyclopedias, insurance • Consumers will not buy enough of the organization’s products unless the organization undertake a large-scale promotion/selling •Sell what they make rather than what the market want • focus on trade not long-term relationship • Unsought goods: encyclopedias, insurance
    • Marketing Management Philosophies(4) Marketing Concept • Focuses on needs/ wants of target markets & delivering satisfaction more effectively & efficiently than competitors • Total customer satisfaction •Overlook conflicts between consumer short-run wants and long-run welfare
    • Selling vs. Marketing Concepts Contrasted Factory Existing Products Selling and Promoting Profits through Sales Volume Market Customer Needs Integrated Marketing Profits through Customer Satisfaction Starting Point Focus Means Ends The Selling Concept: inside-out The Marketing Concept: Outside-in
    • Marketing Myopia  When organization doesn't consider customer need and want, competitors product, future opportunity only narrowly focuses on own product
    • Marketing Management Philosophies (5) Society (Human Welfare) Society (Human Welfare) Consumers (Wants) Consumers (Wants) Company (Profits) Company (Profits) Societal Marketing Concept Societal Marketing Concept Eg: Grameen Dano “ Shakti Doi ”
    • Marketing Mix.  Marketing mix is set of control over element which must be control by organization.  4 p’s of marketing (From Marketers point of view) i. Product ii. Price iii. Place iv. Promotion
    • 4 C’s (from Customer point of view) i. Customer need ii. Cost iii. Convenient Location iv. Communication
    • The Marketing Process •Understand the marketplace and customer needs and wants •Design a customer Driven marketing strategy •Construct a marketing program that delivers superior value •Build profitable relationships and create customer delight •Capture value from customers to create profits and customer quality
    • ‘’Quotes….. ‘’ “Our goal is to lead customers where they want to go before they know where they want to go.”
    • The End