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...
What Motivates a Consumer
to Take Action?
 NeedsNeeds – NOT invented by marketers. They are a basic parts
of human makeup...
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 se...
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
an...
Marketing Management
Philosophies(2)
Product Concept
• Consumers favor products that offer
the most quality, performance,
...
Marketing Management
Philosophies(3)
Selling Concept
• Consumers will not buy enough of the
organization’s products unless...
Marketing Management
Philosophies(4)
Marketing Concept
• Focuses on needs/ wants of target markets
& delivering satisfacti...
Selling vs. Marketing
Concepts Contrasted
Factory
Existing
Products
Selling
and
Promoting
Profits
through Sales
Volume
Mar...
Marketing Myopia
 When organization doesn't consider customer need
and want, competitors product, future opportunity
only...
Marketing Management
Philosophies (5)
Society
(Human Welfare)
Society
(Human Welfare)
Consumers
(Wants)
Consumers
(Wants)
...
Marketing Mix.
 Marketing mix is set of control over element which must be
control by organization.
 4 p’s of marketing ...
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 strateg...
‘’Quotes….. ‘’
“Our goal is to lead customers where they want to
go before they know where they want to go.”
The End
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Mkt201 Ch 1

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Mkt201 Ch 1

  1. 1. Chapter 1 MARKETING : CREATING AND CAPTURING CUSTOMER VALUE BY: AZIMUL ISLAM
  2. 2. 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.
  3. 3. 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.
  4. 4. Value  Value means differences between benefit and cost.(Benefit-Cost = Value)
  5. 5. Customer Satisfaction /Delight  Customer satisfaction is the ultimate goal of marketers  Customer delight occurs when set up expectations is less than provided service.
  6. 6. Market  “Market” in marketing term: A set of all actual and potential buyers of a product or service.
  7. 7. 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
  8. 8. 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
  9. 9. 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
  10. 10. 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
  11. 11. 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
  12. 12. Marketing Myopia  When organization doesn't consider customer need and want, competitors product, future opportunity only narrowly focuses on own product
  13. 13. 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 ”
  14. 14. 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
  15. 15. 4 C’s (from Customer point of view) i. Customer need ii. Cost iii. Convenient Location iv. Communication
  16. 16. 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
  17. 17. ‘’Quotes….. ‘’ “Our goal is to lead customers where they want to go before they know where they want to go.”
  18. 18. The End
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