www.bookfiesta4u.com1-1PowerPoint byPowerPoint byMilton M. PressleyMilton M. PressleyCreative Assistance byCreative Assist...
Chapter 1Chapter 1Defining Marketing for theDefining Marketing for the2121stst CenturyCenturybybywww.bookfiesta4u.com1-2Po...
The future is not aheadThe future is not aheadof us. It has alreadyof us. It has alreadyhappened.happened.Kotler onMarketi...
Chapter ObjectivesIn this chapter we will address the followingIn this chapter we will address the followingquestions:ques...
The New EconomySubstantial increase in buying powerSubstantial increase in buying powerA greater variety of goods and serv...
The New EconomyWebsites can provide companies withWebsites can provide companies withpowerful new information and salespow...
The New EconomyCompanies can send ads, coupons,Companies can send ads, coupons,samples, information to targetedsamples, in...
The three major challenges faced byThe three major challenges faced bybusinesses today are globalization,businesses today ...
Marketing TaskTen rules of radical marketingTen rules of radical marketingThe CEO must own the marketing function.The CEO ...
Marketing TaskLove and respect your customers.Love and respect your customers.Create a community of consumers.Create a com...
The Scope of MarketingMarketing: typically seen as theMarketing: typically seen as thetask of creating, promoting, andtask...
Table 1.1DemandStates andMarketingTasks1. Negative1. NegativedemanddemandA major part of the market dislikes theA major pa...
Can you name a category ofCan you name a category ofproducts for which your negativeproducts for which your negativefeelin...
The Scope of MarketingPlacesPlacesPropertiesPropertiesOrganizationsOrganizationsGoodsGoodsServicesServicesExperiencesExper...
The DecisionsMarketers MakeConsumer MarketsConsumer MarketsBusiness MarketsBusiness MarketsGlobal MarketsGlobal Marketswww...
Marketing Conceptsand ToolsDefining MarketingDefining MarketingMarketingMarketingMarketing managementMarketing managementw...
Figure 1-1: A Simple Marketing Systemwww.bookfiesta4u.com1-17
Marketing Conceptsand ToolsMarketplace,Marketplace,Marketspace,Marketspace,andandwww.bookfiesta4u.com1-18andandMetamarketM...
Marketing Conceptsand ToolsMarketers and ProspectsMarketers and ProspectsNeeds, Wants, and DemandsNeeds, Wants, and Demand...
Marketing Conceptsand ToolsExchange and TransactionsExchange and TransactionsExchangeExchangeTransactionTransactionwww.boo...
Marketing Conceptsand ToolsRelationships and NetworksRelationships and NetworksRelationship marketingRelationship marketin...
Marketing Conceptsand ToolsBrand competitionBrand competitionIndustry competitionIndustry competitionForm competitionForm ...
Company OrientationsToward the MarketplaceProduction ConceptProduction ConceptProduct conceptProduct conceptwww.bookfiesta...
Company OrientationsToward the MarketplaceTarget MarketTarget MarketCustomer NeedsCustomer Needswww.bookfiesta4u.com1-24St...
Company OrientationsToward the MarketplaceIntegrated MarketingIntegrated MarketingExternal marketingExternal marketingwww....
Company OrientationsToward the MarketplaceProfitabilityProfitabilitySales declineSales declineSlow growthSlow growthwww.bo...
Company OrientationsToward the MarketplaceSocietal Marketing ConceptSocietal Marketing ConceptCauseCause--related marketin...
Can you identify the trends that haveCan you identify the trends that havemade the marketing concept, themade the marketin...
How Business andMarketing are ChangingCustomersCustomersBrand manufacturersBrand manufacturerswww.bookfiesta4u.com1-29Stor...
How Business andMarketing are ChangingCompany responses and adjustmentsCompany responses and adjustmentsReengineeringReeng...
How Business andMarketing are ChangingMarketer ResponsesMarketer Responsesand Adjustmentsand AdjustmentsCustomer relations...
Chapter 2Chapter 2Adapting Marketing To TheAdapting Marketing To TheNew EconomyNew Economybybywww.bookfiesta4u.com1-32Powe...
The Internet willThe Internet willcreate new winnerscreate new winnersand bury theand bury theKotler onMarketingwww.bookfi...
Chapter ObjectivesIn this chapter, we will address theIn this chapter, we will address thefollowing questions:following qu...
Adapting Marketing to theNew EconomyMajor Drivers of the New EconomyMajor Drivers of the New EconomyDigitization and Conne...
Procter & Gamble’s Reflect.com site allows customersProcter & Gamble’s Reflect.com site allows customersto design their ow...
Adapting Marketing to theNew EconomyIndustry ConvergenceIndustry ConvergenceHow Business Practices are ChangingHow Busines...
Table 2-1: Old Economy vs. New EconomyOld EconomyOld Economy New EconomyNew EconomyOrganize by product unitsOrganize by pr...
Adapting Marketing to theNew EconomyEveryone does the marketingEveryone does the marketingBuild brands through performance...
How Marketing PracticesHow Marketing Practicesare Changing: Eare Changing: E--BusinessBusinessEE--businessbusinessAdapting...
Customers can shop online at Calyx and Corolla orCustomers can shop online at Calyx and Corolla orask for a catalog and sh...
Adapting Marketing to theNew EconomyInternet Domains: B2BInternet Domains: B2B(Business to Business)(Business to Business)...
Figure 2-1:The Supplier-CustomerRelationship:Traditional andNew Economywww.bookfiesta4u.com1-43New EconomyStructures
www.transora.com: global online marketplace forwww.transora.com: global online marketplace forthe consumer packaged goods ...
Adapting Marketing to theNew EconomyInternet Domains: C2CInternet Domains: C2C(Consumer to Consumer)(Consumer to Consumer)...
CarPoint, leading metamediary for car buying, is a pureCarPoint, leading metamediary for car buying, is a pureclick compan...
Adapting Marketing to theNew EconomyBrick and Click companiesBrick and Click companieswww.bookfiesta4u.com1-47
Which is more important forWhich is more important fordeveloping an edeveloping an e--presence: the agilitypresence: the a...
Adapting Marketing to theNew EconomyHow Marketing Practices are Changing:How Marketing Practices are Changing:Setting Up W...
Would you be willing to give up one orWould you be willing to give up one ormore of the seven elements of an effectivemore...
Attracting and Keeping VisitorsAttracting and Keeping VisitorsHow can we get more prospects to know and visit our site?How...
Adapting Marketing to theNew EconomyContext factorsContext factorsContent factorsContent factorswww.bookfiesta4u.com1-52Co...
Adapting Marketing to theNew EconomyPlacing Ads and Promotions OnlinePlacing Ads and Promotions OnlineBanner adsBanner ads...
Infogate.com “pushes” targeted content and ads to thoseInfogate.com “pushes” targeted content and ads to thosewho are inte...
Adapting Marketing to theNew EconomyBuilding a Revenue and Profit ModelBuilding a Revenue and Profit ModelAdvertising inco...
Adapting Marketing to theNew EconomyHow Marketing Practices are Changing:How Marketing Practices are Changing:Customer Rel...
Adapting Marketing to theNew EconomyFocus disproportionate effortFocus disproportionate efforton high value customerson hi...
Table 2-3: Mass Marketing vs.One-to-One MarketingMass MarketingMass Marketing OneOne--toto--One MarketingOne MarketingAver...
Adapting Marketing to theNew EconomyFour steps for OneFour steps for One--toto--One MarketingOne MarketingDon’t go after e...
Adapting Marketing to theNew EconomyCustomer Databases andCustomer Databases andDatabase MarketingDatabase MarketingCustom...
Data Warehouses and Data MiningData Warehouses and Data MiningUsing the databaseUsing the databaseTo identify prospectsTo ...
Chapter 3Chapter 3Building CustomerBuilding CustomerSatisfaction, Value, andSatisfaction, Value, andRetentionRetentionbyby...
It is no longerIt is no longerenough to satisfyenough to satisfycustomers. You mustcustomers. You mustKotler onMarketingww...
Chapter ObjectivesIn this chapter, we will address theIn this chapter, we will address thefollowing questions:following qu...
Defining Customer Valueand SatisfactionCustomer Perceived Value (CPV)Customer Perceived Value (CPV)Total customer valueTot...
Figure 3-1:Determinantsof CustomerDeliveredValuewww.bookfiesta4u.com1-66Value
Total Customer SatisfactionTotal Customer SatisfactionSatisfactionSatisfactionCustomer ExpectationsCustomer ExpectationsDe...
Table 3-1: Tools for Tracking and MeasuringCustomer SatisfactionComplaintComplaintandandsuggestionsuggestionsystems:system...
Would you feel more brand loyalty for aWould you feel more brand loyalty for acompany that tried to immediately resolvecom...
Premier Dell.com is a special businessPremier Dell.com is a special business--oriented part of theoriented part of theDell...
The Nature of HighPerformance BusinessHighHigh--performance businessperformance businesswww.bookfiesta4u.com1-71
Figure 3-2: The High Performance Businesswww.bookfiesta4u.com1-72
The Nature of HighPerformance BusinessStakeholdersStakeholdersProcessesProcessesResourcesResourceswww.bookfiesta4u.com1-73...
Can you name a company that hasCan you name a company that haschanged the public’s perception ofchanged the public’s perce...
Delivering Customer Valueand SatisfactionValue ChainValue ChainValue chainValue chainwww.bookfiesta4u.com1-75
Figure 3-3: The Generic Value Chainwww.bookfiesta4u.com1-76
Delivering Customer Valueand SatisfactionBenchmarksBenchmarksCore Business ProcessesCore Business ProcessesThe market sens...
The Value Delivery NetworkThe Value Delivery Network(Supply Chain)(Supply Chain)Delivering Customer Valueand Satisfactionw...
Figure 3-4:LeviStrauss’sValue-Deliverywww.bookfiesta4u.com1-79DeliveryNetwork
Attracting and RetainingCustomersPartner relationshipPartner relationshipmanagement (PRM)management (PRM)Customer relation...
Saturn has gained a customer loyalty rateSaturn has gained a customer loyalty rateof more than 60% by fundamentallyof more...
Attracting and RetainingCustomersAttracting CustomersAttracting CustomersComputing the Cost ofComputing the Cost ofLost Cu...
On the Lands’ End Web site, customers can click aOn the Lands’ End Web site, customers can click abutton to talk with a cu...
Attracting and RetainingCustomersThe Need for Customer RetentionThe Need for Customer RetentionMeasuring CustomerMeasuring...
Figure 3-5:TheCustomer-DevelopmentProcesswww.bookfiesta4u.com1-85
Attracting and RetainingCustomersFive levels of investment inFive levels of investment incustomer relationship buildingcus...
Figure 3-6: Levels of Relationship Marketingwww.bookfiesta4u.com1-87
Attracting and RetainingCustomersForming Strong Customer Bonds:Forming Strong Customer Bonds:The BasicsThe BasicsCrossCros...
Organize and make accessible aOrganize and make accessible adatabase of customer informationdatabase of customer informati...
The H.O.G. Web site presents the benefits of joining.The H.O.G. Web site presents the benefits of joining.www.bookfiesta4u...
Attracting and RetainingCustomersAdding Social BenefitsAdding Social Benefitswww.bookfiesta4u.com1-91
Table 3-2:Social ActionsAffectingBuyer-SellerRelationshipsGood ThingsGood Things Bad ThingsBad ThingsInitiate positive pho...
Attracting and RetainingCustomersAdding Structural TiesAdding Structural TiesCreate longCreate long--term contractsterm co...
Customer Profitability,Company Profitability, andTotal Quality ManagementMeasuring ProfitabilityMeasuring Profitabilitywww...
Figure 3-7: Customer-Product Profitability Analysiswww.bookfiesta4u.com1-95
Figure 3-8: Allocating marketing investmentaccording to customer valuewww.bookfiesta4u.com1-96
Customer Profitability,Company Profitability, andTotal Quality ManagementIncreasing Company ProfitabilityIncreasing Compan...
Chapter 4Chapter 4Winning Markets ThroughWinning Markets ThroughMarketMarket--Oriented StrategicOriented StrategicPlanning...
Kotler onMarketingIt is more importantIt is more importantto do what isto do what isstrategically rightstrategically right...
Chapter ObjectivesIn this chapter, we examine theIn this chapter, we examine thefollowing questions:following questions:Ho...
Strategic Planning: Three Key Areasand Four Organization LevelsStrategic marketing planStrategic marketing planTacticalTac...
Corporate and DivisionStrategic PlanningAll corporate headquarters undertakeAll corporate headquarters undertakefour plann...
Corporate and DivisionStrategic PlanningDefining the Corporate MissionDefining the Corporate MissionMission statements def...
Can you name a company that hasCan you name a company that hasrecently changed its product scoperecently changed its produ...
Corporate and DivisionStrategic PlanningEstablishing Strategic Business UnitsEstablishing Strategic Business Units(SBUs)(S...
Table 4.1: Product-Oriented versus Market-OrientedDefinitions of a BusinessCompanyCompany Product DefinitionProduct Defini...
Corporate and DivisionStrategic PlanningThree characteristics of SBUsThree characteristics of SBUsSingle business or colle...
The GrowthThe Growth--Share MatrixShare MatrixRelative market shareRelative market shareFour CellsFour CellsQuestion Marks...
Can you give an example of a “Star”Can you give an example of a “Star”that skipped “Cash Cow”, and wentthat skipped “Cash ...
Corporate and DivisionStrategic PlanningThe General Electric ModelThe General Electric Modelwww.bookfiesta4u.com1-110
Table 4-2: Factors underlying Market Attractiveness and CompetitivePosition in GE Multifactor Portfolio Model: Hydraulic-P...
Corporate and DivisionStrategic PlanningCritique of Portfolio ModelsCritique of Portfolio ModelsPlanning New Businesses,Pl...
Corporate and DivisionStrategic PlanningIntensive GrowthIntensive Growthwww.bookfiesta4u.com1-113
Starbucks’ home page: Customers can request aStarbucks’ home page: Customers can request acatalog of Starbucks products, s...
Corporate and DivisionStrategic PlanningIntegrative GrowthIntegrative GrowthDiversification GrowthDiversification Growthww...
Give an example of a marketGive an example of a marketsegment where integrative growthsegment where integrative growthwoul...
Business UnitStrategic PlanningBusiness MissionBusiness MissionSWOT AnalysisSWOT AnalysisExternal Environment AnalysisExte...
Give some examples of companiesGive some examples of companiesthat have grown to dominate theirthat have grown to dominate...
Business UnitStrategic PlanningMarketing Opportunity Analysis (MOA)Marketing Opportunity Analysis (MOA)Can the benefits be...
Figure 4-7: Opportunity and Threat Matriceswww.bookfiesta4u.com1-120
Business UnitStrategic PlanningInternal Environmental AnalysisInternal Environmental Analysis(Strength/Weakness Analysis)(...
Business UnitStrategic PlanningPorter’s Generic StrategiesPorter’s Generic StrategiesOverall cost leadershipOverall cost l...
Travelocity’s Web site helps the consumer plan theTravelocity’s Web site helps the consumer plan thewhole vacationwhole va...
Operational Effectiveness and StrategyOperational Effectiveness and StrategyStrategic groupStrategic groupBusiness UnitStr...
Business UnitStrategic PlanningMarketing AlliancesMarketing AlliancesProduct or service alliancesProduct or service allian...
Business UnitStrategic PlanningFeedback and ControlFeedback and Controlwww.bookfiesta4u.com1-126
The Marketing ProcessSteps in the Planning ProcessSteps in the Planning ProcessThe marketing processThe marketing processA...
Figure 4-10:FactorsInfluencingCompanyMarketingStrategywww.bookfiesta4u.com1-128Strategy
Product Planning: The Nature andContents of a Marketing PlanContents of the Marketing PlanContents of the Marketing PlanEx...
Sample Marketing Plan: Sonic PersonalSample Marketing Plan: Sonic PersonalDigital AssistantDigital AssistantCurrent Market...
Implementation ControlsImplementation ControlsMarketing StrategyMarketing StrategyPositioningPositioningProduct Planning: ...
Chapter 5Chapter 5Gathering Information andGathering Information andMeasuring Market DemandMeasuring Market Demandbybywww....
Kotler onMarketingMarketing isMarketing isbecoming a battlebecoming a battlewww.bookfiesta4u.com1-133becoming a battlebeco...
Chapter ObjectivesIn this chapter, we focus on the followingIn this chapter, we focus on the followingquestions:questions:...
Marketing Information System (MIS)Marketing Information System (MIS)10 useful questions for determining the10 useful quest...
The Components of a ModernMarketing Information SystemWhat information would you want that you are notWhat information wou...
Internal Record SystemsThe OrderThe Order--toto--Payment CyclePayment CycleSales Information SystemsSales Information Syst...
Can you name a company that usesCan you name a company that usestargeted mailings to promote newtargeted mailings to promo...
The MarketingIntelligence SystemA Marketing Intelligence SystemA Marketing Intelligence Systemis a set of procedures and s...
What are some of the potentialWhat are some of the potentialhazards a company might face byhazards a company might face by...
The Marriott Vacation Club International Web siteThe Marriott Vacation Club International Web sitegives interested custome...
CEOExpress.com is a portal to informationCEOExpress.com is a portal to information––a usera userclicks on a listing and is...
Table 5-1: Secondary-Data SourcesSecondarySecondary--Data SourcesData SourcesA.A. Internal SourcesInternal SourcesCompany ...
Marketing Research SystemMarketing ResearchMarketing ResearchSuppliers of Marketing ResearchSuppliers of Marketing Researc...
Figure 5-1:The MarketingResearchProcesswww.bookfiesta4u.com1-145
Marketing Research SystemThe Marketing Research ProcessThe Marketing Research ProcessStep 1: Define the Problem, theStep 1...
Marketing Research SystemSurvey researchBehavioral dataExperimental researchResearch InstrumentsResearch Instrumentswww.bo...
Table 5-2: Types of QuestionsChildren onlyChildren onlyNo oneNo oneWith whom are you traveling on this flight?With whom ar...
Marketing Research SystemSampling PlanSampling unitSample sizewww.bookfiesta4u.com1-149Sampling procedure
www.wansink.com is a consumer psychologyWeb site set up by Dr. Brian Wansink of theUniversity of Illinoiswww.bookfiesta4u....
A.A.Probability SampleProbability SampleSimple random sampleSimple random sample Every member of the population has anEver...
B.B.NonprobabilityNonprobabilitySampleSampleConvenience sampleConvenience sample The researcher selects the mostThe resear...
Marketing Research SystemContact MethodsMail questionnairePersonal interviewingArranged interviewsIntercept interviewswww....
Marketing Research SystemStep 3: Collect theInformationStep 4: Analyze theInformationwww.bookfiesta4u.com1-154InformationS...
Table 5-4: The Seven Characteristics of GoodMarketing Research1. Scientific1. ScientificmethodmethodEffective marketing re...
Marketing Research SystemOvercoming Barriers to the Use ofOvercoming Barriers to the Use ofMarketing ResearchMarketing Res...
Marketing Decision SupportSystemMarketing Decision SupportMarketing Decision SupportSystem (MDSS)System (MDSS)Marketing an...
Table 5-5: Quantitative Tools Used in Marketing DecisionSupport SystemsStatistical ToolsStatistical Tools1. Multiple1. Mul...
Forecasting andDemand MeasurementThe Measures of Market DemandThe Measures of Market DemandFigure 5-3: Ninetywww.bookfiest...
Which Market toMeasure?MarketPotential marketAvailable marketForecasting andDemand Measurementwww.bookfiesta4u.com1-160Ava...
Figure 5-4: Market Demand FunctionsForecasting andDemand Measurementwww.bookfiesta4u.com1-161
Can you name a market segmentCan you name a market segmentwith a low penetration index? Awith a low penetration index? Ahi...
Forecasting and DemandMeasurementMarket ForecastMarket ForecastMarket PotentialMarket PotentialProduct penetrationProduct ...
Estimating Current demandEstimating Current demandTotal Market PotentialTotal Market PotentialArea Market PotentialArea Ma...
Table 5-6: Market-Buildup Method Using SIC CodesSICSIC(a)(a)AnnualAnnualSales inSales inMillionsMillionsof $of $(b)(b)Numb...
Forecasting and DemandMeasurementMultiple-Factor IndexMethodwww.bookfiesta4u.com1-166Brand developmentBrand developmentind...
Table 5-7: Calculating the BrandDevelopment Index (BDI)(a)(a)Percent ofPercent ofU.S. BrandU.S. Brand(b)(b)Percent ofPerce...
Forecasting and DemandMeasurementIndustry Sales and Market SharesEstimating Future DemandSurvey of Buyers’ Intentionswww.b...
Forecasting and DemandMeasurementComposite of Sales Force OpinionsExpert OpinionGroup discussion methodPooling of individu...
Chapter 6Chapter 6Scanning the MarketingScanning the MarketingEnvironmentEnvironmentbybywww.bookfiesta4u.com1-170PowerPoin...
Kotler onMarketingToday youToday youhave to runhave to runfaster to stayfaster to staywww.bookfiesta4u.com1-171faster to s...
Chapter ObjectivesIn this chapter, we focus on twoIn this chapter, we focus on twoquestions:questions:What are the key met...
Analyzing Needs and Trends inthe MacroenvironmentTrendTrendFadFadMegatrendsMegatrendswww.bookfiesta4u.com1-173MegatrendsMe...
Given the definitions for fads,Given the definitions for fads,trends, and megatrends presented intrends, and megatrends pr...
The substantial speedup of internationalThe substantial speedup of internationaltransportation, communication, and financi...
The severe debt problems of a number of countries,The severe debt problems of a number of countries,along with the increas...
The increasing tendency of multinationals to transcendThe increasing tendency of multinationals to transcendtheir location...
Demographic EnvironmentDemographic EnvironmentWorldwide PopulationWorldwide PopulationGrowthGrowthIdentifying and Respondi...
Can you identify one or moreCan you identify one or morenations whose populations hold thenations whose populations hold t...
Educational GroupsEducational GroupsHousehold PatternsHousehold PatternsGeographical Shifts inGeographical Shifts inIdenti...
Economic EnvironmentEconomic EnvironmentIncome DistributionIncome DistributionIdentifying and Responding to theMajor Macro...
Natural EnvironmentNatural EnvironmentShortage of Raw MaterialsShortage of Raw MaterialsIncreased Energy CostIncreased Ene...
Technological EnvironmentTechnological EnvironmentAccelerating Pace of ChangeAccelerating Pace of ChangeIdentifying and Re...
Varying R&D BudgetsVarying R&D BudgetsIncreased Regulation ofIncreased Regulation ofTechnological ChangeTechnological Chan...
SocialSocial--CulturalCulturalEnvironmentEnvironmentViews of themselvesViews of themselvesIdentifying and Responding to th...
High Persistence of CoreHigh Persistence of CoreCultural ValuesCultural ValuesExistence of subculturesExistence of subcult...
Chapter 7Chapter 7Analyzing ConsumerAnalyzing ConsumerMarkets and Buyer BehaviorMarkets and Buyer Behaviorbybywww.bookfies...
Kotler onMarketingThe mostThe mostimportantimportantthing is tothing is towww.bookfiesta4u.com1-188forecast whereforecast ...
In this chapter, we focus on two questions:In this chapter, we focus on two questions:How do the buyers’ characteristicsHo...
Consumer BehaviorConsumer BehaviorCultural FactorsCultural FactorsCultureCultureSubculturesSubculturesDiversity marketingD...
Social FactorsSocial FactorsReference GroupsReference GroupsReference groupsReference groupsMembership groupsMembership gr...
Table 7.1: Characteristics of Major U.S. Social Classes1.1. Upper UppersUpper Uppers(less than 1%)(less than 1%)The social...
Secondary groupsSecondary groupsAspirational groupsAspirational groupsDissociative groupsDissociative groupsOpinion leader...
FamilyFamilyFamily of orientationFamily of orientationFamily of procreationFamily of procreationRoles and StatusesRoles an...
With the “graying” of the American populace,With the “graying” of the American populace,marketers have begun to shift imag...
Personal FactorsPersonal FactorsAge and Stage in the Life CycleAge and Stage in the Life CycleFamily life cycleFamily life...
In recent years, many organizations haveIn recent years, many organizations have“provided” televisions with limited progra...
Table 7.2: Stages in the Family Life Cycle1. Bachelor stage:1. Bachelor stage:Young, single, not livingYoung, single, not ...
Figure 7.2: The VALS segmentation system:An 8-part typologyGroups with HighGroups with HighResourcesResources1.1. Actualiz...
SRI Consulting Business Intelligence’s Web siteSRI Consulting Business Intelligence’s Web sitewww.bookfiesta4u.com1-200
Personality and SelfPersonality and Self--ConceptConceptPersonalityPersonalityBrand personalityBrand personalitySincerityS...
Psychological FactorsPsychological FactorsMotivationMotivationMotiveMotiveFreud’s TheoryFreud’s TheoryInfluencing Buyer Be...
Ernest Dichter’s research found:Ernest Dichter’s research found:Consumers resist prunes because prunes areConsumers resist...
Maslow’s TheoryMaslow’s TheoryInfluencing Buyer BehaviorFigure 7.3:www.bookfiesta4u.com1-204Figure 7.3:Maslow’sHierarchy o...
Herzberg’s TheoryHerzberg’s TheoryDissatisfiersDissatisfiersSatisfiersSatisfiersInfluencing Buyer Behaviorwww.bookfiesta4u...
PerceptionPerceptionSelective attentionSelective attentionPeople are more likely to notice stimuli thanPeople are more lik...
LearningLearningDriveDriveCuesCuesDiscriminationDiscriminationInfluencing Buyer Behaviorwww.bookfiesta4u.com1-207Discrimin...
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  1. 1. www.bookfiesta4u.com1-1PowerPoint byPowerPoint byMilton M. PressleyMilton M. PressleyCreative Assistance byCreative Assistance byD. Carter and S. KogerD. Carter and S. Koger
  2. 2. Chapter 1Chapter 1Defining Marketing for theDefining Marketing for the2121stst CenturyCenturybybywww.bookfiesta4u.com1-2PowerPoint byPowerPoint byMilton M. PressleyMilton M. PressleyUniversity of New OrleansUniversity of New Orleans
  3. 3. The future is not aheadThe future is not aheadof us. It has alreadyof us. It has alreadyhappened.happened.Kotler onMarketingwww.bookfiesta4u.com1-3happened.happened.Unfortunately, it isUnfortunately, it isunequally distributedunequally distributedamong companies,among companies,industries and nations.industries and nations.
  4. 4. Chapter ObjectivesIn this chapter we will address the followingIn this chapter we will address the followingquestions:questions:What is the new economy like?What is the new economy like?What are the tasks of marketing?What are the tasks of marketing?www.bookfiesta4u.com1-4What are the tasks of marketing?What are the tasks of marketing?What are the major concepts and tools ofWhat are the major concepts and tools ofmarketing?marketing?What orientations do companies exhibit in theWhat orientations do companies exhibit in themarketplace?marketplace?How are companies and marketers responding toHow are companies and marketers responding tothe new challenges?the new challenges?
  5. 5. The New EconomySubstantial increase in buying powerSubstantial increase in buying powerA greater variety of goods and servicesA greater variety of goods and servicesA greater amount of information aboutA greater amount of information aboutpractically anythingpractically anythingwww.bookfiesta4u.com1-5practically anythingpractically anythingA greater ease in interacting and placingA greater ease in interacting and placingand receiving ordersand receiving ordersAn ability to compare notes on productsAn ability to compare notes on productsand servicesand services
  6. 6. The New EconomyWebsites can provide companies withWebsites can provide companies withpowerful new information and salespowerful new information and saleschannels.channels.Companies can collect fuller and richerCompanies can collect fuller and richerinformation about markets, customers,information about markets, customers,www.bookfiesta4u.com1-6information about markets, customers,information about markets, customers,prospects and competitors.prospects and competitors.Companies can facilitate and speed upCompanies can facilitate and speed upcommunications among employees.communications among employees.Companies can have 2Companies can have 2--waywaycommunication with customers andcommunication with customers andprospectsprospects
  7. 7. The New EconomyCompanies can send ads, coupons,Companies can send ads, coupons,samples, information to targetedsamples, information to targetedcustomers.customers.Companies can customize offerings andCompanies can customize offerings andservices to individual customers.services to individual customers.www.bookfiesta4u.com1-7services to individual customers.services to individual customers.The Internet can be used as aThe Internet can be used as acommunication channel for purchasing,communication channel for purchasing,training, and recruiting.training, and recruiting.Companies can improve logistics andCompanies can improve logistics andoperations for cost savings whileoperations for cost savings whileimproving accuracy and service quality.improving accuracy and service quality.
  8. 8. The three major challenges faced byThe three major challenges faced bybusinesses today are globalization,businesses today are globalization,advances in technology, and deregulation.advances in technology, and deregulation.www.bookfiesta4u.com1-8advances in technology, and deregulation.advances in technology, and deregulation.Which of these affords the greatestWhich of these affords the greatestopportunity foropportunity for establishedestablished businesses?businesses?Which affords the greatestWhich affords the greatestopportunities foropportunities for newnewbusinesses? Why?businesses? Why?
  9. 9. Marketing TaskTen rules of radical marketingTen rules of radical marketingThe CEO must own the marketing function.The CEO must own the marketing function.Make sure the marketing department startsMake sure the marketing department startssmall and flat and stays small and flat.small and flat and stays small and flat.www.bookfiesta4u.com1-9Get face to face with the people who matterGet face to face with the people who mattermostmost –– the customers.the customers.Use market research cautiously.Use market research cautiously.Hire only passionate missionaries.Hire only passionate missionaries.
  10. 10. Marketing TaskLove and respect your customers.Love and respect your customers.Create a community of consumers.Create a community of consumers.Rethink the marketing mix.Rethink the marketing mix.Celebrate common sense.Celebrate common sense.www.bookfiesta4u.com1-10Be true to the brand.Be true to the brand.Three stages of marketing practiceThree stages of marketing practiceEntrepreneurial MarketingEntrepreneurial MarketingFormulated MarketingFormulated MarketingIntrepreneurial MarketingIntrepreneurial Marketing
  11. 11. The Scope of MarketingMarketing: typically seen as theMarketing: typically seen as thetask of creating, promoting, andtask of creating, promoting, anddelivering goods and services todelivering goods and services toconsumers and businesses.consumers and businesses.www.bookfiesta4u.com1-11consumers and businesses.consumers and businesses.
  12. 12. Table 1.1DemandStates andMarketingTasks1. Negative1. NegativedemanddemandA major part of the market dislikes theA major part of the market dislikes theproduct and may even pay a price toproduct and may even pay a price toavoid itavoid it——vaccinations, dental work,vaccinations, dental work,vasectomies, and gallbladdervasectomies, and gallbladderoperations, for instance. Employers haveoperations, for instance. Employers havea negative demand for exa negative demand for ex--convicts andconvicts andalcoholics as employees. The marketingalcoholics as employees. The marketingtask is to analyze why the markettask is to analyze why the marketdislikes the product and whether adislikes the product and whether amarketing program consisting ofmarketing program consisting ofproduct redesign, lower prices, andproduct redesign, lower prices, andmore positive promotion can changemore positive promotion can changewww.bookfiesta4u.com1-12more positive promotion can changemore positive promotion can changebeliefs and attitudes.beliefs and attitudes.2. No demand2. No demand Target consumers may be unaware of orTarget consumers may be unaware of oruninterested in the product. Farmersuninterested in the product. Farmersmay not be interested in a new farmingmay not be interested in a new farmingmethod, and college students may notmethod, and college students may notbe interested in foreignbe interested in foreign--languagelanguagecourses. The marketing task is to findcourses. The marketing task is to findways to connect the benefits of theways to connect the benefits of theproduct with people’s natural needs andproduct with people’s natural needs andinterests.interests.See text for complete table
  13. 13. Can you name a category ofCan you name a category ofproducts for which your negativeproducts for which your negativefeelings have softened?feelings have softened?www.bookfiesta4u.com1-13feelings have softened?feelings have softened?What precipitatedWhat precipitatedthis change?this change?
  14. 14. The Scope of MarketingPlacesPlacesPropertiesPropertiesOrganizationsOrganizationsGoodsGoodsServicesServicesExperiencesExperienceswww.bookfiesta4u.com1-14OrganizationsOrganizationsInformationInformationIdeasIdeasExperiencesExperiencesEventsEventsPersonsPersons
  15. 15. The DecisionsMarketers MakeConsumer MarketsConsumer MarketsBusiness MarketsBusiness MarketsGlobal MarketsGlobal Marketswww.bookfiesta4u.com1-15Global MarketsGlobal MarketsNonprofit andNonprofit andGovernmental MarketsGovernmental Markets
  16. 16. Marketing Conceptsand ToolsDefining MarketingDefining MarketingMarketingMarketingMarketing managementMarketing managementwww.bookfiesta4u.com1-16Marketing managementMarketing managementCore Marketing ConceptsCore Marketing ConceptsTarget Markets andTarget Markets andSegmentationSegmentation
  17. 17. Figure 1-1: A Simple Marketing Systemwww.bookfiesta4u.com1-17
  18. 18. Marketing Conceptsand ToolsMarketplace,Marketplace,Marketspace,Marketspace,andandwww.bookfiesta4u.com1-18andandMetamarketMetamarket
  19. 19. Marketing Conceptsand ToolsMarketers and ProspectsMarketers and ProspectsNeeds, Wants, and DemandsNeeds, Wants, and DemandsProduct, Offering, and BrandProduct, Offering, and BrandValue and SatisfactionValue and Satisfactionwww.bookfiesta4u.com1-19Value and SatisfactionValue and SatisfactionCustomer value triadCustomer value triadValueValueValue = Benefits / Costs =Value = Benefits / Costs =(Functional benefits + Emotional benefits) /(Functional benefits + Emotional benefits) /(Monetary costs + Time costs + Energy costs +(Monetary costs + Time costs + Energy costs +Psychic costs)Psychic costs)
  20. 20. Marketing Conceptsand ToolsExchange and TransactionsExchange and TransactionsExchangeExchangeTransactionTransactionwww.bookfiesta4u.com1-20TransactionTransactionBarterBarterTransferTransferBehavioral responseBehavioral response
  21. 21. Marketing Conceptsand ToolsRelationships and NetworksRelationships and NetworksRelationship marketingRelationship marketingMarketing networkMarketing networkwww.bookfiesta4u.com1-21Marketing networkMarketing networkMarketing ChannelsMarketing ChannelsSupply ChainSupply ChainCompetitionCompetition
  22. 22. Marketing Conceptsand ToolsBrand competitionBrand competitionIndustry competitionIndustry competitionForm competitionForm competitionGeneric competitionGeneric competitionwww.bookfiesta4u.com1-22Generic competitionGeneric competitionMarketing environmentMarketing environmentTask environmentTask environmentBroad environmentBroad environmentMarketing ProgramMarketing ProgramMarketing programMarketing programMarketing mixMarketing mix
  23. 23. Company OrientationsToward the MarketplaceProduction ConceptProduction ConceptProduct conceptProduct conceptwww.bookfiesta4u.com1-23Selling ConceptSelling ConceptMarketing ConceptMarketing Concept
  24. 24. Company OrientationsToward the MarketplaceTarget MarketTarget MarketCustomer NeedsCustomer Needswww.bookfiesta4u.com1-24Stated needsStated needsReal needsReal needsUnstated needsUnstated needsDelight needsDelight needsSecret needsSecret needs
  25. 25. Company OrientationsToward the MarketplaceIntegrated MarketingIntegrated MarketingExternal marketingExternal marketingwww.bookfiesta4u.com1-25Internal marketingInternal marketing
  26. 26. Company OrientationsToward the MarketplaceProfitabilityProfitabilitySales declineSales declineSlow growthSlow growthwww.bookfiesta4u.com1-26Slow growthSlow growthChanging buying patternsChanging buying patternsIncreasing competitionIncreasing competitionIncreasing marketingIncreasing marketingexpendituresexpenditures
  27. 27. Company OrientationsToward the MarketplaceSocietal Marketing ConceptSocietal Marketing ConceptCauseCause--related marketingrelated marketingwww.bookfiesta4u.com1-27
  28. 28. Can you identify the trends that haveCan you identify the trends that havemade the marketing concept, themade the marketing concept, thecustomer concept, and the societalcustomer concept, and the societalwww.bookfiesta4u.com1-28customer concept, and the societalcustomer concept, and the societalmarketing concept more attractivemarketing concept more attractivemodels for contemporarymodels for contemporarymarketing managers?marketing managers?
  29. 29. How Business andMarketing are ChangingCustomersCustomersBrand manufacturersBrand manufacturerswww.bookfiesta4u.com1-29StoreStore--based retailersbased retailers
  30. 30. How Business andMarketing are ChangingCompany responses and adjustmentsCompany responses and adjustmentsReengineeringReengineeringOutsourcingOutsourcingPartnerPartner--supplierssuppliersMarketMarket--centeredcenteredwww.bookfiesta4u.com1-30OutsourcingOutsourcingEE--commercecommerceBenchmarkingBenchmarkingAlliancesAlliancesMarketMarket--centeredcenteredGlobal and localGlobal and localDecentralizedDecentralized
  31. 31. How Business andMarketing are ChangingMarketer ResponsesMarketer Responsesand Adjustmentsand AdjustmentsCustomer relationshipCustomer relationshipmarketingmarketingIntegrated marketingIntegrated marketingcommunicationscommunicationswww.bookfiesta4u.com1-31marketingmarketingCustomer lifetime valueCustomer lifetime valueCustomer shareCustomer shareTarget marketingTarget marketingCustomizationCustomizationCustomer databaseCustomer databasecommunicationscommunicationsChannels as partnersChannels as partnersEvery employee aEvery employee amarketermarketerModelModel--based decisionbased decisionmakingmaking
  32. 32. Chapter 2Chapter 2Adapting Marketing To TheAdapting Marketing To TheNew EconomyNew Economybybywww.bookfiesta4u.com1-32PowerPoint byPowerPoint byMilton M. PressleyMilton M. PressleyUniversity of New OrleansUniversity of New Orleans
  33. 33. The Internet willThe Internet willcreate new winnerscreate new winnersand bury theand bury theKotler onMarketingwww.bookfiesta4u.com1-33and bury theand bury thelaggards.laggards.
  34. 34. Chapter ObjectivesIn this chapter, we will address theIn this chapter, we will address thefollowing questions:following questions:What are the major forces driving the NewWhat are the major forces driving the NewEconomy?Economy?www.bookfiesta4u.com1-34Economy?Economy?How are business and marketing practicesHow are business and marketing practiceschanging as a result of the New Economy?changing as a result of the New Economy?How are marketers using the Internet,How are marketers using the Internet,customer databases, and customercustomer databases, and customerrelationship management in the Newrelationship management in the NewEconomy?Economy?
  35. 35. Adapting Marketing to theNew EconomyMajor Drivers of the New EconomyMajor Drivers of the New EconomyDigitization and ConnectivityDigitization and ConnectivityDisintermediation andDisintermediation andwww.bookfiesta4u.com1-35Disintermediation andDisintermediation andReintermediationReintermediationCustomization andCustomization andCustomerizationCustomerization
  36. 36. Procter & Gamble’s Reflect.com site allows customersProcter & Gamble’s Reflect.com site allows customersto design their own beauty productsto design their own beauty productswww.bookfiesta4u.com1-36
  37. 37. Adapting Marketing to theNew EconomyIndustry ConvergenceIndustry ConvergenceHow Business Practices are ChangingHow Business Practices are ChangingOrganize by product units to organize byOrganize by product units to organize bycustomer segmentscustomer segmentswww.bookfiesta4u.com1-37customer segmentscustomer segmentsShift focus from profitable transactions toShift focus from profitable transactions tocustomer lifetime valuecustomer lifetime valueShift focus from financial scorecard to alsoShift focus from financial scorecard to alsofocusing on the marketing scorecardfocusing on the marketing scorecardShift focus from shareholders to stakeholdersShift focus from shareholders to stakeholders
  38. 38. Table 2-1: Old Economy vs. New EconomyOld EconomyOld Economy New EconomyNew EconomyOrganize by product unitsOrganize by product unitsFocus on profitable transactionsFocus on profitable transactionsLook primarily at financialLook primarily at financialscorecardscorecardFocus on shareholdersFocus on shareholdersOrganize by customer segmentsOrganize by customer segmentsFocus on customer lifetime valueFocus on customer lifetime valueLook also at marketing scorecardLook also at marketing scorecardFocus on stakeholdersFocus on stakeholdersEveryone does the marketingEveryone does the marketingwww.bookfiesta4u.com1-38Marketing does the marketingMarketing does the marketingBuild brands through advertisingBuild brands through advertisingFocus on customer acquisitionFocus on customer acquisitionNo customer satisfactionNo customer satisfactionmeasurementmeasurementOverpromise, underdeliverOverpromise, underdeliverEveryone does the marketingEveryone does the marketingBuild brands through behaviorBuild brands through behaviorFocus on customer retention andFocus on customer retention andgrowthgrowthMeasure customer satisfaction andMeasure customer satisfaction andretention rateretention rateUnderpromise, overdeliverUnderpromise, overdeliver
  39. 39. Adapting Marketing to theNew EconomyEveryone does the marketingEveryone does the marketingBuild brands through performance,Build brands through performance,not just advertisingnot just advertisingCustomer retention ratherCustomer retention ratherwww.bookfiesta4u.com1-39Customer retention ratherCustomer retention ratherthan customer acquisitionthan customer acquisitionFrom none to inFrom none to in--depth customerdepth customersatisfaction measurementsatisfaction measurementFrom overFrom over--promise, underpromise, under--deliver todeliver tounderunder--promise, overpromise, over--deliverdeliverThe New HybridThe New Hybrid
  40. 40. How Marketing PracticesHow Marketing Practicesare Changing: Eare Changing: E--BusinessBusinessEE--businessbusinessAdapting Marketing to theNew Economywww.bookfiesta4u.com1-40EE--businessbusinessEE--commercecommerceEE--purchasingpurchasingEE--marketingmarketingInternet Domains: B2CInternet Domains: B2C(Business to Customer)(Business to Customer)
  41. 41. Customers can shop online at Calyx and Corolla orCustomers can shop online at Calyx and Corolla orask for a catalog and shop by phoneask for a catalog and shop by phonewww.bookfiesta4u.com1-41
  42. 42. Adapting Marketing to theNew EconomyInternet Domains: B2BInternet Domains: B2B(Business to Business)(Business to Business)www.bookfiesta4u.com1-42
  43. 43. Figure 2-1:The Supplier-CustomerRelationship:Traditional andNew Economywww.bookfiesta4u.com1-43New EconomyStructures
  44. 44. www.transora.com: global online marketplace forwww.transora.com: global online marketplace forthe consumer packaged goods industrythe consumer packaged goods industrywww.bookfiesta4u.com1-44
  45. 45. Adapting Marketing to theNew EconomyInternet Domains: C2CInternet Domains: C2C(Consumer to Consumer)(Consumer to Consumer)Internet Domains: C2BInternet Domains: C2Bwww.bookfiesta4u.com1-45Internet Domains: C2BInternet Domains: C2B(Customer to Business)(Customer to Business)Pure Click vs. Brick andPure Click vs. Brick andClick CompaniesClick CompaniesPurePure--click companiesclick companies
  46. 46. CarPoint, leading metamediary for car buying, is a pureCarPoint, leading metamediary for car buying, is a pureclick company: It exists only on the Web.click company: It exists only on the Web.www.bookfiesta4u.com1-46
  47. 47. Adapting Marketing to theNew EconomyBrick and Click companiesBrick and Click companieswww.bookfiesta4u.com1-47
  48. 48. Which is more important forWhich is more important fordeveloping an edeveloping an e--presence: the agilitypresence: the agilityof a pure click company, or the wellof a pure click company, or the wellwww.bookfiesta4u.com1-48of a pure click company, or the wellof a pure click company, or the welldefined and readily identifiabledefined and readily identifiableresources of a traditionalresources of a traditionalbrick and mortarbrick and mortarcompany?company?
  49. 49. Adapting Marketing to theNew EconomyHow Marketing Practices are Changing:How Marketing Practices are Changing:Setting Up Web SitesSetting Up Web SitesDesigning an Attractive WebsiteDesigning an Attractive WebsiteSeven elements of effective sitesSeven elements of effective siteswww.bookfiesta4u.com1-49Seven elements of effective sitesSeven elements of effective sitesContextContextContentContentCommunityCommunityCustomizationCustomizationCommunicationCommunicationConnectionConnectionCommerceCommerce
  50. 50. Would you be willing to give up one orWould you be willing to give up one ormore of the seven elements of an effectivemore of the seven elements of an effectiveweb site in order to speed the deploymentweb site in order to speed the deploymentwww.bookfiesta4u.com1-50of a new company eof a new company e--commerce site?commerce site?What would the expected tradeWhat would the expected trade--offs beoffs bebetween an effective sitebetween an effective siteand an early weband an early webpresence?presence?
  51. 51. Attracting and Keeping VisitorsAttracting and Keeping VisitorsHow can we get more prospects to know and visit our site?How can we get more prospects to know and visit our site?How can we use marketing to spread wordHow can we use marketing to spread word--ofof--mouth?mouth?How can we convert visitors into repeaters?How can we convert visitors into repeaters?How do we make our site more experiential and real?How do we make our site more experiential and real?How can we build a strong relationship with our customers?How can we build a strong relationship with our customers?How can we build a customer community?How can we build a customer community?How can we capture and exploit customer data for upHow can we capture and exploit customer data for up--sellingsellingTable 2Table 2--2:2:SettingSettingUp aUp aDotDot--comcomPresencePresencewww.bookfiesta4u.com1-51How can we capture and exploit customer data for upHow can we capture and exploit customer data for up--sellingsellingand crossand cross--selling?selling?How much should we spend on building and marketing ourHow much should we spend on building and marketing oursite?site?Advertising on the InternetAdvertising on the InternetWhat are the various ways that we can advertise on theWhat are the various ways that we can advertise on theInternet?Internet?How do we choose the right sites for placing our ads orHow do we choose the right sites for placing our ads orsponsorship?sponsorship?See text for complete table
  52. 52. Adapting Marketing to theNew EconomyContext factorsContext factorsContent factorsContent factorswww.bookfiesta4u.com1-52Content factorsContent factorsGetting feedbackGetting feedback
  53. 53. Adapting Marketing to theNew EconomyPlacing Ads and Promotions OnlinePlacing Ads and Promotions OnlineBanner adsBanner adsSponsorshipsSponsorshipsMicrositeMicrositewww.bookfiesta4u.com1-53MicrositeMicrositeInterstitialsInterstitialsBrowser adsBrowser adsAlliances and affiliateAlliances and affiliateprogramsprogramsPushPush
  54. 54. Infogate.com “pushes” targeted content and ads to thoseInfogate.com “pushes” targeted content and ads to thosewho are interested in a product or product categorywho are interested in a product or product categorywww.bookfiesta4u.com1-54
  55. 55. Adapting Marketing to theNew EconomyBuilding a Revenue and Profit ModelBuilding a Revenue and Profit ModelAdvertising incomeAdvertising incomeSponsorship incomeSponsorship incomeMembership andMembership andsubscriptionssubscriptionswww.bookfiesta4u.com1-55Membership andMembership andsubscriptionssubscriptionsProfile incomeProfile incomeProduct and serviceProduct and servicesalessalesTransaction commissionTransaction commissionand feesand feesMarket research/informationMarket research/informationReferral incomeReferral income
  56. 56. Adapting Marketing to theNew EconomyHow Marketing Practices are Changing:How Marketing Practices are Changing:Customer Relationship MarketingCustomer Relationship MarketingReduce rate of customer defectionReduce rate of customer defectionIncrease longevity ofIncrease longevity ofwww.bookfiesta4u.com1-56Increase longevity ofIncrease longevity ofcustomer relationshipcustomer relationshipEnhance growth potentialEnhance growth potentialthrough crossthrough cross--selling and upselling and up--sellingsellingMake low profit customers more profitableMake low profit customers more profitableor terminate themor terminate them
  57. 57. Adapting Marketing to theNew EconomyFocus disproportionate effortFocus disproportionate efforton high value customerson high value customerswww.bookfiesta4u.com1-57
  58. 58. Table 2-3: Mass Marketing vs.One-to-One MarketingMass MarketingMass Marketing OneOne--toto--One MarketingOne MarketingAverage customerAverage customerCustomer anonymityCustomer anonymityStandard productStandard productMass productionMass productionMass distributionMass distributionIndividual customerIndividual customerCustomer profileCustomer profileCustomized marketCustomized marketofferingofferingCustomized productionCustomized productionwww.bookfiesta4u.com1-58Mass distributionMass distributionMass advertisingMass advertisingMass promotionMass promotionOneOne--way messageway messageEconomies of scaleEconomies of scaleShare of marketShare of marketAll customersAll customersCustomer attractionCustomer attractionIndividualized distributionIndividualized distributionIndividualized messageIndividualized messageIndividualized incentivesIndividualized incentivesTwoTwo--way messagesway messagesEconomies of scopeEconomies of scopeShare of customerShare of customerProfitable customersProfitable customersCustomer retentionCustomer retention
  59. 59. Adapting Marketing to theNew EconomyFour steps for OneFour steps for One--toto--One MarketingOne MarketingDon’t go after everyone,Don’t go after everyone,identify prospects.identify prospects.Define customers by their needsDefine customers by their needswww.bookfiesta4u.com1-59Define customers by their needsDefine customers by their needsand their value to the company.and their value to the company.Individual interaction with customersIndividual interaction with customersbuilds stronger relationships.builds stronger relationships.Customize messages, services, andCustomize messages, services, andproducts for each customer.products for each customer.
  60. 60. Adapting Marketing to theNew EconomyCustomer Databases andCustomer Databases andDatabase MarketingDatabase MarketingCustomer mailing listCustomer mailing listwww.bookfiesta4u.com1-60Customer mailing listCustomer mailing listBusiness databaseBusiness database
  61. 61. Data Warehouses and Data MiningData Warehouses and Data MiningUsing the databaseUsing the databaseTo identify prospectsTo identify prospectsTo determine target marketTo determine target marketAdapting Marketing to theNew Economywww.bookfiesta4u.com1-61To determine target marketTo determine target marketTo deepen customer loyaltyTo deepen customer loyaltyTo reactivate customerTo reactivate customerpurchasespurchasesTo avoid serious customerTo avoid serious customermistakesmistakesThe Downside of DatabaseThe Downside of DatabaseMarketingMarketing
  62. 62. Chapter 3Chapter 3Building CustomerBuilding CustomerSatisfaction, Value, andSatisfaction, Value, andRetentionRetentionbybywww.bookfiesta4u.com1-62bybyPowerPoint byPowerPoint byMilton M. PressleyMilton M. PressleyUniversity of New OrleansUniversity of New Orleans
  63. 63. It is no longerIt is no longerenough to satisfyenough to satisfycustomers. You mustcustomers. You mustKotler onMarketingwww.bookfiesta4u.com1-63customers. You mustcustomers. You mustdelight them.delight them.
  64. 64. Chapter ObjectivesIn this chapter, we will address theIn this chapter, we will address thefollowing questions:following questions:What are customer value and satisfaction,What are customer value and satisfaction,and how can companies deliver them?and how can companies deliver them?What makes a highWhat makes a high--performance business?performance business?www.bookfiesta4u.com1-64What makes a highWhat makes a high--performance business?performance business?How can companies both attractHow can companies both attractand retain customers?and retain customers?How can companies improve both customerHow can companies improve both customerand company profitability?and company profitability?How can companies deliver total quality?How can companies deliver total quality?
  65. 65. Defining Customer Valueand SatisfactionCustomer Perceived Value (CPV)Customer Perceived Value (CPV)Total custo