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322 marketing concept



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  • marketing is activity which links producer, distributed, wholesalers,retailers & finally reaches up to customer. This chain & interdependence includes customers satisfaction & feedback in order to stay in the market to be profitable in business cycle.And research is required to stay for long term, in the buyers market.
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  • The combination of tangible products, particular people, and certain activities in a particular place creates an experience (e.g., Disneyland) We are moving toward being a less manufacturing-based society and a more service-oriented society.


  • 1. The Marketing Concept Evolving Perspectives
  • 2. What Is Marketing?
    • Simple Definition: Marketing is managing profitable customer relationships.
    • Goals:
    • Attract new customers by promising superior value.
    • Keep and grow current customers by delivering satisfaction.
  • 3. Marketing Management Philosophies Production Concept Product Concept Selling Concept Marketing Concept Societal Marketing Concept Customer-Driven
  • 4. The Production Concept
  • 5. The Product Concept
  • 6. Marketing and Sales Concepts Contrasted
  • 7. Societal Marketing Concept
  • 8. This Is a Need
    • Needs - state of felt deprivation including physical, social, and individual needs.
  • 9. Maslow’s Hierarchy of Needs
  • 10. This Is a Want
    • Wants - form that a human need takes, as shaped by culture and individual personality.
  • 11. Need / Want Fulfillment
    • Needs and Wants Fulfilled through a Marketing Offer :
      • Some combination of products, services, information, or experiences offered to a market to satisfy a need or want.
  • 12. What Satisfies Consumers’ Needs and Wants? Products Anything that can be Offered to a Market to Satisfy a Need or Want Persons Places Organizations Ideas Information Services Activity or Benefit Offered for Sale That is Essentially Intangible and Does Not Result in the Ownership of Anything
  • 13. Marketing Myopia
    • Sellers pay more attention to the specific products they offer than to the benefits and experiences produced by the products.
    • They focus on the “wants” and lose sight of the “needs.”
  • 14. This Is Demand “ Demand” Wants Buying Power
  • 15. What is a Market?
    • The set of actual and potential buyers of a product.
    • These people share a need or want that can be satisfied through exchange relationships.
  • 16. Segmentation and Target Marketing #1 #2 Market Segmentation: Divide the market into segments of customers Target Marketing: Select the segment to cultivate
  • 17. Customer Satisfaction
    • Dependent on the product’s perceived performance relative to a buyer’s expectations.
  • 18. Value and Satisfaction If performance is lower than expectations, satisfaction is low. If performance is higher than expectations, satisfaction is high. Expectation Performance 8 10 Expectation Performance 10 8
  • 19. Customer Perceived Value
    • Customer’s evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers.
  • 20. Customer Relationship Levels Basic Relationship Full Partnership Continuum
  • 21. Loyalty and Retention Focus on Profitable Customers Financial Benefits Social Benefits Structural Ties
  • 22. Customer Relationship Management
    • The process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction.
  • 23.
    • Customer Lifetime Value
      • The entire stream of purchases that the customer would make over a lifetime of patronage.
    • Share of Customer
      • The share a company gets of the customers purchasing in their product categories.
    Customer Loyalty & Retention