Week 1 Marketing: The Art And Science Of Satisfying Customers

MARKETING : THE ART & SCIENCE OF SATISFYING CUSTOMERS Week 1 Prepared by Anna Riana Putriya | www.slideshare.net/natriumz | anna_riana@yahoo.com

What is marketing ? Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably Chartered Institute of Marketing (UK) Marketing Defined: “Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging value with others” www.slideshare.com/natriumz

Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value. www.slideshare.com/natriumz

Marketing VS Sales SELLING IS ONLY THE TIP OF THE ICEBERG “There will always be need for some selling. But the aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy. All that should be needed is to make the product or service available.” -Peter Drucker- www.slideshare.com/natriumz

Marketing is about managing profitable customer relationships • Attracting new customers • Retaining and growing current customers www.slideshare.com/natriumz

Designing the “right” product www.slideshare.com/natriumz

Only the best is good enough for Lexus customers www.slideshare.com/natriumz

Core Customer and Marketplace Concept Products, services, and experiences Needs, wants, and demands Markets Core Marketing Concepts Value, satisfaction, and quality Exchange, transactions, and relationships www.slideshare.com/natriumz

Value Perceived Value • The customer’s evaluation of the difference between CUSTOMER VALUE benefits and costs. • Customers often do not judge values and costs accurately or objectively. The relationship between benefits and the sacrifice necessary to obtain those benefits. www.slideshare.com/natriumz

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Satisfaction • The feeling that a product met or exceeded the CUSTOMER customer’s expectations. SATISFACTION • Product’s perceived performance relative to customer’s expectations. www.slideshare.com/natriumz

So marketing is ... The process of building profitable customer relationships by creating value for customers and capturing value in return www.slideshare.com/natriumz

Reasons for studying Marketing Why Study Marketing ? Important Important Good to to Career Society Business Opportunities + Marketing affects you every day! www.slideshare.com/natriumz

Marketing Mix MARKETING MIX Place Product Customer Distribution Solution Price Promotion Customer Cost Communication www.slideshare.com/natriumz

A simple five-step model of the marketing process Create value for customers and build customer relationship Understand the marketplace Construct a marketing Design a customer-driven and customer needs program that delivers marketing strategy and wants superior value Capture value from customers to Build profitable relationship create profits and and create customer delight customer quality Capture value from customers in return www.slideshare.com/natriumz

Elements of A Modern Marketing System Company (marketer) Marketing Suppliers End Users intermediaries Company (marketer) www.slideshare.com/natriumz

Marketing Management Orientations 1. Production Concept 2. Product Concept 5. Societal Key Concept Marketing Concepts 4. Marketing 3. Selling Concept Concept www.slideshare.com/natriumz

• Consumers prefer products that are widely available and inexpensive Production Concept • What can we make efficiently? • Consumers favor products that offer the most quality, performance, or Product Concept innovative features • What can we make or do best? • Consumers will buy products only if the company aggressively Selling Concept promotes/sells these products • How can we sell more aggressively? • Focuses on needs/ wants of target markets & delivering value better Marketing Concept than competitors • What do customers want and need? • Focuses on needs/ wants of target markets & delivering value better Marketing Concept than competitors • What do customers want and need, and how can we benefit society? www.slideshare.com/natriumz

The Selling and Marketing Concepts Contrasts www.slideshare.com/natriumz

Marketing V.S. Production Concept www.slideshare.com/natriumz

Marketing Concept www.slideshare.com/natriumz

Societal Marketing SOCIETAL MARKETING An organization exists not only to satisfy customer wants ORIENTATION but also to preserve or enhance individuals’ and society’s long-term best interests. • Less toxic products • More durable products • Products with reusable or recyclable materials www.slideshare.com/natriumz

Societal Marketing Concept Society (Human Welfare) Societal Marketing Concept Consumers Company (Satisfaction) (Profits) www.slideshare.com/natriumz

Example : www.slideshare.com/natriumz

Marketing Challenges Digital Age Non-profit Marketing EMERGING CHALLENGES Ethics and Globalization Social Responsibility Marketing Relationship www.slideshare.com/natriumz

Criticisms of Marketing www.slideshare.com/natriumz

Chocolat movie trailler www.slideshare.com/natriumz

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Week 1 Marketing: The Art And Science Of Satisfying Customers

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