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Chapter One
Marketing: Creating and Capturing
Customer Value
•
•
•
•
•
•
•
What Is Marketing?
Understand the Marketplace and Customer Needs
Designing a Customer‐Driven Marketing Strategy
Preparing an Integrated Marketing Plan and Program
Building Customer Relationships
Capturing Value from Customers
The Changing Marketing Landscape
Creating and Capturing Customer
Value
Topic Outline
What Is Marketing?
Marketing is a process by which
companies create value for customers and
build strong customer relationships to
capture value
from customers in
return
What Is Marketing?
The Marketing Process
•
•
•
•
•
Customer needs, wants, and demands
Market offerings
Value and satisfaction
Exchanges and relationships
Markets
Understanding the Marketplace
and Customer Needs
Core Concepts
Understanding the Marketplace
and Customer Needs
Customer Needs, Wants, and Demands
Understanding the Marketplace
and Customer Needs
• Market offerings are some
combination of products,
services, information, or
experiences offered to a
market to satisfy a need or
want
• Marketing myopia is
focusing only on existing
wants and losing sight of
underlying consumer
needs
Understanding the Marketplace
and Customer Needs
Customer Value and Satisfaction
Expectations
Understanding the Marketplace
and Customer Needs
Exchange is the act of obtaining a desired
object from someone by offering
something in return
Understanding the Marketplace
and Customer Needs
Markets are the set of actual and
potential buyers of a product
Designing a Customer-Driven
Marketing Strategy
Marketing management is the art and
science of choosing target markets and
building profitable relationships with them
– What customers will we serve?
– How can we best serve these customers?
Designing a Customer-Driven
Marketing Strategy
Selecting Customers to Serve
Market segmentation refers to dividing the
markets into segments of customers
Target marketing refers to which segments
to go after
Designing a Customer-Driven
Marketing Strategy
Selecting Customers to Serve
Demarketing is marketing to reduce demand
temporarily or permanently; the aim is not
to destroy demand but to reduce or shift it
Designing a Customer-Driven
Marketing Strategy
Choosing a Value Proposition
The value proposition is the set of
benefits or values a company promises to
deliver to customers to satisfy their needs
Designing a Customer-Driven
Marketing Strategy
Marketing Management Orientations
Designing a Customer-Driven
Marketing Strategy
Marketing Management Orientations
Production concept is the idea that
consumers will favor products that are
available or highly affordable
Designing a Customer-Driven
Marketing Strategy
Marketing Management Orientations
Product concept is the idea that consumers
will favor products that offer the most
quality, performance, and features.
Organization should therefore devote its
energy to making continuous product
improvements.
Designing a Customer-Driven
Marketing Strategy
Marketing Management Orientations
Selling concept is the idea that consumers
will not buy enough of the firm’s products
unless it undertakes a large scale selling
and promotion effort
Designing a Customer-Driven
Marketing Strategy
Selling Concept
Designing a Customer-Driven
Marketing Strategy
Marketing Management Orientations
Marketing concept is the
idea that achieving
organizational goals
depends on knowing the
needs and wants of the
target markets and
delivering the desired
satisfactions better than
Designing a Customer-Driven
Marketing Strategy
Marketing Concept
Designing a Customer-Driven
Marketing Strategy
Marketing Management Orientations
Societal marketing
concept is the idea that a
company should make good
marketing decisions by
considering consumers’ wants,
the company’s requirements,
consumers’ long-term interests,
and society’s long-run interests
Designing a Customer-Driven
Marketing Strategy
Preparing an Integrated Marketing
Plan and Program
The marketing mix is the set of tools (four Ps)
the firm uses to implement its marketing
strategy. It includes product, price,
promotion, and place.
Integrated marketing program is a
comprehensive plan that communicates
and delivers the intended value to chosen
customers.
Building Customer Relationships
Customer Relationship Management (CRM)
The overall process of
building and maintaining
profitable customer
relationships by delivering
superior customer value
and satisfaction
Building Customer Relationships
Relationship Building Blocks: Customer Value
and Satisfaction
Building Customer Relationships
Customer Relationship Levels and Tools
Building Customer Relationships
The Changing Nature of Customer
Relationships
• Relating with more carefully selected
customers uses selective relationship
management to target fewer, more profitable
customers
• Relating more deeply and interactively by
incorporating more interactive two way
relationships through blogs, Websites, online
communities and social networks
Building Customer Relationships
Partner relationship management involves
working closely with partners in other
company departments and outside the
company to jointly bring greater value to
customers
Building Customer Relationships
Partner Relationship Management
• Partners inside the company is every
function area interacting with customers
– Electronically
– Cross‐functional teams
• Partners outside the company is how
marketers connect with their suppliers,
channel partners, and competitors by
developing partnerships
Building Customer Relationships
Partner Relationship Management
• Supply chain is a channel that stretches
from raw materials to components to final
products to final buyers
• Supply management
• Strategic partners
• Strategic alliances
Capturing Value from Customers
Growing Share of Customer
Share of customer is the portion of the
customer’s purchasing that a company gets
in its product categories
Capturing Value from
Customers
Customer equity is
the total combined
customer lifetime
values of all of the
company’s
customers
Capturing Value from Customers
Building Customer Equity
• Building the right relationships with the
right customers involves treating
customers as assets that need to be
managed and maximized
• Different types of customers require
different relationship management
strategies
– Build the right relationship with the right
customers
The Changing Marketing
Landscape
Major Developments
So, What Is Marketing?
Pulling It All Together

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Chapter # 1 kotler

  • 1. 1
  • 2. Chapter One Marketing: Creating and Capturing Customer Value
  • 3. • • • • • • • What Is Marketing? Understand the Marketplace and Customer Needs Designing a Customer‐Driven Marketing Strategy Preparing an Integrated Marketing Plan and Program Building Customer Relationships Capturing Value from Customers The Changing Marketing Landscape Creating and Capturing Customer Value Topic Outline
  • 4. What Is Marketing? Marketing is a process by which companies create value for customers and build strong customer relationships to capture value from customers in return
  • 5. What Is Marketing? The Marketing Process
  • 6. • • • • • Customer needs, wants, and demands Market offerings Value and satisfaction Exchanges and relationships Markets Understanding the Marketplace and Customer Needs Core Concepts
  • 7. Understanding the Marketplace and Customer Needs Customer Needs, Wants, and Demands
  • 8. Understanding the Marketplace and Customer Needs • Market offerings are some combination of products, services, information, or experiences offered to a market to satisfy a need or want • Marketing myopia is focusing only on existing wants and losing sight of underlying consumer needs
  • 9. Understanding the Marketplace and Customer Needs Customer Value and Satisfaction Expectations
  • 10. Understanding the Marketplace and Customer Needs Exchange is the act of obtaining a desired object from someone by offering something in return
  • 11. Understanding the Marketplace and Customer Needs Markets are the set of actual and potential buyers of a product
  • 12. Designing a Customer-Driven Marketing Strategy Marketing management is the art and science of choosing target markets and building profitable relationships with them – What customers will we serve? – How can we best serve these customers?
  • 13. Designing a Customer-Driven Marketing Strategy Selecting Customers to Serve Market segmentation refers to dividing the markets into segments of customers Target marketing refers to which segments to go after
  • 14. Designing a Customer-Driven Marketing Strategy Selecting Customers to Serve Demarketing is marketing to reduce demand temporarily or permanently; the aim is not to destroy demand but to reduce or shift it
  • 15. Designing a Customer-Driven Marketing Strategy Choosing a Value Proposition The value proposition is the set of benefits or values a company promises to deliver to customers to satisfy their needs
  • 16. Designing a Customer-Driven Marketing Strategy Marketing Management Orientations
  • 17. Designing a Customer-Driven Marketing Strategy Marketing Management Orientations Production concept is the idea that consumers will favor products that are available or highly affordable
  • 18. Designing a Customer-Driven Marketing Strategy Marketing Management Orientations Product concept is the idea that consumers will favor products that offer the most quality, performance, and features. Organization should therefore devote its energy to making continuous product improvements.
  • 19. Designing a Customer-Driven Marketing Strategy Marketing Management Orientations Selling concept is the idea that consumers will not buy enough of the firm’s products unless it undertakes a large scale selling and promotion effort
  • 20. Designing a Customer-Driven Marketing Strategy Selling Concept
  • 21. Designing a Customer-Driven Marketing Strategy Marketing Management Orientations Marketing concept is the idea that achieving organizational goals depends on knowing the needs and wants of the target markets and delivering the desired satisfactions better than
  • 22. Designing a Customer-Driven Marketing Strategy Marketing Concept
  • 23. Designing a Customer-Driven Marketing Strategy Marketing Management Orientations Societal marketing concept is the idea that a company should make good marketing decisions by considering consumers’ wants, the company’s requirements, consumers’ long-term interests, and society’s long-run interests
  • 25. Preparing an Integrated Marketing Plan and Program The marketing mix is the set of tools (four Ps) the firm uses to implement its marketing strategy. It includes product, price, promotion, and place. Integrated marketing program is a comprehensive plan that communicates and delivers the intended value to chosen customers.
  • 26. Building Customer Relationships Customer Relationship Management (CRM) The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction
  • 27. Building Customer Relationships Relationship Building Blocks: Customer Value and Satisfaction
  • 28. Building Customer Relationships Customer Relationship Levels and Tools
  • 29. Building Customer Relationships The Changing Nature of Customer Relationships • Relating with more carefully selected customers uses selective relationship management to target fewer, more profitable customers • Relating more deeply and interactively by incorporating more interactive two way relationships through blogs, Websites, online communities and social networks
  • 30. Building Customer Relationships Partner relationship management involves working closely with partners in other company departments and outside the company to jointly bring greater value to customers
  • 31. Building Customer Relationships Partner Relationship Management • Partners inside the company is every function area interacting with customers – Electronically – Cross‐functional teams • Partners outside the company is how marketers connect with their suppliers, channel partners, and competitors by developing partnerships
  • 32. Building Customer Relationships Partner Relationship Management • Supply chain is a channel that stretches from raw materials to components to final products to final buyers • Supply management • Strategic partners • Strategic alliances
  • 33. Capturing Value from Customers Growing Share of Customer Share of customer is the portion of the customer’s purchasing that a company gets in its product categories
  • 34. Capturing Value from Customers Customer equity is the total combined customer lifetime values of all of the company’s customers
  • 35. Capturing Value from Customers Building Customer Equity • Building the right relationships with the right customers involves treating customers as assets that need to be managed and maximized • Different types of customers require different relationship management strategies – Build the right relationship with the right customers
  • 37. So, What Is Marketing? Pulling It All Together