MARKETING: CREATING AND CAPTURING
PRESENTED TO . . .
SYED ABUL KALAM AZAD
Professor, Department of Marketing
Faculty of Business Studies
University of Dhaka
GROUP LINE UP: GROUP 1
NAME ID NO. BATCH
KAZI RASEL KABIR 41325010 25TH
MD. MAIDUL ISLAM 41325064 25TH
JAMSHED ALAM 41426088 26TH
MD. RAFIKUL ISLAM 41427010 27TH
MOLOY KANTI RAHA 41427088 27TH
Principles of Marketing (MKT 502)- Section A
MBA (Evening) Program, Department of Marketing
Faculty of Business Studies, University of Dhaka
TOPICS TO BE COVERED
Marketing & the
Share of Customer
Challenges in the
Goals of Marketing
TOPICS COVERED BY MD. KAZI RASEL KABIR
Marketing & the Marketing Process
Customer Needs, Wants and Demands
Customer Value, Satisfaction & Quality
A social & managerial Process
Creating & retaining value for the customers
Developing & managing relationship with customers
• long-term relationship
• profitable relationship
Capturing Value from customers in return
Superior Value Delivery
Marketing Mix- 4 P’s or 4 C’s
• Product (Customers’ Solution), Price (Customers’ Cost), Place (Customers’
Convenience), Promotion (Communication to Customers)
THE MARKETING PROCESS
Creating Value for Customers and build customer relationships
We will we
How will we
CRM, Are we
CUSTOMER NEEDS, WANTS AND DEMANDS
• A state of felt deprivation of some basic satisfaction.
• Basic physical needs for food, clothing, warmth, and safety
• Social needs for belonging and affection;
• Individual needs for knowledge and self-expression.
• Our need: Knowledge, Higher Education or Certificate ???
• Desires for specific satisfies of these deeper needs.
• If you are thirsty, you can satisfy this need by drinking water, tea etc.
• Our want: MBA Degree.
• Human wants that are backed by buying power and willingness to buy.
• Do you have money and willingness to buy a bottle of mineral water or a cup of tea?
• Our Demand: MBA (Evening) Degree from University of Dhaka.
Some combination of products, services, information, or
experience offered to a market to satisfy a need or want.
• Physical Products – Food items, Text Books, Clothing & Fashion Wares etc.
• Services- Educational Services (EMBA Program), Medical Services, Financial
• Idea- Anti Smoking Campaign, Anti-Cancer Campaign, Forest Reservation
• Information- Call Centers, Research Journals, Telephone Directory, Yellow
• Experiences – Professional Services, Consultancy Services, Architectural
Design Services etc.
• Events- Concerts, Seminars, River Cruise, etc.
• Places- Community Centers, Picnic spots, Town Halls etc.
CUSTOMER VALUE & SATISFACTION
• Two aspects- Desired value and Perceived value.
• Desired value refers to what customers desire in a product or service. EMBA
Program of DU: Quality Education, Experienced Teachers, Affordable Cost etc.
• Perceived value is the benefit that a customer believes he or she received from a
product after it was purchased. EMBA Program of D: ????
• Difference between a product’s perceived performance in delivering value relative
to a buyer’s expectations
Level of Customer Satisfaction
• Satisfied Customer : Customers Expectations = Marketers Performances
• Dissatisfied Customer: Customers Expectations >Marketers Performances
• Delighted Customer: Customers Expectations < Marketers Performances
• Are EMBA students of DU satisfied/ dissatisfied/ delighted ???
TOPICS COVERED BY MD. MAIDUL ISLAM
Exchange, Transaction & Relationships
Markets & Marketing Myopia
Modern Marketing System
EXCHANGE, TRANSACTION & RELATIONSHIPS
• The act of obtaining a desired object from someone by offering something in return.
• 3 Conditions: 1. Two Parties, 2. Both parties own something which has got value to each
other, 3. Both parties are agreeable two each other.
• Two parties: Authority of University of Dhaka, Students
• Our desired object: MBA Degree from University of Dhaka.
• You pay a substantial amount of earnings of our parents as tuition fees.
• A trade between two parties that involves at least two things of value, agreed-upon
conditions, a time of agreement, and a place of agreement.
• Unit of measurement of exchange.
• The way in which two or more people or things are connected, or the state of being
• Relationship marketing is the process of creating, maintaining, and enhancing strong,
value-laden relationships with customers and other stakeholders
MARKETS & MARKETING MYOPIA
• Customers are the market. The set of all actual & potential buyers of a product or service.
• Actual Buyer: Someone who is committed to buying a product
• Potential Buyer: Some who is interested in buying, but may not.
• We, students, are the actual buyers.
Different types of Market
• Consumer Markets- Products and services bought by individuals for their own or family use.
• Industrial Market- It involves the sale of goods between businesses
• A short-sighted and inward looking approach to marketing that focuses on the needs of the
company instead of defining the company and its products in terms of
the customers' needs and wants.
• It results in the failure to see and adjust to the rapid changes in their markets.
• Nokia Smart Phones
MODERN MARKETING SYSTEM
Major Environmental Forces
MARKETING MANAGEMENT, DEMAND MANAGEMENT
& PROFITABLE CUSTOMER RELATIONSHIP
• The art & science of choosing target markets and building profitable
relationships with them.
• It focuses on the practical application of marketing techniques and the
management of a firm's marketing resources and activities.
• Recognizing all demands for goods and services to support the market place.
• De-marketing : Marketing to reduce demand temporarily or permanently, the
aim is not to destroy demand but only to reduce or shift it
Profitable Customer Relationship
• Key factor to be successful in the marketplace.
TOPICS COVERED BY JAMSHED ALAM
The Production Concept
The Product Concept
The Selling Concept
The Marketing Concept
The Societal Marketing Concept
THE PRODUCTION CONCEPT
The idea that buyer will favor products that are widely available and
Large Scale production for reducing the cost of production & extensive
Economies of scale benefit
Competitively Lower price as production cost is reduced
It works when demand exceeds supply
THE PRODUCT CONCEPT
The idea that buyers will favour products that offer the most in quality, performance, and
Emphasis On Product Quality
No Concern With Customers' Need
Continuous Quality Improvement
Price doesn’t matter at all
A good quality product and high price
Do the customers not take care of the price of the products, its availability, etc . ???
THE SELLING CONCEPT
The idea that the market will not buy enough of the firm's products
unless it undertakes a large-scale selling effort
Customers can be attracted
Selling what you have
With repeated efforts, one can sell-anything.
It offers only a short-term advantage and is not for long-term gains.
THE MARKETING CONCEPT
The marketing philosophy that holds that achieving organizational goals depends on
knowing the needs and wants of target a markets and delivering the desired satisfactions
better than competitors do.
Marketers do not sell what they can make but they make what they can sell.
Know what customers want.
Achieving consumer satisfaction is the goal.
Do marketing pay attention to social welfare ???
THE SOCIETAL MARKETING CONCEPT
A principle of enlightened marketing that holds that marketing strategy should deliver
value to the organization's customers in a way that maintains or improves the well-being
Social Responsibility Orientation
Customer Need Satisfaction
Integrated Marketing Efforts
Profit Through Social Well-being And Consumers' Welfare
TOPICS COVERED BY MD. RAFIKUL ISLAM
Customer Perceived Value
Customer Equity & Share of Customer
Customer Lifetime Value
Green marketing is the marketing of products that are presumed to be
Green marketing incorporates a broad range of activities, including product
modification, changes to the production process, packaging changes, as well as
Green products are defined by following measures:
•Products those are originally grown, recyclable, reusable and biodegradable,
•Products with natural ingredients,
•Products containing recycled contents, non-toxic chemical,
•Products contents under approved chemical,
•Products that do not harm or pollute the environment,
•Products that will not be tested on animals,
•Products that have eco-friendly packaging i.e. reusable,refillable containers etc.
CUSTOMER PERCEIVED VALUE
The customer's evaluation of the difference
between all the benefits and all the costs of a
marketing offer relative to those of competing
CUSTOMER EQUITY , SHARE OF CUSTOMER
& CUSTOMER LIFETIME VALUE
• The total combined customer lifetime values of all of a
Share of Customer
• The portion of the customer's purchasing in its product
categories that a company gets.
Customer Lifetime Value
• The value of the entire stream of purchases that the
customer would make over a lifetime of patronage.
TOPICS COVERED BY MOLOY KANTI RAHA
Customer Relationship Groups
Marketing Challenges in the
New Connected Millennium
Goals of Marketing
CUSTOMER RELATIONSHIP GROUPS
Butterflies - Profitable but not loyal
True friends - Profitable and loyal
Barnacles - Highly loyal but not very profitable
Strangers - Low profitability and little loyalty
MARKETING CHALLENGES IN THE NEW
Reaching potential customers through internet to increase the base of customers.
Sharing necessary information through social communication media
Removing unfavourable impression about the product or company
Promoting new product and services through social communication media.
Promoting favourable company events like its CSR activities to public through social
Creating public awareness in social issues,
Engaging public with day to day company
Organizing for public polls on debatable company issues to learn about their view.
GOALS OF MARKETING
Delivering Superior Value to customers
Maintaining a fine balance between price and quality
Delighting Customers, only satisfying is not enough
Building Strong relationship with customers
Giving customers a reason to buy the product