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1. marketing in a changing world creating customer value and satisfaction
1. Chapter 1 (Plus Section of Chapter 2) Marketing in a Changing World: Creating Customer Value and Satisfaction
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3. Marketing Strategy Marketing Mix “ The 4 Ps,” Tactical Tools (“The 4 Cs”) (Fig. 2.6, pp. 67-68) Target Customers Intended Positioning Product (Customer Solution) Goods-and-service combination that a company offers a target market Price (Customer Cost) Amount of money that consumers have to pay to obtain the product Activities that persuade target customers to buy the product Promotion (Communication) Company activities that make the product available Place (Convenience) Advertising Personal Selling Sales Promotion Public Relations
4. Core Marketing Concepts (Fig. 1.1, pp. 6-13) Needs, wants, and demands Products and services Value, satisfaction, and quality Exchange, transactions, and relationships Markets
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8. How Do Consumers Obtain Products and Services? (p. 11) Transactions Exchanges The core concept of marketing Relationships Building a marketing network with supporting stakeholders (p. 14) Relationship Marketing & Customer Lifetime Value
9. Who Purchases Products and Services? (pp. 12-13) Market Actual and potential buyers who share a particular need or want that can be satisfied through an exchange or relationship. Needs or wants Resources to exchange Willingness to exchange Actual buyers Potential buyers
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11. Marketing Management (p. 14) Marketing Management Implementing programs to create exchanges with target buyers to achieve organizational goals Demand Management Finding and increasing demand, also changing or reducing demand such as in “ Demarketing” Profitable Customer Relationships Attracting new customers and retaining and building relationships with current customers
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17. Marketing and Sales Concepts Contrasted (Fig. 1.4, pp. 18-20) The Marketing Concept (“outside-in”) Factory Existing Products Selling and Promoting Profits through Volume The Selling Concept (“inside-out”) Starting Point Focus Means Ends Market Customer Needs Integrated Marketing Profits through Satisfaction
18. Societal Marketing Concept Late 20 th Century – Still emerging Recognizes potential conflict (pp. 20-22) Societal Marketing Concept Company (Profits) Consumers (Short-term wants) Society (Societal & customer well-being) Maintain & improve long-term well-being Social responsibility Ethics Environment Do good Stop doing bad
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