Kotler 01

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Marketing: Managing Profitable Customer Relationships

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  • Kotler 01

    1. 1. Marketing: Managing Profitable Customer Relationships Chapter 1
    2. 2. ObjectivesBe able to define marketing anddiscuss its core concepts.Be able to define marketingmanagement and compare thefive marketing managementorientations. 1-2
    3. 3. ObjectivesUnderstand customerrelationship managementand strategies.Realize the major challengesfacing marketers in the new“connected” millennium. 1-3
    4. 4. What is Marketing?Marketing is managing profitablecustomer relationships Attracting new customers Retaining and growing current customers“Marketing” is NOT synonymous 1-4
    5. 5. What is Marketing?Kotler’s social definition: “Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.” 1-5
    6. 6. What Can Be Marketed? Goods Services Places Ideas Events Persons Properties Organizations What is being Informationmarketed in this ad? Experiences 1-6
    7. 7. Figure 1-1:Core Marketing Concepts 1-7
    8. 8. Figure 1-2: Elements of aModern Marketing System 1-8
    9. 9. Marketing ManagementMarketing management is “theart and science of choosingtarget markets and buildingprofitable relationships withthem.” Creating, delivering and communicating superior 1-9
    10. 10. Marketing ManagementCustomer Management: Marketers select customers that can be served well and profitably.Demand Management: Marketers must deal with different demand states, ranging from no demand to too much demand. 1 - 10
    11. 11. Marketing ManagementDemarketing:CommuterConnectionspromotes the useof mass transitand carpooling asan alternative todriving alone. Commuter Connections 1 - 11
    12. 12. Marketing ManagementProduction Management Product Concept Orientations Concept Selling Marketing Concept Concept Societal Marketing Concept 1 - 12
    13. 13. Figure 1-3:The Selling and Marketing Concepts Contrasted 1 - 13
    14. 14. Figure 1-4:Considerations Underlying the Societal Marketing Concept 1 - 14
    15. 15. Figure 1-5:Relationship Between Customer Satisfaction and Loyalty 1 - 15
    16. 16. CRMCustomer relationshipmanagement (also called CRM) “the overall process of buildingis and maintaining profitable defined as: customer relationships by delivering superior customer value and satisfaction.” 1 - 16
    17. 17. CRMIt costs 5 to 10 times MORE toattract a new customer than itdoes to keep a currentcustomer satisfied.Marketers must beconcerned with thelifetime value of the 1 - 17
    18. 18. BusinessNow SatMetrix Video Clip View what the experts have to say about customer loyalty and the bottomClick the picture above to play video line. 1 - 18
    19. 19. CRMKey Concepts Customer value and satisfaction  Perceptions are key Attracting,  Created by meeting/ exceeding expectations retaining and Loyalty and retention growing  Many benefits of loyalty customers  Increases as satisfaction Building levels increase  Delighting consumers relationships and should be the goal customer equity Growing customer share 1 - 19
    20. 20. CRMKey Concepts Attracting, Customer equity retaining and  Total combined growing customer lifetime customers values of all Building customers relationships and  Measures firm’s customer equity performance, but in a manner that looks to the future 1 - 20
    21. 21. CRMKey Concepts Customer relationship Attracting, levels and tools retaining and  Target market typically growing dictates type of customers relationship  Basic relationships Building  Full relationships relationships and  Customer loyalty and customer equity retention programs  Adding financial benefits  Adding social benefits 1 - 21
    22. 22. Marketing ChallengesTechnological advances, rapidglobalization, and continuingsocial and economic shifts arecausing marketplace changes.Major marketing developmentscan be grouped under the themeof Connecting. 1 - 22
    23. 23. Figure 1-6:Today’s Marketing Connections 1 - 23
    24. 24. Marketing ChallengesConnecting Advances in computers, telecommunications, video-conferencing, etc.Via technology are major forces  Databases allow forWith customers customization of products, messagesWith marketing and analysis of needspartners The Internet  Facilitates anytime,With the world anywhere connections  Facilitates CRM 1 - 24
    25. 25. Marketing ChallengesConnecting Selective relationshipVia technology management is keyWith customers  Customer profitability analysis separatesWith marketing winners from loserspartners Growing “share of customer”With the world  Cross-selling and up- selling are helpful Direct sales to buyers are growing 1 - 25
    26. 26. Marketing ChallengesConnecting Partner relationshipVia technology managementWith customers involves:With marketing  Connecting inside the companypartners  Connecting withWith the world outside partners  Supply chain management  Strategic alliances 1 - 26
    27. 27. Marketing ChallengesConnecting GlobalizationVia technology  CompetitionWith customers  New opportunitiesWith marketing Greater concern for environmental andpartners social responsibilityWith the world Increased marketing by nonprofit and public-sector entities  Social marketing 1 - 27

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