120intro

1,335 views

Published on

Published in: Business, Technology
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
1,335
On SlideShare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
14
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide
  • Page Chapter 1
  • Page Chapter 1
  • Page Chapter 1
  • Page Chapter 1
  • Page Chapter 1
  • Page Chapter 1
  • Page Chapter 1
  • Page Chapter 1
  • Page Chapter 1
  • Page Chapter 1
  • The combination of tangible products, particular people, and certain activities in a particular place creates an experience (e.g., Disneyland) We are moving toward being a less manufacturing-based society and a more service-oriented society.
  • Page Chapter 1
  • Page Chapter 1
  • Page Chapter 1
  • Page Chapter 1
  • Page Chapter 1
  • 1-9
  • Page Chapter 1
  • Page Chapter 1
  • Page Chapter 1
  • Page Chapter 1
  • Page Chapter 1
  • Page Chapter 1
  • Page Chapter 1
  • 120intro

    1. 1. Marketing:Marketing: Managing Profitable CustomerManaging Profitable Customer RelationshipsRelationships 1
    2. 2. Professor Takada 1-2 ROAD MAP: Previewing the Concepts • What is marketing?What is marketing? • Key steps in the marketing process.Key steps in the marketing process. • Consumers’ needs and wants.Consumers’ needs and wants. • Five core marketplace concepts.Five core marketplace concepts. • Key elements of a customer-driven marketing strategy.Key elements of a customer-driven marketing strategy. • Marketing management orientations that guideMarketing management orientations that guide marketing strategy.marketing strategy. • Customer relationship management and strategies.Customer relationship management and strategies. • Major trends and forces that are changing the marketingMajor trends and forces that are changing the marketing landscape in this new age of relationships.landscape in this new age of relationships.
    3. 3. Professor Takada 1-3 What is Marketing? Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.
    4. 4. Professor Takada 1-4 What is Marketing Management? 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.
    5. 5. Professor Takada 1-5 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
    6. 6. Professor Takada 1-6 Designing the “Right” Product
    7. 7. Professor Takada 1-7 Only the best is good enough for Lexus customers
    8. 8. Professor Takada 1-8 Key Customer Markets Consumer Markets Business Markets Global Markets Nonprofit/ Government Markets
    9. 9. Professor Takada 1-9 ROAD MAP: • What is marketing?What is marketing? • Key steps in the marketing process.Key steps in the marketing process. • Consumers’ needs, wants, and demands.Consumers’ needs, wants, and demands. • Five core marketplace concepts.Five core marketplace concepts. • Key elements of a customer-driven marketing strategy.Key elements of a customer-driven marketing strategy. • Marketing management orientations that guideMarketing management orientations that guide marketing strategy.marketing strategy. • Customer relationship management and strategies.Customer relationship management and strategies. • Major trends and forces that are changing the marketingMajor trends and forces that are changing the marketing landscape in this new age of relationships.landscape in this new age of relationships.
    10. 10. Professor Takada 1-10 A Simple Model of the Marketing Process Understand the marketplace and customer needs and wants Understand the marketplace and customer needs and wants Capture value from customers to create profits and customer equity Capture value from customers to create profits and customer equity Create value for customers and build customer relationships Capture value from customers in return Design a customer- driven marketing strategy Design a customer- driven marketing strategy Build profitable relationships and create customer delight Build profitable relationships and create customer delight Construct a marketing program that delivers superior value Construct a marketing program that delivers superior value
    11. 11. Professor Takada 1-11 ROAD MAP: Previewing the Concepts • What is marketing?What is marketing? • Key steps in the marketing process.Key steps in the marketing process. • Consumers’ needs, wants, and demands.Consumers’ needs, wants, and demands. • Five core marketplace concepts.Five core marketplace concepts. • Key elements of a customer-driven marketing strategy.Key elements of a customer-driven marketing strategy. • Marketing management orientations that guideMarketing management orientations that guide marketing strategy.marketing strategy. • Customer relationship management and strategies.Customer relationship management and strategies. • Major trends and forces that are changing the marketingMajor trends and forces that are changing the marketing landscape in this new age of relationships.landscape in this new age of relationships.
    12. 12. Professor Takada 1-12 NeedsNeeds - state of felt deprivation including- state of felt deprivation including physical, social, and individual needs.physical, social, and individual needs. Types of Needs • Physical:Physical: – Food, clothing, shelter, safetyFood, clothing, shelter, safety • Social:Social: – Belonging, affectionBelonging, affection • Individual:Individual: – Learning, knowledge, self-expressionLearning, knowledge, self-expression WantsWants - form that a human need takes, as- form that a human need takes, as shaped by culture and individualshaped by culture and individual personality.personality.
    13. 13. Professor Takada 1-13 I want it, I need it… 5 Types of Needs5 Types of Needs • Stated needsStated needs • Real needsReal needs • Unstated needsUnstated needs • Delight needsDelight needs • Secret needsSecret needs
    14. 14. Professor Takada 1-14 What is Marketed? GoodsGoods ServicesServices Events & ExperiencesEvents & Experiences PersonsPersons Places & PropertiesPlaces & Properties OrganizationsOrganizations InformationInformation IdeasIdeas
    15. 15. Professor Takada 1-15 Marketing Goods
    16. 16. Professor Takada 1-16 Marketing Ideas: Friends Don’t Let Friends Drive Drunk This is the watch Stephen Hollingshead, Jr. was wearing when he encountered a drunk driver. Time of death 6:55 p.m.
    17. 17. Professor Takada 1-17 Products Anything that can be Offered to a Market to Satisfy a Need or Want Products Anything that can be Offered to a Market to Satisfy a Need or Want PersonsPersons PlacesPlaces OrganizationsOrganizations IdeasIdeasInformationInformation What Satisfies Consumers’ Needs and Wants? Services Activity or Benefit Offered for Sale That is Essentially Intangible and Does Not Result in the Ownership of Anything Services Activity or Benefit Offered for Sale That is Essentially Intangible and Does Not Result in the Ownership of Anything
    18. 18. Professor Takada 1-18 Product as an Idea Products do not have to be physical objects. Here the “product” is an idea —protecting animals.
    19. 19. Professor Takada 1-19 Marketing Myopia • Sellers pay moreSellers pay more attention to the specificattention to the specific products they offer thanproducts they offer than to the benefits andto the benefits and experiences producedexperiences produced by the products.by the products. • They focus on theThey focus on the “wants” and lose sight“wants” and lose sight of the “needs.”of the “needs.”
    20. 20. Professor Takada 1-20 Value and Satisfaction Expectation Performance 810 If performance is lower than expectations, satisfaction is low. If performance is higher than expectations, satisfaction is high. Expectation Performance 108
    21. 21. Professor Takada 1-21 A Simple Marketing System
    22. 22. Professor Takada 1-22 Elements of a Modern Marketing System
    23. 23. Professor Takada 1-23 Structure of Flows in a Modern Exchange Economy
    24. 24. Professor Takada 1-24 Marketing Management • The art and science of choosing targetThe art and science of choosing target markets and building profitablemarkets and building profitable relationships with them.relationships with them. Questions to ask:Questions to ask: 1.1. What customers will we serve?What customers will we serve? What is our target market?What is our target market? 2.2. How can we best serve these customers?How can we best serve these customers? What is our value proposition?What is our value proposition?
    25. 25. Professor Takada 1-25 Segmentation and Target Marketing Market Segmentation: Divide the market into segments of customers Target Marketing: Select the segment to cultivate #1 #2
    26. 26. Professor Takada 1-26 Marketing Management Finding and increasingFinding and increasing demand, also changing ordemand, also changing or reducing demand, such as inreducing demand, such as in demarketing.demarketing. DemandDemand ManagementManagement Temporarily or permanentlyTemporarily or permanently reducing the number ofreducing the number of customers or shifting theircustomers or shifting their demand.demand. DemarketingDemarketing
    27. 27. Professor Takada 1-27 ROAD MAP: • What is marketing?What is marketing? • Key steps in the marketing process.Key steps in the marketing process. • Consumers’ needs and wants.Consumers’ needs and wants. • Five core marketplace concepts.Five core marketplace concepts. • Key elements of a customer-driven marketing strategy.Key elements of a customer-driven marketing strategy. • Marketing management orientations that guideMarketing management orientations that guide marketing strategy.marketing strategy. • Customer relationship management and strategies.Customer relationship management and strategies. • Major trends and forces that are changing the marketingMajor trends and forces that are changing the marketing landscape in this new age of relationships.landscape in this new age of relationships.
    28. 28. Professor Takada 1-28 Marketing Management Philosophies Production ConceptProduction Concept Product ConceptProduct Concept Selling ConceptSelling Concept Marketing ConceptMarketing Concept Societal Marketing ConceptSocietal Marketing Concept
    29. 29. Professor Takada 1-29 Marketing and Sales Concepts Contrasted
    30. 30. Professor Takada 1-30 Societal Marketing Concept
    31. 31. Professor Takada 1-31 Corporate Social Initiatives
    32. 32. Professor Takada 1-32 Corporate Social Initiatives
    33. 33. Professor Takada 1-33 Holistic Marketing Dimensions
    34. 34. Professor Takada 1-34 ROAD MAP: • What is marketing?What is marketing? • Key steps in the marketing process.Key steps in the marketing process. • Consumers’ needs and wants.Consumers’ needs and wants. • Five core marketplace concepts.Five core marketplace concepts. • Key elements of a customer-driven marketing strategy.Key elements of a customer-driven marketing strategy. • Marketing management orientations that guideMarketing management orientations that guide marketing strategy.marketing strategy. • Customer relationship management and strategies.Customer relationship management and strategies. • Major trends and forces that are changing the marketingMajor trends and forces that are changing the marketing landscape in this new age of relationships.landscape in this new age of relationships.
    35. 35. Professor Takada 1-35 The Marketing Mix CustomerCustomer NeedsNeeds ProductProduct PricePrice PromotionPromotion DistributionDistribution
    36. 36. Professor Takada 1-36 Marketing-Mix Strategy
    37. 37. Professor Takada 1-37 Marketing Mix and the Customer Four P’sFour P’s • ProductProduct • PricePrice • PlacePlace • PromotionPromotion Four C’sFour C’s • Customer solutionCustomer solution • Customer costCustomer cost • ConvenienceConvenience • CommunicationCommunication
    38. 38. Professor Takada 1-38 Factors Influencing Marketing Strategy
    39. 39. Professor Takada 1-39 Marketing Management Tasks • DevelopingDeveloping marketing strategiesmarketing strategies • Capturing marketingCapturing marketing insightsinsights • Connecting withConnecting with customerscustomers • Building strongBuilding strong brandsbrands • Shaping marketShaping market offeringsofferings • Delivering valueDelivering value • CommunicatingCommunicating valuevalue • Creating long-termCreating long-term growthgrowth
    40. 40. Professor Takada 1-40 ROAD MAP: • What is marketing?What is marketing? • Key steps in the marketing process.Key steps in the marketing process. • Consumers’ needs and wants.Consumers’ needs and wants. • Five core marketplace concepts.Five core marketplace concepts. • Key elements of a customer-driven marketing strategy.Key elements of a customer-driven marketing strategy. • Marketing management orientations that guideMarketing management orientations that guide marketing strategy.marketing strategy. • Customer relationship management and strategies.Customer relationship management and strategies. • Major trends and forces that are changing the marketingMajor trends and forces that are changing the marketing landscape in this new age of relationships.landscape in this new age of relationships.
    41. 41. Professor Takada 1-41 Customer Relationship Management • The process of building and maintainingThe process of building and maintaining profitable customer relationships byprofitable customer relationships by delivering superior customer value anddelivering superior customer value and satisfaction.satisfaction. Customer Perceived Value • Customer’s evaluation of the differenceCustomer’s evaluation of the difference between all the benefits and all the costs of abetween all the benefits and all the costs of a marketing offer relative to those of competingmarketing offer relative to those of competing offers.offers.
    42. 42. Professor Takada 1-42 Customer Relationship Levels Basic Relationship Full Partnership Continuum
    43. 43. Professor Takada 1-43 Loyalty and Retention Financial Benefits Social Benefits Structural Ties
    44. 44. Professor Takada 1-44 Partner Relationship Marketing Partners Inside the Firm 1. All employees customer focused 2. Teams coordinate efforts toward customers Partners Outside the Firm 1. Supply chain management 2. Strategic alliances
    45. 45. Professor Takada 1-45 • Customer Lifetime ValueCustomer Lifetime Value – The entire stream of purchases that the customerThe entire stream of purchases that the customer would make over a lifetime of patronage.would make over a lifetime of patronage. • Share of CustomerShare of Customer – The share a company gets of the customersThe share a company gets of the customers purchasing in their product categories.purchasing in their product categories. Customer Loyalty & Retention Customer Equity • Customer equity is the total combinedCustomer equity is the total combined customer lifetime values of all thecustomer lifetime values of all the company’s customers.company’s customers.
    46. 46. Professor Takada 1-46 Customer Relationship Groups Projected loyalty High Profitability Low Long-term customers Short-term customers Good fit between company’s offerings and customer’s needs; high profit potential Limited fit between company’s offerings and customer’s needs; low profit potential Little fit between company’s offerings and customer’s needs; lowest profit potential Good fit between company’s offerings and customer’s needs; highest profit potential Strangers Butterflies True Friends Barnacles
    47. 47. Professor Takada 1-47 ROAD MAP: • What is marketing?What is marketing? • Key steps in the marketing process.Key steps in the marketing process. • Consumers’ needs and wants.Consumers’ needs and wants. • Five core marketplace concepts.Five core marketplace concepts. • Key elements of a customer-driven marketing strategy.Key elements of a customer-driven marketing strategy. • Marketing management orientations that guideMarketing management orientations that guide marketing strategy.marketing strategy. • Customer relationship management and strategies.Customer relationship management and strategies. • Major trends and forces that are changing the marketingMajor trends and forces that are changing the marketing landscape in this new age of relationships.landscape in this new age of relationships.
    48. 48. Professor Takada 1-48 The Internet • TheThe InternetInternet has been hailed as thehas been hailed as the technology behind a New Economy.technology behind a New Economy. • Marketing applications include:Marketing applications include: – ““Click-and-mortar” companiesClick-and-mortar” companies – ““Click-only” companiesClick-only” companies – Business-to-business e-commerceBusiness-to-business e-commerce • Business-to-business transactions onlineBusiness-to-business transactions online are expected to reach $4.3 trillion in 2005.are expected to reach $4.3 trillion in 2005. • By 2005, 500,000 companies will use theBy 2005, 500,000 companies will use the Internet to do business.Internet to do business.
    49. 49. Professor Takada 1-49 New Marketing Landscape Rapid Globalization Ethics & Social Responsibility New World of Marketing Relationships Not-for-Profit Marketing
    50. 50. Professor Takada 1-50 Global Markets Coke is represented at the first China International Beverage Festival in Beijing in 2003
    51. 51. Professor Takada 1-51 The marketplace isn’t what it used to be… Changing technologyChanging technology GlobalizationGlobalization DeregulationDeregulation PrivatizationPrivatization EmpowermentEmpowerment CustomizationCustomization ConvergenceConvergence DisintermediationDisintermediation
    52. 52. Professor Takada 1-52 Core Concepts • Needs, wants, andNeeds, wants, and demandsdemands • Target markets,Target markets, positioning,positioning, segmentationsegmentation • Offerings and brandsOfferings and brands • Value andValue and satisfactionsatisfaction • Marketing channelsMarketing channels • Supply chainSupply chain • CompetitionCompetition • MarketingMarketing environmentenvironment • Marketing planningMarketing planning
    53. 53. Professor Takada 1-53 Rest Stop: Reviewing the Concepts 1.1. Define marketing and outline the steps in the marketingDefine marketing and outline the steps in the marketing process.process. 2.2. Explain the importance of understanding customersExplain the importance of understanding customers and the marketplace, and identify the five coreand the marketplace, and identify the five core marketplace concepts.marketplace concepts. 3.3. Identify the key elements of a customer-drivenIdentify the key elements of a customer-driven marketing strategy and discuss marketing managementmarketing strategy and discuss marketing management orientations that guide marketing strategy.orientations that guide marketing strategy. 4.4. Discuss customer relationship management andDiscuss customer relationship management and strategies for building lasting customer relationships.strategies for building lasting customer relationships. 5.5. Describe the major trends and forces that are changingDescribe the major trends and forces that are changing the marketing landscape in this new age ofthe marketing landscape in this new age of relationships.relationships.

    ×