Introduction to Marketing
Chapter 1
Marketing: Managing Profitable
Customer Relationships
Course Goals
• To outline the marketing function and its role
within a corporation’s business strategies, also
hopefully g...
TEXT BOOK
Principles of Marketing
Chapter 1
Introduction to Marketing
Philip Kotler,
Gary Armstrong, (12e)
…and how do I score some really serious
grades?
• There’s no rocket science to getting good
grades
• The secret: Work Hard...
Concepts
1. What Is Marketing?
2. Understanding the Marketplace and Customer
Needs
3. Designing a Customer-Driven Marketin...
What Is Marketing?
Marketing Defined
Marketing is the process by which
Chapter 1
Introduction to Marketing
Marketing is th...
What Is Marketing?
The Marketing Process
1. Understand the marketplace and customer
wants and needs
Chapter 1
Introduction...
What Can Be
Marketed?
• Goods
• Services
• Places
• Ideas
• Events
Chapter 1
Introduction to Marketing
• Events
• Persons
...
Understanding the Marketplace
and Customer Needs
Maslow’s Pyramid of Needs
Chapter 1
Introduction to Marketing
Understanding the Marketplace
and Customer Needs
Customer Needs, Wants, and
Demands
• Needs are states of deprivation
Chap...
Understanding the Marketplace
and Customer Needs
Customer Needs, Wants, and
Demands
Wants are the form that needs take as
...
Understanding the Marketplace
and Customer Needs
Market Offerings—Products,
Services, and Experiences
Marketing myopia is ...
Understanding the Marketplace
and Customer Needs
Markets are the set of actual and potential
buyers of a product
Marketing...
Understanding the Marketplace
and Customer Needs
Marketing system consists of all of the actors
in the system who are affe...
Designing a Customer-Driven
Marketing Strategy
Marketing Management
Marketing management is the art and
science of choosin...
Designing a Customer-Driven
Marketing Strategy
Selecting Customers to Serve
Market segmentation: Dividing
Chapter 1
Introd...
Designing a Customer-Driven
Marketing Strategy
Selecting Customers to Serve
De-marketing: Marketing to reduce
Chapter 1
In...
Designing a Customer-Driven
Marketing Strategy
Selecting Customers to Serve
Marketing management is:
Chapter 1
Introductio...
Designing a Customer-Driven
Marketing Strategy
Choosing a Value Proposition
The value proposition is the set of
Chapter 1
...
Designing a Customer-Driven
Marketing Strategy
Marketing Management
Orientations
• Production concept
Chapter 1
Introducti...
Designing a Customer-Driven
Marketing Strategy
Marketing Management
Orientations
Chapter 1
Introduction to Marketing
Produ...
Designing a Customer-Driven
Marketing Strategy
Marketing Management Orientations
Product concept is the idea that
consumer...
Designing a Customer-Driven
Marketing Strategy
Marketing Management
Orientations
Selling concept is the idea that
Chapter ...
Designing a Customer-Driven
Marketing Strategy
Marketing Management Orientations
Marketing concept is the idea that
achiev...
Chapter 1
Introduction to Marketing
Designing a Customer-Driven
Marketing Strategy
Marketing Management Orientations
Societal marketing concept is the idea
th...
Preparing an Integrated
Marketing Plan and Program
Marketing Mix
The marketing mix is the set of
tools (four Ps) the firm ...
Preparing an Integrated
Marketing Plan and Program
Integrated Marketing Program
Integrated marketing program is
Chapter 1
...
Building Customer Relationships
Customer Relationship Management
(CRM)
Customer relationship management is
Chapter 1
Intro...
Building Customer Relationships
Customer Relationship
Management
(CRM)
Customer perceived value is the difference
Chapter ...
Building Customer Relationships
Partner Relationship Management
Supply chain is a channel that stretches
from raw material...
Capturing Value from Customers
Creating Customer Loyalty and
Retention
Chapter 1
Introduction to Marketing
Customer lifeti...
Capturing Value from Customers
Growing Share of Customer
Share of customer is the portion of
Chapter 1
Introduction to Mar...
Capturing Value from Customers
Building Customer Equity
Customer equity is the total
combined customer lifetime
Chapter 1
...
The New Marketing Landscape
Major Developments
• Digital age
Chapter 1
Introduction to Marketing
• Globalization
• Ethics ...
The New Marketing Landscape
The New Digital Age
• Recent technology has had a major impact
on the ways marketers connect w...
The New Marketing Landscape
Rapid Globalization
• The world is smaller
Chapter 1
Introduction to Marketing
• The world is ...
The New Marketing Landscape
The Call for More Ethics and
Social Responsibility
Social marketing campaigns
Chapter 1
Introd...
The New Marketing Landscape
The Growth for Not-for-Profit
Marketing
• Colleges
Chapter 1
Introduction to Marketing
• Colle...
Summary
1. What Is Marketing?
2. Understanding the Marketplace and Customer
Needs
3. Designing a Customer-Driven Marketing...
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Principlesof marketing 01 [compatibility mode]

  1. 1. Introduction to Marketing Chapter 1 Marketing: Managing Profitable Customer Relationships
  2. 2. Course Goals • To outline the marketing function and its role within a corporation’s business strategies, also hopefully generating a passion for the Marketing discipline and empowering you to evaluate Marketing as a possible career choice • To introduce you to marketing strategy and to the elements of marketing analysis: customer analysis, company analysis, and competitor analysis Chapter 1 Introduction to Marketing company analysis, and competitor analysis • To familiarize you with the elements of the marketing mix (product, pricing, promotion, and distribution strategies) and enhance your problem solving and decision making abilities in these operational areas of marketing tactics HAVE LOTS OF FUN!HAVE LOTS OF FUN!
  3. 3. TEXT BOOK Principles of Marketing Chapter 1 Introduction to Marketing Philip Kotler, Gary Armstrong, (12e)
  4. 4. …and how do I score some really serious grades? • There’s no rocket science to getting good grades • The secret: Work Hard! A grade will be composed of: Quizzes 5% Chapter 1 Introduction to Marketing Quizzes 5% Assignments 10% Project/ Presentation 10% Midterm exam 25% Final exam 50% TOTAL 100% The allocation of the percentage is subject to change.
  5. 5. Concepts 1. What Is Marketing? 2. Understanding the Marketplace and Customer Needs 3. Designing a Customer-Driven Marketing Strategy 4. Preparing an Integrated Marketing Plan and Chapter 1 Introduction to Marketing 4. Preparing an Integrated Marketing Plan and Program 5. Building Customer Relationships 6. Capturing Value from Customers 7. The New Marketing Landscape 8. So, What Is Marketing? Pulling It All Together
  6. 6. What Is Marketing? Marketing Defined Marketing is the process by which Chapter 1 Introduction to Marketing Marketing is the process by which companies create value for customers and build strong customer relationships to capture value from customers in return
  7. 7. What Is Marketing? The Marketing Process 1. Understand the marketplace and customer wants and needs Chapter 1 Introduction to Marketing wants and needs 2. Design a customer-driven marketing strategy 3. Construct a marketing plan that delivers superior value 4. Build profitable relationships and create customer satisfaction 5. Capture value from customers to create profit and customer equity
  8. 8. What Can Be Marketed? • Goods • Services • Places • Ideas • Events Chapter 1 Introduction to Marketing • Events • Persons • Properties • Organizations • Information • Experiences What is being marketed in this ad?
  9. 9. Understanding the Marketplace and Customer Needs Maslow’s Pyramid of Needs Chapter 1 Introduction to Marketing
  10. 10. Understanding the Marketplace and Customer Needs Customer Needs, Wants, and Demands • Needs are states of deprivation Chapter 1 Introduction to Marketing • Needs are states of deprivation • Physical—food, clothing, warmth, safety • Social—belonging and affection • Individual—knowledge and self- expression
  11. 11. Understanding the Marketplace and Customer Needs Customer Needs, Wants, and Demands Wants are the form that needs take as Chapter 1 Introduction to Marketing Wants are the form that needs take as they are shaped by culture and individual personality Demands are wants backed by buying power
  12. 12. Understanding the Marketplace and Customer Needs Market Offerings—Products, Services, and Experiences Marketing myopia is focusing only Chapter 1 Introduction to Marketing Marketing myopia is focusing only on existing wants and losing sight of underlying consumer needs Exchange is the act of obtaining a desired object from someone by offering something in return
  13. 13. Understanding the Marketplace and Customer Needs Markets are the set of actual and potential buyers of a product Marketing system consists of all of the actors (suppliers, company, competitors, intermediaries, and end users) in the system Chapter 1 Introduction to Marketing intermediaries, and end users) in the system who are affected by major environmental forces • Demographic • Economic • Physical • Technological • Political–legal • Socio-cultural
  14. 14. Understanding the Marketplace and Customer Needs Marketing system consists of all of the actors in the system who are affected by major environmental forces Chapter 1 Introduction to Marketing
  15. 15. Designing a Customer-Driven Marketing Strategy Marketing Management Marketing management is the art and science of choosing target markets Chapter 1 Introduction to Marketing science of choosing target markets and building profitable relationships with them • What customers will we serve? • How can we best serve these customers?
  16. 16. Designing a Customer-Driven Marketing Strategy Selecting Customers to Serve Market segmentation: Dividing Chapter 1 Introduction to Marketing Market segmentation: Dividing the markets into segments of customers Target marketing: Which segments to go after
  17. 17. Designing a Customer-Driven Marketing Strategy Selecting Customers to Serve De-marketing: Marketing to reduce Chapter 1 Introduction to Marketing De-marketing: Marketing to reduce demand temporarily or permanently; the aim is not to destroy demand but to reduce or shift it.
  18. 18. Designing a Customer-Driven Marketing Strategy Selecting Customers to Serve Marketing management is: Chapter 1 Introduction to Marketing Marketing management is: • Customer management • Demand management
  19. 19. Designing a Customer-Driven Marketing Strategy Choosing a Value Proposition The value proposition is the set of Chapter 1 Introduction to Marketing The value proposition is the set of benefits or values a company promises to deliver to customers to satisfy their needs
  20. 20. Designing a Customer-Driven Marketing Strategy Marketing Management Orientations • Production concept Chapter 1 Introduction to Marketing • Production concept • Product concept • Selling concept • Marketing concept • Societal concept
  21. 21. Designing a Customer-Driven Marketing Strategy Marketing Management Orientations Chapter 1 Introduction to Marketing Production concept is the idea that consumers will favor products that are available or highly affordable
  22. 22. Designing a Customer-Driven Marketing Strategy Marketing Management Orientations Product concept is the idea that consumers will favor products that Chapter 1 Introduction to Marketing consumers will favor products that offer the most quality, performance, and features for which the organization should therefore devote its energy to making continuous improvements
  23. 23. Designing a Customer-Driven Marketing Strategy Marketing Management Orientations Selling concept is the idea that Chapter 1 Introduction to Marketing 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
  24. 24. Designing a Customer-Driven Marketing Strategy Marketing Management Orientations Marketing concept is the idea that achieving organizational goals depends Chapter 1 Introduction to Marketing achieving organizational goals depends on knowing the needs and wants of the target markets and delivering the desired satisfactions better than competitors do
  25. 25. Chapter 1 Introduction to Marketing
  26. 26. Designing a Customer-Driven Marketing Strategy Marketing Management Orientations Societal marketing concept is the idea that a company should make good Chapter 1 Introduction to Marketing 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
  27. 27. Preparing an Integrated Marketing Plan and Program Marketing Mix The marketing mix is the set of tools (four Ps) the firm uses to Chapter 1 Introduction to Marketing tools (four Ps) the firm uses to implement its marketing strategy • Product • Price • Promotion • Place
  28. 28. Preparing an Integrated Marketing Plan and Program Integrated Marketing Program Integrated marketing program is Chapter 1 Introduction to Marketing Integrated marketing program is a comprehensive plan that communicates and delivers the intended value to chosen customers
  29. 29. Building Customer Relationships Customer Relationship Management (CRM) Customer relationship management is Chapter 1 Introduction to Marketing Customer relationship management is the overall process of building and maintaining profitable customer relationships by delivering superior value and satisfaction
  30. 30. Building Customer Relationships Customer Relationship Management (CRM) Customer perceived value is the difference Chapter 1 Introduction to Marketing Customer perceived value is the difference between total customer value and total customer cost Customer satisfaction is the extent to which a product’s perceived performance matches a buyer’s expectations
  31. 31. Building Customer Relationships Partner Relationship Management Supply chain is a channel that stretches from raw materials to components to Chapter 1 Introduction to Marketing from raw materials to components to final products to final buyers • Supply management • Strategic partners • Strategic alliances
  32. 32. Capturing Value from Customers Creating Customer Loyalty and Retention Chapter 1 Introduction to Marketing Customer lifetime value is the value of the entire stream of purchases that the customer would make over a lifetime of patronage
  33. 33. Capturing Value from Customers Growing Share of Customer Share of customer is the portion of Chapter 1 Introduction to Marketing Share of customer is the portion of the customer’s purchasing that a company gets in its product categories
  34. 34. Capturing Value from Customers Building Customer Equity Customer equity is the total combined customer lifetime Chapter 1 Introduction to Marketing combined customer lifetime values of all of the company’s customers
  35. 35. The New Marketing Landscape Major Developments • Digital age Chapter 1 Introduction to Marketing • Globalization • Ethics and social responsibility • Not-for-profit marketing
  36. 36. The New Marketing Landscape The New Digital Age • Recent technology has had a major impact on the ways marketers connect with and bring value to their customers • Market research • Learning about and tracking customers Chapter 1 Introduction to Marketing • Learning about and tracking customers • Create new customized products • Distribution • Communication • Video conferencing • Online data services
  37. 37. The New Marketing Landscape Rapid Globalization • The world is smaller Chapter 1 Introduction to Marketing • The world is smaller • Think globally, act locally
  38. 38. The New Marketing Landscape The Call for More Ethics and Social Responsibility Social marketing campaigns Chapter 1 Introduction to Marketing Social marketing campaigns encourage energy conservation and concern for the environment or discourage smoking, excessive drinking, and drug use
  39. 39. The New Marketing Landscape The Growth for Not-for-Profit Marketing • Colleges Chapter 1 Introduction to Marketing • Colleges • Hospitals • Museums • Zoos • Religious groups
  40. 40. Summary 1. What Is Marketing? 2. Understanding the Marketplace and Customer Needs 3. Designing a Customer-Driven Marketing Strategy 4. Preparing an Integrated Marketing Plan and Chapter 1 Introduction to Marketing 4. Preparing an Integrated Marketing Plan and Program 5. Building Customer Relationships 6. Capturing Value from Customers 7. The New Marketing Landscape 8. So, What Is Marketing? Pulling It All Together

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