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MARKETING Skills
1
Defining Marketing
Marketing: Creating
Customer Value
Chapter 1
1 - 2
Objectives
- Be able to define marketing
and discuss its core marketing
concepts.
- Be able to define marketing
management and compare the five
marketing management
orientations.
1 - 3
What is Marketing?
• A very simple definition of marketing
is managing profitable customer
relationships ( win-win relationship)
 Attracting new customers
 Retaining and growing current
customers
1 - 4
productionMarketing
Human
recourse
Financing
Marketing
Marketing
Marketing
Marketing
consumer
production
production
production
production
Financing Financing
Financing Financing
Human
recourse
Human
recourse
Human
recourse
Human
recourse
consumer
Development of Marketing Concepts
(1)
(4)
(2) (3)
(5)
What are the Reasons for Studying
Marketing?
5
1 - 6
Marketing Defined
Many people think of marketing only as
selling and advertising.
Today, marketing’s new sense is
concerned with satisfying customer
needs.
If you know customer needs, you will develops
product that provide customer value ,prices ,
promote and distribute
then product will sells easily
Definitions of Marketing
(a) Marketing consists of the performance of business activities that direct the
flow of goods and services from producer to consumer (American Marketing
Association).
(b) Marketing is the business process by which products are matched with
markets and through which transfer of ownership is effected (Cundiff and
Still, 1964).
(c) Marketing is a total system of business activities designed to plan, price,
promote and distribute satisfying goods and services to present and potential
customers (Stanton, 1964).
7
1 - 8
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 - 9
• Needs, wants,
and demands
• Marketing offers:
including
products,
services and
experiences
• Value and
satisfaction
• Exchange,
transactions and
relationships
• Markets
Core Marketing Concepts
What is Marketing?
core concepts
core concepts
Needs,
wants, and
demands
Marketing
offers
Value and
satisfaction
Exchange,
transactions and
relationships
Markets
1 - 11
Human needs
a) physical needs for food, clothing,
warmth, and safety.
b) Social needs for belonging and
affection.
c) Individual needs for knowledge and
self-expression.
1 - 12
Human Wants
A human want is the form that a
human need takes as shaped by
culture and individual personality.
An American needs food but wants a hamburger, French fries and
soft drink.
1 - 13
Human Demands
people demand product with benefits
add value and satisfaction.
1-14
2- Marketing Offers
Many Things Can Be Marketed!
Goods
Services
Events & Experiences
Persons
Places & Properties
Organizations
Information
Ideas
3- Value and Satisfaction
Costs Benefits
Customer value is the difference between the values
that the customer gains from owning and using a
product and the costs of obtaining the product.
Customers
form expectations about the value of various
marketing offers and buy accordingly.
2-7
1 - 16
Value and Satisfaction
1). Marketers must be careful to set the
right level of expectations.
2). Customer value and customer
satisfaction are key building for
developing and managing customer
relationships.
1 - 17
Exchanges, Transactions, and
Relationships
-Marketing occurs when people
decide to satisfy needs and
wants through exchange.
Exchange is the act of obtaining
a desired object from someone
by offering something in return.
1 - 18
Markets
• The concepts of exchange and
relationships lead to the
concept of a market.
• market is the set of actual and
potential buyers of a product.
1 - 19
Marketing Management
• Marketing management is “the art
and science of choosing target
markets and building profitable
relationships with them.”
1 - 20
Marketing Management
• Production concept
• Product concept
• Selling concept
• Marketing concept
• Societal marketing concept
Management Orientations
There are five alternative concepts under
which organizations conduct their marketing
activities:
Marketing Management
Management Orientations
Management Orientations
Production
concept
Product
concept
Selling
concept
Marketing
concept
Societal
marketing
concept
1 - 22
The Production Concept
• b. The production concept holds that
consumers will favor products that are
available and highly affordable and that
management should, therefore, focus on
improving production and distribution
efficiency. This is one of the oldest
philosophies that guides sellers
1 - 23
The Product Concept
• The product concept states that
consumers will favor products that
offer the most quality,
performance, and features, and that
the organization
1 - 24
The Selling Concept
• f. Many organizations follow the
selling concept. The selling concept
is the idea that consumers will not
buy enough of the organization’s
products unless the organization
undertakes a large-scale selling and
promotion effort.
1 - 25
Factory
Existing
product
Selling
&promoting
Profits through
sales volume
Starting point Focus Means End
the selling
concept
Market
Integrated
marketing
Customer
needs
The
marketing
concept
Profits through
customer
satisfaction
The Selling and marketing concepts
1 - 26
The Marketing Concept
• The marketing concept holds that
achieving organizational goals
depends on determining the needs
and wants of target markets and
delivering the desired satisfactions
more effectively and efficiently than
competitors do.
1 - 27
The Marketing Concept
• Under the marketing concept,
customer focus and value are paths
to sales and profits
1 - 28
The Societal Marketing Concept
• The societal marketing concept holds that
the organization should determine the
needs, wants, and interests of target
markets. It should then deliver the
desired satisfactions more effectively and
efficiently than competitors in a way
that maintains or improves the
consumer’s and the society’s well-being.
1 - 29
• The societal concept calls upon
marketers to balance three
considerations in setting their
marketing policies:
a). Company profits.
b). Customer wants.
c). Society’s interests.
1 - 30
• It has become good business to
consider and think of society’s
interests when the organization
makes marketing decisions.
1 - 31
CRM
• CRM – Customer relationship
management . . .
“is the overall process of building
and maintaining profitable
customer relationships by
delivering superior customer
value and satisfaction.”
1 - 32
CRM
• It costs 5 to 10 times MORE
to attract a new customer than
it does to keep a current
customer satisfied.
• Marketers must be concerned
with the lifetime value of the
customer.
1 - 33
CRM
• Attracting,
retaining and
growing customers
• Building customer
relationships and
customer equity
• Customer value/satisfaction
 Perceptions are key
 Meeting/exceeding
expectations creates
satisfaction
• Loyalty and retention
 Benefits of loyalty
 Loyalty increases as
satisfaction levels increase
 Delighting consumers
should be the goal
• Growing share of customer
 Cross-selling
Key Concepts
1 - 34
CRM
• Customer relationship
levels and tools
 Target market typically
dictates type of
relationship
 Basic relationships
 Full relationships
 Customer loyalty and
retention programs
 Adding financial benefits
 Adding social benefits
 Adding structural ties
• Attracting,
retaining and
growing customers
• Building customer
relationships and
customer equity
Key Concepts

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Defining Marketing .pdf.pdf

  • 3. 1 - 2 Objectives - Be able to define marketing and discuss its core marketing concepts. - Be able to define marketing management and compare the five marketing management orientations.
  • 4. 1 - 3 What is Marketing? • A very simple definition of marketing is managing profitable customer relationships ( win-win relationship)  Attracting new customers  Retaining and growing current customers
  • 5. 1 - 4 productionMarketing Human recourse Financing Marketing Marketing Marketing Marketing consumer production production production production Financing Financing Financing Financing Human recourse Human recourse Human recourse Human recourse consumer Development of Marketing Concepts (1) (4) (2) (3) (5)
  • 6. What are the Reasons for Studying Marketing? 5
  • 7. 1 - 6 Marketing Defined Many people think of marketing only as selling and advertising. Today, marketing’s new sense is concerned with satisfying customer needs. If you know customer needs, you will develops product that provide customer value ,prices , promote and distribute then product will sells easily
  • 8. Definitions of Marketing (a) Marketing consists of the performance of business activities that direct the flow of goods and services from producer to consumer (American Marketing Association). (b) Marketing is the business process by which products are matched with markets and through which transfer of ownership is effected (Cundiff and Still, 1964). (c) Marketing is a total system of business activities designed to plan, price, promote and distribute satisfying goods and services to present and potential customers (Stanton, 1964). 7
  • 9. 1 - 8 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.”
  • 10. 1 - 9 • Needs, wants, and demands • Marketing offers: including products, services and experiences • Value and satisfaction • Exchange, transactions and relationships • Markets Core Marketing Concepts What is Marketing?
  • 11. core concepts core concepts Needs, wants, and demands Marketing offers Value and satisfaction Exchange, transactions and relationships Markets
  • 12. 1 - 11 Human needs a) physical needs for food, clothing, warmth, and safety. b) Social needs for belonging and affection. c) Individual needs for knowledge and self-expression.
  • 13. 1 - 12 Human Wants A human want is the form that a human need takes as shaped by culture and individual personality. An American needs food but wants a hamburger, French fries and soft drink.
  • 14. 1 - 13 Human Demands people demand product with benefits add value and satisfaction.
  • 15. 1-14 2- Marketing Offers Many Things Can Be Marketed! Goods Services Events & Experiences Persons Places & Properties Organizations Information Ideas
  • 16. 3- Value and Satisfaction Costs Benefits Customer value is the difference between the values that the customer gains from owning and using a product and the costs of obtaining the product. Customers form expectations about the value of various marketing offers and buy accordingly. 2-7
  • 17. 1 - 16 Value and Satisfaction 1). Marketers must be careful to set the right level of expectations. 2). Customer value and customer satisfaction are key building for developing and managing customer relationships.
  • 18. 1 - 17 Exchanges, Transactions, and Relationships -Marketing occurs when people decide to satisfy needs and wants through exchange. Exchange is the act of obtaining a desired object from someone by offering something in return.
  • 19. 1 - 18 Markets • The concepts of exchange and relationships lead to the concept of a market. • market is the set of actual and potential buyers of a product.
  • 20. 1 - 19 Marketing Management • Marketing management is “the art and science of choosing target markets and building profitable relationships with them.”
  • 21. 1 - 20 Marketing Management • Production concept • Product concept • Selling concept • Marketing concept • Societal marketing concept Management Orientations There are five alternative concepts under which organizations conduct their marketing activities: Marketing Management
  • 23. 1 - 22 The Production Concept • b. The production concept holds that consumers will favor products that are available and highly affordable and that management should, therefore, focus on improving production and distribution efficiency. This is one of the oldest philosophies that guides sellers
  • 24. 1 - 23 The Product Concept • The product concept states that consumers will favor products that offer the most quality, performance, and features, and that the organization
  • 25. 1 - 24 The Selling Concept • f. Many organizations follow the selling concept. The selling concept is the idea that consumers will not buy enough of the organization’s products unless the organization undertakes a large-scale selling and promotion effort.
  • 26. 1 - 25 Factory Existing product Selling &promoting Profits through sales volume Starting point Focus Means End the selling concept Market Integrated marketing Customer needs The marketing concept Profits through customer satisfaction The Selling and marketing concepts
  • 27. 1 - 26 The Marketing Concept • The marketing concept holds that achieving organizational goals depends on determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiently than competitors do.
  • 28. 1 - 27 The Marketing Concept • Under the marketing concept, customer focus and value are paths to sales and profits
  • 29. 1 - 28 The Societal Marketing Concept • The societal marketing concept holds that the organization should determine the needs, wants, and interests of target markets. It should then deliver the desired satisfactions more effectively and efficiently than competitors in a way that maintains or improves the consumer’s and the society’s well-being.
  • 30. 1 - 29 • The societal concept calls upon marketers to balance three considerations in setting their marketing policies: a). Company profits. b). Customer wants. c). Society’s interests.
  • 31. 1 - 30 • It has become good business to consider and think of society’s interests when the organization makes marketing decisions.
  • 32. 1 - 31 CRM • CRM – Customer relationship management . . . “is the overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction.”
  • 33. 1 - 32 CRM • It costs 5 to 10 times MORE to attract a new customer than it does to keep a current customer satisfied. • Marketers must be concerned with the lifetime value of the customer.
  • 34. 1 - 33 CRM • Attracting, retaining and growing customers • Building customer relationships and customer equity • Customer value/satisfaction  Perceptions are key  Meeting/exceeding expectations creates satisfaction • Loyalty and retention  Benefits of loyalty  Loyalty increases as satisfaction levels increase  Delighting consumers should be the goal • Growing share of customer  Cross-selling Key Concepts
  • 35. 1 - 34 CRM • Customer relationship levels and tools  Target market typically dictates type of relationship  Basic relationships  Full relationships  Customer loyalty and retention programs  Adding financial benefits  Adding social benefits  Adding structural ties • Attracting, retaining and growing customers • Building customer relationships and customer equity Key Concepts