This document provides an introduction to marketing management. It defines key marketing concepts like markets, the marketing mix, and different philosophies of marketing. It discusses how marketing creates value for customers to build relationships. The goal of marketing management is to capture value from customers through customer loyalty, retention, share of customer, and customer equity. Marketers must classify customers into groups based on profitability and loyalty in order to implement the right relationship strategies for each group.
Distribution channels marketing management pptGanesh Asokan
Distribution channels - their Nature and importance of channels, Channel behavior & organization, Channel design decisions and Channel Management decisions.
Presentation done by the management students of D.G Vaishnav school of management for marketing internals..
Objectives of sales management are derived from the organizations marketing objectives.
Ultimate sales objective of an organisation is to have a decent growth in sales.
More specifically, sales management objectives can be grouped under:
Quantitative Objectives (Short-term)
Qualitative Objectives (Long-term)
Distribution channels marketing management pptGanesh Asokan
Distribution channels - their Nature and importance of channels, Channel behavior & organization, Channel design decisions and Channel Management decisions.
Presentation done by the management students of D.G Vaishnav school of management for marketing internals..
Objectives of sales management are derived from the organizations marketing objectives.
Ultimate sales objective of an organisation is to have a decent growth in sales.
More specifically, sales management objectives can be grouped under:
Quantitative Objectives (Short-term)
Qualitative Objectives (Long-term)
The Value of Long Engagements by Will BermenderWill Bermender
Building shareholder value by building customer relationships that drive customer acquisition, retention and profitability across the enterprise. Will Bermender, Customer Interface Magazine, March 2000
The Value of Long Engagements by Will BermenderWill Bermender
Building shareholder value by building customer relationships that drive customer acquisition, retention and profitability across the enterprise. Will Bermender, Customer Interface Magazine, March 2000
Customer Relationship Marketing Building Customer Relation.docxalanrgibson41217
Customer Relationship Marketing
Building Customer Relationships for Enduring Profits
in a Wired Economy
John G. Sanchez
President & CEO
Zunch, Inc.
Customer Relationship Marketing John G. Sanchez 2
Table of Contents
I. Introducing Customer Relationship Marketing ……………..……3
II. Defining Customer Relationship Marketing ..……..………………5
III. The Customer Relationship Marketing Revolution..……….….8
IV. Breaking From Tradition..…...…..………………………….………...10
V. Getting Loyalty Into The Loop .………..……...…………………….15
VI. Measuring Loyalty……..………...………………....………….…………17
VII. Getting The Right Mix………….…...……………………….……….....20
VIII. Righting Marketing Wrongs…….……...……….…...…....…..……23
IX. The Basics Of Customer Relationship Marketing...……….….25
X. End Notes……………...………………..…………………………….………..31
Customer Relationship Marketing John G. Sanchez 3
I. Introducing Customer Relationship Marketing
Marketers started the new millennium in one of two groups: those who practice
Customer Relationship Marketing, and those who do not. Those who do are
reorganizing their marketing programs to create and strengthen brand loyalty.
They put as much emphasis on retaining customers as they do on attracting
customers. These same marketers are also abandoning the notion that
advertising’s job ends with the sale, that it’s goal is to effect some “hands-off”
at some cash register. They recognize that the sale is the beginning of an
opportunity to create an enduring, profitable brand relationship with the
customer.
Those who do not practice Customer Relationship Marketing (CRM) may not
have to—yet. But they will. They will if they are to survive in this millennium,
if they are to sustain profitable growth in the face of diminishing returns from
the marketing waves that preceded CRM. There are three such waves, which,
collectively, have driven marketing since World War II.
Mass marketing fostered growth through economies of scale and
efficiencies of reach, constructs as old as the Industrial Revolution kept
relevant by the post-war boom in population and uninterrupted gains in
discretionary income. Mass products and services were mass marketed
and mass distributed to mass markets through mass advertising in mass
media.
Targeted marketing took over when mass marketers realized that all
customers are not created equal. Focused marketing led not only to
specialized products and specialized distribution but also to specialized
media, audiences and messages.
Global marketing, which many marketers use to this day, is essentially a
hybrid that takes the targeted approach across geography instead of
within geography. To achieve the economies of scale promised by mass
marketing, marketers searched for common target markets worldwide.
When marketers discovered, for example, that teenagers in Melbourne,
Munich, and Manhattan shared a gr.
Get Loyalty Smart - Sectors of Opportunityemmersons1
Brands are starting to rethink what loyalty means for their customers, and this week, we look at a the range of strategies that different sectors are adopting.
The whole effort is to support and uplift beginners in marketing who search essentials in marketing.
Reference Test Book - Principles of Marketing
15th Edition
By
Phillip Kotler
Gary Armstrong
Mastering Multi-Touchpoint Content Strategy: Navigate Fragmented User JourneysSearch Engine Journal
Digital platforms are constantly multiplying, and with that, user engagement is becoming more intricate and fragmented.
So how do you effectively navigate distributing and tailoring your content across these various touchpoints?
Watch this webinar as we dive into the evolving landscape of content strategy tailored for today's fragmented user journeys. Understanding how to deliver your content to your users is more crucial than ever, and we’ll provide actionable tips for navigating these intricate challenges.
You’ll learn:
- How today’s users engage with content across various channels and devices.
- The latest methodologies for identifying and addressing content gaps to keep your content strategy proactive and relevant.
- What digital shelf space is and how your content strategy needs to pivot.
With Wayne Cichanski, we’ll explore innovative strategies to map out and meet the diverse needs of your audience, ensuring every piece of content resonates and connects, regardless of where or how it is consumed.
The What, Why & How of 3D and AR in Digital CommercePushON Ltd
Vladimir Mulhem has over 20 years of experience in commercialising cutting edge creative technology across construction, marketing and retail.
Previously the founder and Tech and Innovation Director of Creative Content Works working with the likes of Next, John Lewis and JD Sport, he now helps retailers, brands and agencies solve challenges of applying the emerging technologies 3D, AR, VR and Gen AI to real-world problems.
In this webinar, Vladimir will be covering the following topics:
Applications of 3D and AR in Digital Commerce,
Benefits of 3D and AR,
Tools to create, manage and publish 3D and AR in Digital Commerce.
Videos are more engaging, more memorable, and more popular than any other type of content out there. That’s why it’s estimated that 82% of consumer traffic will come from videos by 2025.
And with videos evolving from landscape to portrait and experts promoting shorter clips, one thing remains constant – our brains LOVE videos.
So is there science behind what makes people absolutely irresistible on camera?
The answer: definitely yes.
In this jam-packed session with Stephanie Garcia, you’ll get your hands on a steal-worthy guide that uncovers the art and science to being irresistible on camera. From body language to words that convert, she’ll show you how to captivate on command so that viewers are excited and ready to take action.
How to Run Landing Page Tests On and Off Paid Social PlatformsVWO
Join us for an exclusive webinar featuring Mariate, Alexandra and Nima where we will unveil a comprehensive blueprint for crafting a successful paid media strategy focused on landing page testing.With escalating costs in paid advertising, understanding how to maximize each visitor’s experience is crucial for retention and conversion.
This session will dive into the methodologies for executing and analyzing landing page tests within paid social channels, offering a blend of theoretical knowledge and practical insights.
The Pearmill team will guide you through the nuances of setting up and managing landing page experiments on paid social platforms. You will learn about the critical rules to follow, the structure of effective tests, optimal conversion duration and budget allocation.
The session will also cover data analysis techniques and criteria for graduating landing pages.
In the second part of the webinar, Pearmill will explore the use of A/B testing platforms. Discover common pitfalls to avoid in A/B testing and gain insights into analyzing A/B tests results effectively.
Monthly Social Media News Update May 2024Andy Lambert
TL;DR. These are the three themes that stood out to us over the course of last month.
1️⃣ Social media is becoming increasingly significant for brand discovery. Marketers are now understanding the impact of social and budgets are shifting accordingly.
2️⃣ Instagram’s new algorithm and latest guidance will help us maintain organic growth. Instagram continues to evolve, but Reels remains the most crucial tool for growth.
3️⃣ Collaboration will help us unlock growth. Who we work with will define how fast we grow. Meta continues to evolve their Creator Marketplace and now TikTok are beginning to push ‘collabs’ more too.
Unleash the power of UK SEO with Brand Highlighters! Our guide delves into the unique search landscape of Britain, equipping you with targeted strategies to dominate UK search engine results. Discover local SEO tactics, keyword magic for UK audiences, and mobile optimization secrets. Get your website seen by the right people and propel your brand to the top of UK searches.
To learn more: https://brandhighlighters.co.uk/blog/top-seo-agencies-uk/
10 Video Ideas Any Business Can Make RIGHT NOW!
You'll never draw a blank again on what kind of video to make for your business. Go beyond the basic categories and truly reimagine a brand new advanced way to brainstorm video content creation. During this masterclass you'll be challenged to think creatively and outside of the box and view your videos through lenses you may have never thought of previously. It's guaranteed that you'll leave with more than 10 video ideas, but I like to under-promise and over-deliver. Don't miss this session.
Key Takeaways:
How to use the Video Matrix
How to use additional "Lenses"
Where to source original video ideas
Top 3 Ways to Align Sales and Marketing Teams for Rapid GrowthDemandbase
In this session, Demandbase’s Stephanie Quinn, Sr. Director of Integrated and Digital Marketing, Devin Rosenberg, Director of Sales, and Kevin Rooney, Senior Director of Sales Development will share how sales and marketing shapes their day-to-day and what key areas are needed for true alignment.
When most people in the industry talk about online or digital reputation management, what they're really saying is Google search and PPC. And it's usually reactive, left dealing with the aftermath of negative information published somewhere online. That's outdated. It leaves executives, organizations and other high-profile individuals at a high risk of a digital reputation attack that spans channels and tactics. But the tools needed to safeguard against an attack are more cybersecurity-oriented than most marketing and communications professionals can manage. Business leaders Leaders grasp the importance; 83% of executives place reputation in their top five areas of risk, yet only 23% are confident in their ability to address it. To succeed in 2024 and beyond, you need to turn online reputation on its axis and think like an attacker.
Key Takeaways:
- New framework for examining and safeguarding an online reputation
- Tools and techniques to keep you a step ahead
- Practical examples that demonstrate when to act, how to act and how to recover
5 big bets to drive growth in 2024 without one additional marketing dollar AND how to adapt to the biggest shifting eCommerce trend- AI.
1) Romance Your Customers - Retention
2) ‘Alternative’ Lead Gen - Advocacy
3) The Beautiful Basics - Conversion Rate Optimization
4) Land that Bottom Line - Profitability
5) Roll the Dice - New Business Models
In this presentation, Danny Leibrandt explains the impact of AI on SEO and what Google has been doing about it. Learn how to take your SEO game to the next level and win over Google with his new strategy anyone can use. Get actionable steps to rank your name, your business, and your clients on Google - the right way.
Key Takeaways:
1. Real content is king
2. Find ways to show EEAT
3. Repurpose across all platforms
Financial curveballs sent many American families reeling in 2023. Household budgets were squeezed by rising interest rates, surging prices on everyday goods, and a stagnating housing market. Consumers were feeling strapped. That sentiment, however, appears to be waning. The question is, to what extent?
To take the pulse of consumers’ feelings about their financial well-being ahead of a highly anticipated election, ThinkNow conducted a nationally representative quantitative survey. The survey highlights consumers’ hopes and anxieties as we move into 2024. Let's unpack the key findings to gain insights about where we stand.
Digital Commerce Lecture for Advanced Digital & Social Media Strategy at UCLA...Valters Lauzums
E-commerce in 2024 is characterized by a dynamic blend of opportunities and significant challenges. Supply chain disruptions and inventory shortages are critical issues, leading to increased shipping delays and rising costs, which impact timely delivery and squeeze profit margins. Efficient logistics management is essential, yet it is often hampered by these external factors. Payment processing, while needing to ensure security and user convenience, grapples with preventing fraud and integrating diverse payment methods, adding another layer of complexity. Furthermore, fulfillment operations require a streamlined approach to handle volume spikes and maintain accuracy in order picking, packing, and shipping, all while meeting customers' heightened expectations for faster delivery times.
Amid these operational challenges, customer data has emerged as an important strategy. By focusing on personalization and enhancing customer experience from historical behavior, businesses can deliver improved website and brand experienced, better product recommendations, optimal promotions, and content to meet individual preferences. Better data analytics can also help in effectively creating marketing campaigns, improving customer retention, and driving product development and inventory management.
Innovative formats such as social commerce and live shopping are beginning to impact the digital commerce landscape, offering new ways to engage with customers and drive sales, and may provide opportunity for brands that have been priced out or seen a downturn with post-pandemic shopping behavior. Social commerce integrates shopping experiences directly into social media platforms, tapping into the massive user bases of these networks to increase reach and engagement. Live shopping, on the other hand, combines entertainment and real-time interaction, providing a dynamic platform for showcasing products and encouraging immediate purchases. These innovations not only enhance customer engagement but also provide valuable data for businesses to refine their strategies and deliver superior shopping experiences.
The e-commerce sector is evolving rapidly, and businesses that effectively manage operational challenges and implement innovative strategies are best positioned for long-term success.
Search Engine Marketing - Competitor and Keyword researchETMARK ACADEMY
Over 2 Trillion searches are made per day in Google search, which means there are more than 2 Trillion visits happening across the websites of the world wide web.
People search various questions, phrases or words. But some words and phrases are searched
more often than others.
For example, the words, ‘running shoes’ are searched more often than ‘best road running
shoes for men’
These words or phrases which people use to search on Google are called Keywords.
Some keywords are searched more often than others. Number of times a keyword is searched
for in a month is called keyword volume.
Some keywords have more relevant results than others. For the phrase “running shoes” we
get more than 80M relevant results, whereas for “best road running shoes for men” we get
only 8.
The former keyword ‘running shoes’ has way more competition from popular websites to
new and small blogs, whereas the latter keyword doesn’t have that much competition. This
search competition for a keyword is called search difficulty of a keyword or keyword
difficulty.
In other words, if the keyword difficulty is ‘low’ or ‘easy’, there won’t be any competition
and if you target such keywords on your site, you can easily rank on the front page of Google.
Some keywords are searched for, just to know or to learn some information about something,
that’s their search intention. For example, “What shoe size should I choose?” or “How to pick
the right shoe size?”
These keywords which are searched just to know about stuff are called informational
keywords. Typically people who are searching this type of keywords are top of a Conversion
funnel.
Conversion funnel is the journey that search visitors go through on their way to an email
subscription or a premium subscription to the services you offer or a purchase of products
you sell or recommend using your referral link.
For some buyers, research is the most important part when they have to buy a product.
Depending on that, their journey either widens or narrows down. These types of buyers are
Researchers and they spend more time with informational keywords.
Conversion is the action you want from your search visitors. Number of conversions that you
get for every 100 search visitors is called Conversion rate.
People who are at different stages of a conversion funnel use different types of keywords.
Mastering Local SEO for Service Businesses in the AI Era is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
Key Takeaways:
Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
2. Market
The word “Market” is derived from Latin word
“Mercatus”
It means a place where business is transacted.
A market is the set of actual and potential buyers
of a product (Kotler)
Marketing is managing markets to bring about
profitable exchange relationship
Markets are classified in many ways such as
consumer market, business market, global market,
government market, etc.
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3. Marketing
Telling and selling
Satisfying needs profitably
Managing profitable customer relationship
Creating, communicating and delivering value
Marketing is about identifying and meeting human
and social needs in a way that harmonizes with the
goals of the organization.
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4. Marketing
Marketing is about identifying and meeting human
and social needs in a way that harmonizes with the
goals of the organization.
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5. Definition of Marketing
Marketing is engaging customers and managing
profitable customer relationships.
Marketing is the process by which companies
engage customers, build strong customer
relationships, and create customer value in order
to capture value from customers in return.
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6. Definition of Marketing
The systematic planning, implementation and control of a
mix of business activities intended to bring together buyers
and sellers for the mutually advantageous exchange or
transfer of products. (Dictionary of Marketing)
Marketing is a societal process by which individuals and
groups obtain what they need and want through creating,
offering, and freely exchanging products and services of
value with others. (Kotler and Keller)
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7. Definition of Marketing
Marketing is the activity, set of institutions and
processes for creating, communicating, delivering
and exchanging offerings that have value for the
customers, clients, partners and society at large.
(American Marketing Association)
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8. 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.
Philip Kotler and Kevin Lane Keller
9. Company orientation towards
the market place
Production concept
Product concept
Selling concept
New marketing concept
Customer concept
Societal marketing concept
Holistic marketing concept
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11. Capturing Value from Customers
In the first four steps of the marketing process, the
company creates value for target customers and
builds strong relationships with them.
If it does that well, it can capture value from
customers in return, in the form of loyal customers
who buy and continue to buy the company’s
brands.
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12. Capturing Value from Customers
The final step involves capturing value in return in
the form of sales, market share, and profits.
By creating superior customer value, the firm
creates satisfied customers who stay loyal and buy
more.
This, in turn, means greater long-run returns for
the firm.
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13. Capturing Value from Customers
The outcomes of creating customer value:
customer loyalty and retention, share of market
and share of customer, and customer equity.
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14. Creating Customer Loyalty and
Retention
Good customer relationship management creates
customer satisfaction.
In turn, satisfied customers remain loyal and talk
favorably to others about the company and its
products.
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15. Creating Customer Loyalty and
Retention
Studies show big differences in the loyalty
between satisfied and dissatisfied customers.
Even slight dissatisfaction can create an enormous
drop in loyalty.
Thus, the aim of customer relationship
management is to create not only customer
satisfaction but also customer
delight.
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16. Creating Customer Loyalty and
Retention
Keeping customers loyal makes good economic
sense.
Loyal customers spend more and stay around
longer.
Research also shows that it’s five times cheaper to
keep an old customer than acquire a new one.
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17. Creating Customer Loyalty and
Retention
Conversely, customer defections can be costly.
Losing a customer means losing more than a
single sale.
It means losing the entire stream of purchases that
the customer would make over a lifetime of
patronage
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18. Customer Lifetime Value
Customer lifetime value is the value of the entire
stream of purchases a customer makes over a
lifetime of patronage.
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19. Share of Customer
Share of customer is the portion of the customer’s
purchasing that a company gets in its product
categories.
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20. Growing Share of Customer
Beyond simply retaining good customers to
capture customer lifetime value, good customer
relationship management can help marketers
increase their share of customer— the share they
get of the customer’s purchasing in their product
categories.
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21. Growing Share of Customer
Thus, banks want to increase “share of wallet.”
Supermarkets and restaurants want to get more
“share of stomach.”
Car companies want to increase “share of
garage,”.
Airlines want greater “share of travel.”
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22. Growing Share of Customer
To increase share of customer, firms can offer
greater variety to current customers.
Or
They can create programs to cross-sell and up-sell
to market more products and services to existing
customers
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23. Customer Equity
Customer equity is the total combined customer
lifetime values of all of the company’s customers
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24. Customer Equity
The ultimate aim of customer relationship
management is to produce high customer equity.
Customer equity is the total combined customer
lifetime values of all of the company’s current and
potential customers.
As such, it’s a measure of the future value of the
company’s customer base.
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25. Customer Equity
Clearly, the more loyal the firm’s profitable
customers, the higher its customer equity.
Customer equity may be a better measure of a
firm’s performance than current sales or market
share.
Whereas sales and market share reflect the past,
customer equity suggests the future
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26. Customer Equity
Marketers should care not just about current sales
and market share.
Customer lifetime value and customer equity are
the name of the game.
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27. Building the Right Relationships
with the Right Customers
Companies should manage customer equity
carefully.
They should view customers as assets that need to
be managed and maximized.
But not all customers, not even all loyal
customers, are good investments.
Surprisingly, some loyal customers can be
unprofitable, and some disloyal customers can be
profitable
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28. Which customers should the
company acquire and retain?
The company can classify customers according to
their potential profitability and manage its
relationships with them accordingly.
classifies customers into one of four relationship
groups, according to their profitability and
projected loyalty.
Each group requires a different relationship
management strategy.
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30. Strangers
Strangers show low potential profitability and
little projected loyalty.
There is little fit between the company’s offerings
and their needs.
The relationship management strategy for these
customers is simple:
Don’t invest anything in them; make money on
every transaction.
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31. Butterflies
Butterflies are potentially profitable but not loyal.
There is a good fit between the company’s
offerings and their needs.
However, like real butterflies, we can enjoy them
for only a short while and then they’re gone.
Efforts to convert butterflies into loyal customers
are rarely successful.
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32. Butterflies
Instead, the company should enjoy the butterflies
for the moment.
It should create satisfying and profitable
transactions with them, capturing as much of their
business as possible in the short time during which
they buy from the company.
Then it should move on and cease investing in
them until the next time around
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33. True Friends
True friends are both profitable and loyal. There
is a strong fit between their needs and
the company’s offerings.
The firm wants to make continuous relationship
investments to delight these customers and
engage, nurture, retain, and grow them.
It wants to turn true friends into true believers,
who come back regularly and tell others about
their good experiences with the company.
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34. Barnacles
Barnacles are highly loyal but not very profitable.
There is a limited fit between their needs and the
company’s offerings.
Like barnacles on the hull of a ship, they create
drag.
Barnacles are perhaps the most problematic
customers.
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35. Conclusions
The company might be able to improve their
profitability by selling them more, raising their
fees, or reducing service to them.
However, if they cannot be made profitable, they
should be “fired.”
Different types of customers require different
engagement and relationship management
strategies.
The goal is to build the right relationships with
the right customers.
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36. Role of Marketing Management
in the current scenario
Developing marketing strategies and plans
Capture marketing insights & performance
Connect with customers
Build strong brands
Shape the market offering
Deliver value
Communicate value
Create successful long-term growth
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38. Marketing Challenges of the 21st
Century
Intense competition
Savvy customer
Rapid globalization
Demand of ethics and social responsibility
Retail transformation
Increased cost
Brand proliferation
Media fragmentation
Rapid technological change
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39. Firms’ Responses to the
Challenges of the 21st Century
Customer Relationship Marketing
Target Marketing
Mass Customization
Integrated Marketing Communication
Partnership Marketing
Internal Marketing
Outsourcing
Digitalization
Marketing Research
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41. Marketing Environment
The term Marketing Environment refers to the
forces and factors that affects the organization
ability to built and maintain good relationship with
its customers.
Marketing environment surrounds the organization
and it impacts upon the organization.
Marketers have to interact with internal and
external people at micro and macro level and
builds internal and external relationships
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42. Marketing Environment
Marketing environment comprises all the actors
and forces outside marketing that affect marketing
management’s ability to develop and maintain
successful transactions with its target customers.
Philip Kotler
Marketing environment includes the internal and
external influences which affect marketing
decision-making and have an impact on its
performance.
Dictionary of Marketing
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43. Marketing Environment
Successful companies recognize and respond
profitably to unmet needs and trends
Ace Travels for exotic vacations
sugar free biscuits for diabetes
Western Union Money Transfer for the fastest
remittance.
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44. Either Chang or Die
Puja washing shop, Mayalu bathing shop,
Brighter and Everest toothpaste which were the
market leaders a few decade back in Nepalese
market are already disappeared from the market
because they ignored macro environmental
changes
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45. Fad
Unpredictable, short-lived, and without social,
economic, and political significance
A company can cash in on a fad such as:
T-shirt for Happy Holi, I love Nepal, Buddha
was born in Nepal, etc. but this is more a matter of
luck and good timing than anything else.
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46. Trends
Direction or sequence of events that have some
momentum and durability.
use of smart phone,
study in boarding school,
use of faded jeans pant,
use of ayurvedic products
are different present trends of Nepalese market.
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47. Trends
Trends are more predictable and durable.
A trend reveals the shape of the future.
A trend has longevity, is observable across
several market areas and consumer activities, and
is consistent with other significant indicators
occurring or emerging at the same time.
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48. Megatrends
Large social, economic, political and technological
changes that are slow to form, and once in place,
they influence us for some time—between seven
and ten years, or longer.
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49. Ten Megatrends: Identified by: Naisbitt
The booming global economy
A renaissance in the arts
The emergence of free-market socialism
Global lifestyles and cultural nationalism
The privatization of the welfare state
The rise of the Pacific Rim
The decade of women in leadership
The age of biology
The religious revival of the new millennium
The triumph of the individual
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50. Micro Environment
Micro environment consists of the forces close to the
company that affect its ability to serve its serve its
customers – the company, suppliers, marketing channels,
customers, competitors and publics.
Philip Kotler
Micro environment includes the factors or elements in a
firm’s immediate environment which affect its
performance and decision-making. These elements include
the firm’s suppliers, competitors, marketing intermediaries,
customers and publics.
Dictionary of Marketing
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51. Micro Environment
Individuals and organizations that are close to the
marketing organization and directly impacts its
ability to serve its customers, makes micro
environment.
The micro environment refers to the forces that are
close to the marketing organization and directly
impact the customer experience.
It includes the organization itself, its suppliers,
marketing intermediaries, customers, markets or
segments, competitors, and publics.
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52. Micro Environment
Micro environment is also know as operating or
task environment.
The actors close to the company that affect its
ability to serve its customers:
The company
Suppliers
Marketing intermediaries
Customer markets
Competitors and
Publics (Kotler & Armstrong)
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53. The Company
It includes:
Top management
Finance, R&D, purchasing, operations and accounting
Company’s mission, objectives, strategies and policies
Resources, organizational structure
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54. Suppliers
Suppliers form an important link in the company’s
overall customer value delivery system
They provide the resources needed by the
company to produce goods and services
Suppliers problem can seriously affect marketing
Marketing managers must watch supply
availability – supply shortage or delays, labor
strikes etc.
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55. Suppliers
Rising supply cost force to increase price that can
harm company’s sales volume, image, as well as
customer satisfaction
Most marketers today treat their suppliers as
partners in creating and delivering customer value
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56. Marketing Intermediaries
Marketing intermediaries help to the company to
promote, sale and distribute its goods to customers
They includes:
Resellers (wholesalers and retailers)
Physical distribution firms (Transport and warehouse)
Marketing service agencies (Research firms, ad
agencies, media, marketing consultants) and
Financial intermediaries (Bank, insurance co.)
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57. Marketing Intermediaries
Like suppliers, marketing intermediaries form an
important component of the company’s overall
value delivery system
The company must partner effectively with
marketing intermediaries to optimize the
performance of entire system
Thus, today’s marketers recognize the importance
of working with their intermediaries as partners
rather than simply as channels through which they
sell their products.
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58. Customers
The company needs to study five types of
customers markets closely
They are:
Consumer markets (personal consumption)
Business markets (production process)
Reseller markets (to resell at profit)
Government markets (public service)
International markets (buyers in other countries
including consumers, producers, resellers and
governments)
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59. Competitors
The marketing concept states that to be successful,
a company must provide greater customer value
and satisfaction than its competitors do.
They must gain strategic advantage by positioning
their offerings strongly against competitors’
offerings in the mind of customer
No single competitive marketing strategies is best
for all companies.
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60. Publics
A public is any group that has an actual or
potential interest in or impact on an organizations
ability to achieve its objectives.
Various types of publics are:
Financial publics (bank, investment company, stock holders)
Media publics (Radio, TV, newspaper, magazine)
Government publics (product safety, packaging, truth in
advertising)
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61. Publics
Citizen action publics (Consumer organizations,
environmental groups, minority groups)
Local publics (Neighborhood residents, community organization)
General publics (Laymen)
Internal publics (Workers, managers, volunteers, BOD)
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62. Macro Environment
Macro environment refers to all forces that are
part of the larger society and affects the micro
environment.
It includes demography, economy, politics,
culture, technology, and natural forces. Macro
environment is less controllable.
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63. Macro Environment
The large societal forces that affect the micro
environment –
Demographic
Economic
Natural
Technological
Political and
Cultural forces (Kotler & Armstrong)
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65. Economic Environment
Economic system (Free market, centrally planned, & mixed
economy)
Economic policies (Monetary, fiscal, & industrial policy)
Economic condition (Income, business cycle, inflation, stage
of economic development)
Globalization
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66. Socio-cultural Environment
Social institution (family, reference group, opinion leader,
social class)
Social change
Life style
Value and belief
Religion
Language
Attitude
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67. Technological Environment
Level of technology
Pace of technological change
Technology transfer
Research and development
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68. Political-legal Environment
Political system
Political institution
Government agencies
Political philosophy
Political stability
Business law and court of laws
Law administrators
Power blocks
Regional groups
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70. Environment Analysis
Environmental analysis is a strategic tool.
It is a process to identify all the external and
internal elements, which can affect the
organization's performance.
The analysis entails assessing the level of threat or
opportunity the factors might present.
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71. Marketing Plan
A Marketing plan is a written document that
summarizes what the marketer has learnt about the
market place and indicates how the firm plans to
reach its marketing objectives
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72. Contents of a Marketing Plam
– Executive summary and table of contents
– Situation analysis
– Objectives
– Marketing strategy
– Financial projections
– Implementation and control
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