3. What’s Marketing?
• Traditional Definition
• Is it telling and selling?
• Managing profitable customer
relationships
• Value creation
• Ex-Tide, Wal Mart, Walt Disney, Apple
4. Marketing Process
• Understand the marketplace and customer
needs and wants
• Design a customer driven marketing strategy
• Construct an integrated marketing program that
delivers superior value
• Build profitable relationships and build customer
delight
• Capture value from customers and create profits
and customer equity
5. Understanding marketplace and
customer needs
• Needs, wants and demands
• Market offerings
• Customer value and satisfaction
• Exchanges and relationships
• Markets-Interactivity
-Marketing System
6. Design a customer driven
marketing strategy
• What customers we will serve?
• How can we serve these customers best?
• Marketing Strategies Orientations
-Production Concept
-Product Concept
-Selling Concept
-Marketing Concept (Herb Kelleher-Customer Department not marketing
department /
Customer Driven
Customer Driving “Our goal is to lead customers where they want to go before
they know where they want to go”-A 3M
-Societal Marketing Concept
Conflict between short run wants and long term welfare needs to be
addressed.
Need to balance three considerations-Customer, Company and Society
J&J Credo-not a social welfare program, but plain good business
7. Integrated Marketing Program
• All marketing mix tools need to be blended
into an IM program that communicates
and delivers intended value to chosen
customers.
8. Building Customer Relations
• Relationship Marketing vs Transaction
Marketing
• CRM means building and maintaining
profitable customer relationships by
delivering
-Value-Not accurate and objective. Its on
perceived value
-Satisfaction
• CRM, PRM
9. Capture Value from Customers
• Creating Customer Loyalty and Retention
• CLTV
