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• Marketing is managing profitable customer
relationship.
• The twofold goal of marketing- Attract new
customers by promising superior value and
to keep and grow current customers by
delivering satisfaction.
• Marketing is a social and managerial
process by which individuals and
organizations obtain what they need and
want through creating and exchanging
value with others.
• Hence, marketing is a process by which
companies create value for customers and
build strong customer relationships in
order to capture value from customers in
return.
Marketing Process
Understand
the market
place &
customer
needs and
wants
Design a
customer-
driven
marketing
strategy
Construct an
integrated
marketing
program that
delivers
superior value
Build
profitable
relationship
and create
customer
delight
Capture value
from
customers to
create profits
and customer
equity
Simple 5 Step Model Of Marketing
Process
• In the first 4 steps companies work to
understand consumers, create customer
values and build strong customer
relationship.
• In the final step, companies reap the rewards
of creating superior customer value, by in
turn capturing profits and long-term
consumer equity.
A. Understanding Marketplace And
Customer Needs
5 core customer and market concepts.
1. Needs, wants and demands
• Needs- States of deprivation. Includes physical,
social and individual needs. These are not created
by the marketers, but already existing.
• Wants- Are the form human needs take as shaped
by culture and individual personality.
• Example- when hungry, a person wants specific
roti and rice from specific places.
• Demands- Human wants that are backed by
buying power.
2. Market offerings- Consumers needs &
wants are fulfilled through market offerings.
• Some combination of products, services,
information or experiences offered to a
market to satisfy a need or a want is
market offerings.
• Market offerings are not limited to just
physical products but also to services likes-
banking, air travel, hotel stay, taxi etc.
• Marketing myopia- the mistake sellers make
of paying more attention to the specific
products they offer than to the benefits and
experiences produced by these products.
• They focus on only the existing customer
wants and lose sight of the underlying needs.
• These sellers have a problem if a new product
comes along that serves the needs better or
less effectively.
• The customer will have the same need but
will want new product.
3. Customer Value and Satisfaction-
• Customers form expectations about the
value and satisfaction that various market
offering will deliver and buy accordingly.
• Satisfied customers buy again and tell
others about their good experiences.
• Dissatisfied customers often switch to
competitors and disparage the product to
others.
4. Exchanges and Relationships-
• Marketing occurs when ppl decide to
satisfy their needs and wants through
exchange relationships.
• Exchange is the act of obtaining a desired
object from someone by offering
something in return.
5. Markets-
• Concept of exchange leads to concept of
market.
• Market is a set of all potential buyers of a
product or service.
• Marketing means managing markets to
bring about profitable customer
relationship.
• Sellers search for buyers, identify needs,
design good market offerings, set prices,
promotes and store and deliver.
• Marketing activities like- consumer
research, product development,
communication, distribution, pricing and
services are carried.
• Even buyers carry marketing, in search of
products.
B. Designing A Customer- Driven
Marketing Strategy
• After understanding consumers and the
marketplace, marketing management designs
customer driven marketing strategy.
• Marketing Management is the art & science of
choosing target market and building profitable
relationship with them.
• Marketing manager’s aim to find, attract, keep
and grow target customers by creating,
delivering and communicating superior
customer value.
• For a winning marketing strategy, the
marketing manager must answer 2
important questions.
1. What customers will we serve (our
target market)?
2. How can we serves these customers
better ( our value proposition) ?
• Marketing management is customer
management and demand
management.
1. Selecting customers to serve
• Divides the market into segments of
customers. (market segmentation ) and
selecting which segments it will go after
(target marketing).
• Company knows it cannot serve
everyone, hence it tries to select
customers that it can sell well and
profitable.
• Marketing managers decide which
customers to target & the level, timing
and nature of their demand.
2. Choosing a Value Proposition
• Company must decide how it will serve
targeted customers- how it will
differentiate and position itself from others
in the marketplace.
• A company’s value propositions are its
values and benefits it promises to deliver.
• Example- Nokia- “Connecting ppl-
anywhere, anytime.”, Apple- “Touching is
believing”
• Value prepositions differentiate one brand
from another.
Marketing Management
Orientations
• Marketing management design
strategies that will build profitable
relationship with targeted customers.
• 5 concepts under which organizations
design and carry out marketing
strategies.
1. The Production concept- The idea that
consumers will favor products that are
available and highly affordable & that the
org should therefore focus on improving
production and distribution effectively.
Example- computer maker Lenovo dominates
the highly competitive, price-sensitive
Chinese PC market through low labor costs,
high production efficiency and mass
distribution.
2. The Product Concept
• Idea that consumers will favor products
that offer most quality, performance and
features and that the organization should
therefore devote its energy to making
continuous product improvement.
• Product quality and improvement are
important but focusing only on the
company’s products can lead to myopia.
3. The selling Concept
• Idea that consumers will not buy enough of
the firm’s products unless it undertakes a
large-scale selling and promotion effort.
• Usually practiced with unsought goods-
those that buyers do not normally think of
buying such as insurance or blood donations.
• Takes and inside-out view that focuses on
existing products and heavy selling.
• Aim is to sell what the company makes
rather than making what the customer
wants.
4. The Marketing concept
• Idea holds that achieving organizational goals
depends on knowing the needs and wants of
target markets and delivering the desired
satisfaction better than competitors do.
• Instead of a product- centered “make and
sell” philosophy, the marketing concept is
customer-centered “sense and respond”
philosophy.
• Takes an outside-in view that focuses on
satisfying customer needs as a path to profits.
5. The Societal Marketing Concept
• The idea that a company’s marketing
decisions should consider consumer’s
wants, the company’s requirements,
consumer’s long-run interests, and
society’s long-run interests.
• Example- Bottled water industry.
• Companies should balance 3
considerations in setting their marketing
strategies: company’s profits, consumer
wants and society’s interest.
C. Preparing An Integrated Marketing
Plan & Program
• The company’s marketing strategy outlines
which customers the company will serve and
how it will create value for these customers.
• The marketing program consists of firms’s
marketing mix, the set of marketing tools
the firm uses to implement its marketing
strategy.
• Marketing mix tools are classified into 4
groups called Ps of marketing: Product, price,
place and promotion.
• To deliver value preposition, the firm
must first create a need-satisfying
market offering (product).
• It must decide how much it will charge
(price) and how it will be made
available to targeted customers (place)
• Finally must communicate with target
customers about the offerings and
persuade them of its merits
(promotion).
THANK YOU
UNNATI SHAH

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Marketing

  • 1.
  • 2. • Marketing is managing profitable customer relationship. • The twofold goal of marketing- Attract new customers by promising superior value and to keep and grow current customers by delivering satisfaction.
  • 3. • Marketing is a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others. • Hence, marketing is a process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return.
  • 4. Marketing Process Understand the market place & customer needs and wants Design a customer- driven marketing strategy Construct an integrated marketing program that delivers superior value Build profitable relationship and create customer delight Capture value from customers to create profits and customer equity
  • 5. Simple 5 Step Model Of Marketing Process • In the first 4 steps companies work to understand consumers, create customer values and build strong customer relationship. • In the final step, companies reap the rewards of creating superior customer value, by in turn capturing profits and long-term consumer equity.
  • 6.
  • 7. A. Understanding Marketplace And Customer Needs 5 core customer and market concepts. 1. Needs, wants and demands • Needs- States of deprivation. Includes physical, social and individual needs. These are not created by the marketers, but already existing. • Wants- Are the form human needs take as shaped by culture and individual personality. • Example- when hungry, a person wants specific roti and rice from specific places. • Demands- Human wants that are backed by buying power.
  • 8. 2. Market offerings- Consumers needs & wants are fulfilled through market offerings. • Some combination of products, services, information or experiences offered to a market to satisfy a need or a want is market offerings. • Market offerings are not limited to just physical products but also to services likes- banking, air travel, hotel stay, taxi etc.
  • 9. • Marketing myopia- the mistake sellers make of paying more attention to the specific products they offer than to the benefits and experiences produced by these products. • They focus on only the existing customer wants and lose sight of the underlying needs. • These sellers have a problem if a new product comes along that serves the needs better or less effectively. • The customer will have the same need but will want new product.
  • 10. 3. Customer Value and Satisfaction- • Customers form expectations about the value and satisfaction that various market offering will deliver and buy accordingly. • Satisfied customers buy again and tell others about their good experiences. • Dissatisfied customers often switch to competitors and disparage the product to others.
  • 11. 4. Exchanges and Relationships- • Marketing occurs when ppl decide to satisfy their needs and wants through exchange relationships. • Exchange is the act of obtaining a desired object from someone by offering something in return.
  • 12. 5. Markets- • Concept of exchange leads to concept of market. • Market is a set of all potential buyers of a product or service. • Marketing means managing markets to bring about profitable customer relationship.
  • 13. • Sellers search for buyers, identify needs, design good market offerings, set prices, promotes and store and deliver. • Marketing activities like- consumer research, product development, communication, distribution, pricing and services are carried. • Even buyers carry marketing, in search of products.
  • 14. B. Designing A Customer- Driven Marketing Strategy • After understanding consumers and the marketplace, marketing management designs customer driven marketing strategy. • Marketing Management is the art & science of choosing target market and building profitable relationship with them. • Marketing manager’s aim to find, attract, keep and grow target customers by creating, delivering and communicating superior customer value.
  • 15. • For a winning marketing strategy, the marketing manager must answer 2 important questions. 1. What customers will we serve (our target market)? 2. How can we serves these customers better ( our value proposition) ? • Marketing management is customer management and demand management.
  • 16. 1. Selecting customers to serve • Divides the market into segments of customers. (market segmentation ) and selecting which segments it will go after (target marketing). • Company knows it cannot serve everyone, hence it tries to select customers that it can sell well and profitable. • Marketing managers decide which customers to target & the level, timing and nature of their demand.
  • 17. 2. Choosing a Value Proposition • Company must decide how it will serve targeted customers- how it will differentiate and position itself from others in the marketplace. • A company’s value propositions are its values and benefits it promises to deliver. • Example- Nokia- “Connecting ppl- anywhere, anytime.”, Apple- “Touching is believing” • Value prepositions differentiate one brand from another.
  • 18. Marketing Management Orientations • Marketing management design strategies that will build profitable relationship with targeted customers. • 5 concepts under which organizations design and carry out marketing strategies.
  • 19.
  • 20. 1. The Production concept- The idea that consumers will favor products that are available and highly affordable & that the org should therefore focus on improving production and distribution effectively. Example- computer maker Lenovo dominates the highly competitive, price-sensitive Chinese PC market through low labor costs, high production efficiency and mass distribution.
  • 21. 2. The Product Concept • Idea that consumers will favor products that offer most quality, performance and features and that the organization should therefore devote its energy to making continuous product improvement. • Product quality and improvement are important but focusing only on the company’s products can lead to myopia.
  • 22. 3. The selling Concept • Idea that consumers will not buy enough of the firm’s products unless it undertakes a large-scale selling and promotion effort. • Usually practiced with unsought goods- those that buyers do not normally think of buying such as insurance or blood donations. • Takes and inside-out view that focuses on existing products and heavy selling. • Aim is to sell what the company makes rather than making what the customer wants.
  • 23.
  • 24. 4. The Marketing concept • Idea holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfaction better than competitors do. • Instead of a product- centered “make and sell” philosophy, the marketing concept is customer-centered “sense and respond” philosophy. • Takes an outside-in view that focuses on satisfying customer needs as a path to profits.
  • 25.
  • 26. 5. The Societal Marketing Concept • The idea that a company’s marketing decisions should consider consumer’s wants, the company’s requirements, consumer’s long-run interests, and society’s long-run interests. • Example- Bottled water industry.
  • 27. • Companies should balance 3 considerations in setting their marketing strategies: company’s profits, consumer wants and society’s interest.
  • 28. C. Preparing An Integrated Marketing Plan & Program • The company’s marketing strategy outlines which customers the company will serve and how it will create value for these customers. • The marketing program consists of firms’s marketing mix, the set of marketing tools the firm uses to implement its marketing strategy. • Marketing mix tools are classified into 4 groups called Ps of marketing: Product, price, place and promotion.
  • 29. • To deliver value preposition, the firm must first create a need-satisfying market offering (product). • It must decide how much it will charge (price) and how it will be made available to targeted customers (place) • Finally must communicate with target customers about the offerings and persuade them of its merits (promotion).