Académique Documents
Professionnel Documents
Culture Documents
PRINCIPLE OF MARKETING
Chapter 01
2/27/2013
What Is Marketing?
Marketing is a process by which companies create value for customers and build strong customer relationships to capture value from customers in return
What Is Marketing?
The Marketing Process
1. 2. 3. 4. 5.
Understand the marketplace and customer wants and needs Design a customer-driven marketing strategy Construct a marketing plan that delivers superior value Build profitable relationships and create customer satisfaction Capture value from customers to create profit and customer equity
2/27/2013
What Is Marketing?
The Marketing Process
Physicalfood, clothing, warmth, safety Socialbelonging and affection Individualknowledge and self-expression
2/27/2013
Customer Needs, Wants, and Demands Wants are the form that needs take as they are shaped by culture and individual personality Demands are wants backed by buying power
2/27/2013
Market OfferingsProducts, Services, and Experiences Marketing myopia is focusing only on existing wants and losing sight of underlying consumer needs
Expectations
Customers
Marketers
2/27/2013
2/27/2013
Marketing management is the art and science of choosing target markets and building profitable relationships with them
What customers will we serve? How can we best serve these customers?
2/27/2013
Selecting Customers to Serve Market segmentation refers to dividing the markets into segments of customers Target marketing refers to which segments to go after
Selecting Customers to Serve Demarketing is marketing to reduce demand temporarily or permanently; the aim is not to destroy demand but to reduce or shift it.
2/27/2013
Production concept Product concept Selling concept Marketing concept Societal concept
2/27/2013
Marketing Management Orientations Production concept is the idea that consumers will favor products that are available or highly affordable
Marketing Management Orientations Product concept is the idea that consumers will favor products that offer the most quality, performance, and features that the organization should therefore devote its energy to making continuous improvements
10
2/27/2013
Marketing Management Orientations Selling concept is the idea that consumers will not buy enough of the firms products unless it undertakes a large scale selling and promotion effort
11
2/27/2013
12
2/27/2013
Marketing Mix The marketing mix is the set of tools (four Ps) the firm uses to implement its marketing strategy Product Price Promotion Place
4 Cs C1: Customer needs and wants C2: Cost to the customer C3: Convenience C4: Communication
13
2/27/2013
14
2/27/2013
Basic relationship Full partnerships Frequency marketing programs Club marketing programs
15
2/27/2013
16
2/27/2013
17
2/27/2013
Digital age Rapid globalization Ethics and social responsibility Not-for-profit marketing
18
2/27/2013
19
2/27/2013
20
2/27/2013
21
2/27/2013
22
2/27/2013
23
2/27/2013
Marketing information system (MIS) consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers
Assess the information needs Develop needed information Analyze information Distribute information
24
2/27/2013
MIS provides information to the companys marketing and other managers and external partners such as suppliers, resellers, and marketing service agencies
Characteristics of a good MIS balances the information users would like to have against what they need and what is feasible to offer
25
2/27/2013
26
2/27/2013
Disadvantages Incomplete information Wrong form for decision making Timeliness of information Amount of information Need for sophisticated equipment and techniques
27
2/27/2013
Marketing Research
Marketing research is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization
28
2/27/2013
29
2/27/2013
30
2/27/2013
Marketing Research
Developing the Research Plan
Research plan outlines sources of existing data and spells out the specific research approaches, contact methods, sampling plans, and instruments that researchers will use to gather data
31
2/27/2013
Secondary data consists of information that already exists somewhere, having been collected for another purpose Primary data consists of information gathered for the special research plan
Advantages
Disadvantages
Speed Cost Provides data that a company cannot collect on its own
32
2/27/2013
33
2/27/2013
To understand customers better To provide higher levels of customer service To develop deeper customer relationships To identify high-value customers
34
2/27/2013
35
2/27/2013
36