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1.1 To understand
a) the evolution of the marketing concept,
b) the most prominent tools used to implement
marketing strategies,
c) the relationship between value and customer
retention, and
d) the objectives of socially responsible marketing.
Consumer Research
Market Segmentation, Targeting and
Positioning
The Marketing Mix (4 Ps)
Product or service
Price
Place
Promotion
Examples:
Interactive and novel communication channels
Customizing products and promotional
messages
Better prices and distribution
Successful Relationships
High level of
Customer
Customer value customer
retention
satisfaction
Value, Satisfaction,
Defined as the ratio
and Retention between the customers
Customer Value perceived benefits and the
Customer resources used to obtain
Satisfaction those benefits
Customer Perceived value is relative
Retention and subjective
Developing a value
proposition is critical
How does
McDonalds create
value for the
consumer?
How do they
communicate this
value?
Value, Satisfaction,
The individual's perception
and Retention
of the performance of the
Customer product or service in
Value relation to his or her
Customer expectations.
Satisfaction Customer groups based on
Customer loyalty include loyalists,
Retention apostles, defectors,
terrorists, hostages, and
mercenaries
Copyright 2015 Pearson Education, Inc. publishing as Prentice Hall Slide 22 of 26
Successful Relationships
For Discussion:
Examples where brands used technology to
engage consumers/enhance customer
relationships.
Examples where technology was used to
add value to the consumer.
Psychology
Sociology Communication
Anthropology
Psychology
Motivation Research
Sociology
Consumer
Economics Behavior
as a Behavioral Science
Field of Study
Anthropology
Medicine
Interpretivism
History