Marketing: Managing
Marketing is the process by which companies
create value for customers and build strong
customer relationships to capture value from
Understand the marketplace and customer wants
Construct a marketing plan that delivers superior
Build profitable relationships and create customer
Capture value from customers to create profit and
Needs are states of deprivation
Physical—food, clothing, warmth, safety
Social—belonging and affection
Individual—knowledge and self-expression
Wants are the form that needs take as they
are shaped by culture and individual
Demands are wants with by buying power
Market Offerings—Products, Services, and
Market offerings are some combination of
products, services, information, or
Marketing myopia is focusing only on existing
wants and losing sight of underlying
object from someone by offering something
How do customers choose which product to buy?
They form expectations about value and satisfaction
Satisfied customers tell others
Dissatisfied switch to competitors and discourage
others from buying it
Markets are the set of actual and
potential buyers of a product who have
a particular need or want
Relationships consist of actions to build
and maintain desirable relationships
building profitable relationships with them
What customers will we serve?
How can we best serve these customers?
Market segmentation: Dividing the markets
into segments of customers
Target marketing: Which segments to go
Why should I buy your brand rather than
How it will differentiate and position itself?
The value proposition is the set of
benefits or values a company promises
to deliver to customers to satisfy their
needs (‘Redbull gives winds’, ‘BMW The
ultimate driving machine’)
There are five alternative concepts under which org.
design and carry out their marketing strategies
consumers will favor products that are
available or highly affordable
will favor products that offer the most
quality, performance, and features for which
the organization should therefore devote its
energy to making continuous improvements
unless it undertakes a large scale selling and
better than competitors do
interests (e.g.. Re-cycling, smoking packs
with labels, unleaded petrol).
The marketing mix is the set of tools (four
Ps) the firm uses to implement its marketing
Customer relationship management is the
overall process of building and maintaining
profitable customer relationships by
delivering superior value and satisfaction
Customer Perceived value is the
difference between total customer value
and total customer cost.
Customer Satisfaction is the extent
to which a product’s perceived
performance matches a buyer's
refers to working closely with partners
in other company departments and
outside the company to jointly bring
Recent technology has had a major impact on the
ways marketers connect with and bring value to
Learning about and tracking customers
Internet—creates marketplaces
The world is smaller – unified market
Standardization of products, services,
communications in the global markets
Social marketing campaigns encourage
energy conservation and concern for the
environment or discourage smoking,
excessive drinking, and drug use
The Growth for Not-for-Profit Marketing
Chapter 7: A Summary of Tools
Chapter 9: Customer-Driven Teams (CDTs) .