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Marketing: ManagingProfitable Customer
Relationships
A Global PerspectiveA Global Perspective
11
Philip KotlerPhilip KotlerGary ArmstrongGary ArmstrongSwee Hoon AngSwee Hoon Ang
Siew Meng LeongSiew Meng LeongChin Tiong TanChin Tiong Tan
Oliver Yau HonOliver Yau Hon--MingMing
PowerPoint slides adapted byPeggy Su
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1-2Copyright 2009 Pearson Education South Asia Pte Ltd
Learning Objectives
After studying this chapter, you should be able to:
1. Define marketing and outline the steps in the marketingprocess
2. Explain the importance of understanding customers and the
marketplace, and identify the five core marketplace concepts
3. Identify the key elements of a customer-driven marketingstrategy and discuss the marketing managementorientations that guide marketing strategy
4. Discuss customer relationship management, and identifystrategies for creating value for customers and capturingvalue from customers in return
5. Describe the major trends and forces that are changing themarketing landscape in this age of relationships
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1-3Copyright 2009 Pearson Education South Asia Pte Ltd
ChapterConcepts
1. What Is Marketing?
2. Understanding the Marketplace and Customer Needs
3. Designing a Customer-Driven Marketing Strategy
4. Preparing an Integrated Marketing Plan and Program5. Building Customer Relationships
6. Capturing Value from Customers
7. The New Marketing Landscape
8. So, What Is Marketing? Pulling It All Together
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What Is Marketing?
Marketing Defined
Marketing is the process bywhich companies create value
for customers and build strongcustomer relationships tocapture value from customersin return.
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Marketing Process
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Create customer driven
marketing strategy
Construct a marketing
program that deliverssuperior value
Build profitable
relationships & createcustomer delight
Capture value from
customers to create profits
& customer quality
Understand the
marketplace and
customers needs/wants
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Understanding the Marketplace
andC
ustomer NeedsCustomer Needs, Wants, and Demands
Needs are states of deprivation:
Physicalfood, clothing, warmth, safety
Socialbelonging and affection
Individualknowledge and self-expression
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Customer Needs, Wants, and Demands
Wants are the form that needs take as theyare shaped by culture and individualpersonality.
Demands are wants backed bybuying power.
Understanding the Marketplace
andC
ustomer Needs
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Market OfferingsProducts, Services, andExperiences
Market offerings are some combination ofproducts, services, information, orexperiences offered to a market to satisfy aneed or want.
Understanding the Marketplace
andC
ustomer Needs
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Market OfferingsProducts, Services, andExperiences
Marketing myopia is focusing only onexisting wants and losing sight of underlyingconsumer needs.
Exchange is the act of obtaining a desired
object from someone by offering somethingin return.
Understanding the Marketplace
andC
ustomer Needs
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Customer Value and Satisfaction
Expectations
Customers
Value and satisfaction
Marketers
Set the right level of expectations
Not too high or too low
Understanding the Marketplace
andC
ustomer Needs
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Exchanges and Relationships
Exchange is the act of obtaining a desiredobject from someone by offering something in
return.
Relationships consist of actions to build andmaintain desirable relationships.
Understanding the Marketplace
andC
ustomer Needs
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Markets are the set of actual and potentialbuyers of a product.
Marketing system consists of all of the actors
(suppliers, company, competitors,intermediaries, and end users) in the systemwho are affected by major environmentalforces.
Demographic
Economic
Physical
Understanding the Marketplace
andC
ustomer Needs
Technological
Political-legal
Socio-cultural
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Designing a Customer-Driven
Marketing StrategyMarketing Management
Marketing management is the art andscience of choosing target markets andbuilding profitable relationships with them.
What customers will we serve?
How can we best serve these customers?
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Selecting Customers to Serve
Market segmentation: Dividing the
markets into segments of customers Target marketing: Which segments to
go after
Designing a Customer-Driven
Marketing Strategy
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MARKET SEGMENTATION
Advantages
Company Efficiency in Distribution and
Communication Customer Focus and Specialization
Competitive Pressure Reduction
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CHOICE OF SEGMENTATION
Market Size
Growth trend
Homogeneity
Responsiveness
Purchase Authority
Awareness Cost
Loyalty Level
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CASE STUDY 1:
JEANS MARKET SEGMENTATION
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JEANS MARKET SEGMENTATION
UTILITARIAN JEANS CUSTOMER (26%)
MAINSTREAM TRADITIONALIST (22%)
CLASSIC INDEPENDENTS (21%)
TRENDY / CASUAL (19%)
PRICE SHOPPER (12%)
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JEANS CONSUMER SEGMENT 1
UTILITARIAN JEANS CUSTOMER
The Levi Blue Jeans Loyalist
He wears jeans for work and play
He doesnt care much about style
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JEANS CONSUMER SEGMENT 2
MAINSTREAM TRADITIONALIST
This man is older
He has quite a conservative taste in clothing
He likes to shop with his wife
He like to shop in department stores
He favors polyester fabrics
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JEANS CONSUMER SEGMENT 3
CLASSIC / INDEPENDENT
Late 20s / early 30s
Clothes are really important to him
He spends more on clothes than any other group
He likes to shop alone
He likes to shop at specialty stores
He favors traditional styles
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JEANS CONSUMER SEGMENT 4
Trendy / Casual Customer
Very Interested in high fashion
He likes to be noticed
He is usually younger
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JEANS CONSUMER SEGMENT 5
PRICE SHOPPER
This is an older customer whose main goal is price
He shops department store sales and discount stores
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Marketing Management Orientations
The marketing concept is the idea
that achieving organizational goalsdepends on knowing the needs andwants of the target markets anddelivering the desired satisfactions
better than competitors do.
Designing a Customer-Driven
Marketing Strategy
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Selecting Customers to Serve
De-marketing
Marketing to reduce demand temporarilyor permanently
The aim is not to destroy demand but to
reduce or shift it.
Designing a Customer-Driven
Marketing Strategy
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Selecting Customers to Serve
Marketing management is:
Customer management
Demand management
Designing a Customer-Driven
Marketing Strategy
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Choosing a Value Proposition
The value proposition is the set of
benefits or values a company promisesto deliver to customers to satisfy theirneeds.
Designing a Customer-Driven
Marketing Strategy
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Marketing Management Orientations
Production concept
Product concept
Selling concept
Marketing concept
Societal concept
Designing a Customer-Driven
Marketing Strategy
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Marketing ManagementOrientations
The production concept isthe idea that consumers willfavor products that areavailable or highly
affordable.
Designing a Customer-Driven
Marketing Strategy
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Marketing Management Orientations
The product concept is the idea that
consumers will favor products that offerthe most quality, performance, andfeatures for which the organizationshould therefore devote its energy to
making continuous improvements.
Designing a Customer-Driven
Marketing Strategy
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Marketing Management Orientations
The selling concept is the idea that
consumers will not buy enough of thefirms products unless it undertakes alarge scale selling and promotioneffort.
Designing a Customer-Driven
Marketing Strategy
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Marketing Management Orientations
The societal marketing concept is
the idea that a company should makegood marketing decisions byconsidering consumers wants, thecompanys requirements, consumers
long-term interests, and societys long-run interests.
Designing a Customer-Driven
Marketing Strategy
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Preparing an Integrated
Marketing Plan and Program
Marketing Mix
The marketing mix is the set of tools
(four Ps) the firm uses to implement itsmarketing strategy:
Product
Price Promotion
Place
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ASPECTS OF THE MARKETING MIX
PRODUCT PRICE PLACE PROMOTION
Functionality
Appearance
Quality
Packaging
Brand
Warranty
Service/Support
List Price
Discounts
Allowances
Financing
LeasingOptions
ChannelMembers
ChannelMotivation
MarketCoverage
Locations
Logistics
ServiceLevels
Advertising
Personal
SellingPublicRelations
Message
MediaBudget
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MARKETING MIX WILKINS
4Ps WILKINS
PRODUCT DISTILLED WATER
DISPENSER 14,300.00
PLACE OWN FLEET
DIRECT SELLING
DOCTORS CAMPAIGN
PROMO FREE BOTTLE FORREFERRING NEWCUSTOMERS
PRICE 120 / 5 GALLON
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Integrated Marketing Program
An integrated marketing program is
a comprehensive plan thatcommunicates and delivers theintended value to chosen customers.
Preparing an Integrated
Marketing Plan and Program
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Customer Relationship Management(CRM)
Customer relationship management
is the overall process of building andmaintaining profitable customerrelationships by delivering superiorvalue and satisfaction.
Building Customer Relationships
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Customer Relationship Management (CRM)
Customer perceived value is the differencebetween total customer value and totalcustomer cost.
Customer satisfaction is the extent towhich a products perceived performancematches a buyers expectations.
Building Customer Relationships
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Customer Relationship Management (CRM)Customer Relationship Levels and Tools
Basic relationship
Full relationships Frequency marketing programs
Club marketing programs
Building Customer Relationships
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The Changing Nature ofCustomerRelationships
Relating with more carefully selected customersuses selective relationship management to target
fewer, more profitable customers.
Relating for the long term uses customer relationshipmanagement to retain current customers and buildprofitable, long-term relationships.
Relating directly uses direct marketing tools(telephone, mail order, kiosks, Internet) to makedirect connections with customers.
Building Customer Relationships
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Partner Relationship Management
Partner relationship management refersto working closely with partners in othercompany departments and outside thecompany to jointly bring greater value tocustomers.
Building Customer Relationships
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Partner Relationship Management
Partners inside the company is everyfunction area interacting with customers.
Electronically Cross-functional teams
Partners outside the company is howmarketers connect with their suppliers, channel
partners, and competitors by developingpartnerships.
Building Customer Relationships
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Partner Relationship Management
The supply chain is a channel thatstretches from raw materials to componentsto final products to final buyers.
Supply management
Strategic partners
Strategic alliances
Building Customer Relationships
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Creating Customer Loyalty and Retention
Customer lifetime value is the value of theentire stream of purchases that the customerwould make over a lifetime of patronage.
Capturing Value from Customers
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Growing Share ofCustomer
Share of customeris the portion of thecustomers purchasing that a company getsin its product categories.
Capturing Value from Customers
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Building Customer Equity
Customer equity is the total combinedcustomer lifetime values of all of thecompanys customers.
Capturing Value from Customers
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Building Customer Equity
Building the right relationships with theright customers involves treatingcustomers as assets that need to bemanaged and maximized.
Different types of customers require differentrelationship management strategies
Build the rightrelationship with the rightcustomers
Capturing Value from Customers
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Major Developments
Digital age
Globalization
Ethics and social responsibility
Not-for-profit marketing
The New Marketing Landscape
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The New Digital Age Recent technology has had a major impact on the
ways marketers connect with and bring value to theircustomers
Market research
Learning about and tracking customers
Create new customized products
Distribution
Communication
Video conferencing
Online data services
The New Marketing Landscape
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The New Digital Age
Internetcreates marketplacesand marketspaces
Information
Entertainment
Communication
The New Marketing Landscape
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Rapid Globalization
The world is smaller.
Think globally, act locally.
The New Marketing Landscape
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The Call for More Ethics and SocialResponsibility
Marketers are being called upon to takegreater responsibility for the social and
environmental impact of their actions in aglobal economy.
The New Marketing Landscape
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The Call for More Ethics and SocialResponsibility
Social marketing campaigns encourageenergy conservation and concern for the
environment or discourage smoking,excessive drinking, and drug use.
The New Marketing Landscape
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The Growth for Not-for-Profit Marketing
Colleges
Hospitals
Museums
Zoos
Orchestras
Religious groups
The New Marketing Landscape