class 1.pptx

7/29/2019 class 1.pptx

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PRINCIPLES


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What are they doing?

What are their needs?


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What is Marketing ?

Old sense: making a saletelling and selling

New sense: satisfyingcustomer needs


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What Is Marketing?

Marketing is a process by whichcompanies create value forcustomers and build strongcustomer relationships to capture

value from customers in return


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Needs- Wants- Demands

States of deprivation

Physicalfood, clothing, warmth, safety

Socialbelonging and affection

Individual

knowledge and self-expression

Needs

Form that human needs take as they areshaped by culture and individual personalityWants

Human wants backed by buying power

Demands


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Product and Service:

Product: Anything that can be offered to a market for attention,acquisition, use, or consumption that might satisfy a want orneed.

Service: Any activity or benefit that one party can offer toanother that is essentially intangible and does not result in theownership of anything.


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Value - Satisfaction

Value

The difference between thevalues the customer gainsfrom owning and using a

product and the cost ofobtaining the product.

Satisfaction

The extent to which aproducts perceivedperformance matches abuyers expectations


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Customer Value and Satisfaction

Expectations:

Customers

Value and

satisfaction

Marketers Set the right level of

expectations Not too high or low


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Exchange - Transaction - Relationships

Exchange is theact of obtaining adesired object

from someone byofferingsomething inreturn

Transaction is atrade between two

parties that

involves at leasttwo things ofagreement, and a

place ofagreement.

The process ofcreating,maintaining, and

enhancing strong,value-ladenrelationships withcustomers andother stakeholders.


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Markets- Marketing

Markets

A market is the set of actual andpotential buyers of a product.

These buyers share a particularneed or want that can be satisfiedthrough exchange relationships.

Marketing

Marketing means managingmarkets to bring about

profitable customerrelationships.


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A simple marketing system:

Industry

(a collection

of sellers)

Market

(a collection

of buyers)

Products-service

Money

Communication

Information


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Main actors and forces in a modern

marketing system:

SuppliersEnd user

market

Company

(marketer)

Competitors

Marketing

intermediaries

Environment


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Marketing Orientations:

ProductionConcept

Product Concept

Selling

Concept

Marketing

Concept

Societal Marketing

Concept


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Production Concept:

Production concept is the idea thatconsumers will favor products thatare available or highly affordable


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Product Concept:

Product concept is the idea that consumers will favorproducts that offer the most quality, performance, andfeatures. Organizations should therefore devote its energyto making continuous product improvements.


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Selling Concept:

Selling concept is theidea that consumerswill not buy enough ofthe firms productsunless it undertakes alarge scale selling and

promotion effort


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Marketing concept:

Marketing concept is the idea thatachieving organizational goals dependson knowing the needs and wants of the

target markets and delivering thedesired satisfactions better thancompetitors do.


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The selling and marketing concepts

contrasted:

Focus

Factory

Starting

pointMeans Ends

Existingproducts Selling andpromoting Profit throughsales volume

MarketCustomer

needs

Integrated

Marketing

Profit through

Customer

satisfaction

The selling concept

The marketing concept


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Societal marketing:

Societal marketing concept isthe idea that a company shouldmake good marketing decisions

by considering consumerswants, the companysrequirements, consumers long-

term interests, and societyslong-run interests


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Societal Marketing concept:

Social

marketing

concept

Society

(Human welfare)

Customers

(Wants satisfaction)

Company

(Profits)

Three considerations underlying the Societal marketing concept


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Marketing Today:

Connecting technologies

Computer

Information

CommunicationTransportation

Connections with

Marketing partners

Connections with

World around us

Connections with

Customers


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Marketing connections

Connections with

Customer

Connecting moreselectively

Connecting forlife

Connectingdirectly

Connections with

Marketing partner

Connectinginside thecompany

Connecting withoutside partners

Connections with the

world around us

Globalconnections

Connections withvalues And

responsibility

Broadenedconnections


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Important Concepts:

are some combination ofproducts, services,information, or experiences

offered to a market tosatisfy a need or want

Market

offerings

focusing only on existingwants and losing sight ofunderlying consumer needs

Marketingmyopia


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Building Customer Relationships

Customerperceived value

The difference betweentotal customer value and

total customer cost

Customersatisfaction

The extent to which aproducts perceived

performance matches abuyers expectations


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The New Marketing Landscape

Digital ageRapid

globalization

Ethics andsocialresponsibility

Not-for-profitmarketing


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Documents

class 1.pptx