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Marketing
Creating and Capturing Customer Value
W. Rofianto
Marketing Defined
The process by which companies create value for
customers and build strong customer relationships in
order to capture value from customers in return.(Kotler & Amstrong, 2012)
Needs - states of felt deprivation
Including physical needs for food, social needs for belonging and
individual needs for self-expression. i.e. I am thirsty.
Wants - form that a human need takes
Shaped by culture and individual personality. i.e. I want a Coca-Cola.
Demands - human wants backed by buying power.
i.e. I have money to buy a Coca-Cola.
Needs, Wants, and Demands
Need Is A Very Subjective Word
Marketing Management Orientations
Production
concept
Product
concept
Selling
concept
Marketing
concept
Societal
concept
production
and
distribution
efficiency
continuous
product
improvements
large scale
selling and
promotion
effort
Make and Sell
Selling and Marketing Concepts Contrasted
The Societal Marketing Concept
Consumer
Short-run Wants
Vs Consumer
Long-run Welfare
The societal marketing concept holds that marketing strategy
should deliver value to customers in a way that maintains or
improves both the consumer’s and society’s well-being.
Perceived Value
Customer’s evaluation of the difference
between benefits & costs.
The relationship between benefits and sacrifice necessary to obtain those benefits.
Customers often do not judge values and costs accurately or objectively.
Customer Value
• The feeling that a product met or exceeded
the customer’s expectations.
• Product’s perceived performance relative to
customer’s expectations.
Customer Satisfaction
The Changing Marketing Landscape
The Uncertain Economic Environment
Rapid Globalization
Sustainable Marketing
The Growth of Not-for-Profit Marketing
The Digital Age
What is Marketing?
Marketing is the activity, set of institutions, and processes for
creating, communicating, delivering, and exchanging
offerings that have value for customers, clients, partners,
and society at large.
(American Marketing Association’s official definition of marketing,
Approved July 2013)
Marketing Defined Revisited
Marketing Strategies and the Marketing Mix
Marketing Strategies and the Marketing Mix
The Four Cs
Segmentation, Targeting, positioning
The act of designing
a company’s offering and image
to occupy a distinctive place
in the minds of the target market.
Positioning
Company (Product)
Target Customers Key Benefit Value Proposition
Volvo(station wagons)
Safety-conscious upscale families
Durabilityand safety
The safest, most durable wagon in which your family can ride.
Domino’s (pizza)
Convenience-minded pizza lovers
Delivery speed and good quality
A good hot pizza, delivered promptly to your door, at a moderate price.
Business has only two basic functions
marketing and innovation.
(Peter Drucker )