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    Chapter 1 POM 2020

    Uploaded by

    Hà Mint

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    © All Rights Reserved
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    Chapter 1 POM 2020

    Uploaded by

    Hà Mint
    25 views5 pages

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    © © All Rights Reserved

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    Copyright:

    © All Rights Reserved
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    25 views5 pages

    Chapter 1 POM 2020

    Uploaded by

    Hà Mint

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 5

    9/7/2020

    What is Marketing?

    Teaching team:
    Luu Thi Thao Nguyen
    Le Minh Hang

    Learning Objectives What is Marketing?


    After studying this chapter, you should be able to:
    1. Define marketing and outline the steps in the marketing Marketing is a process by which companies
    process create value for customers and build
    2. Explain the importance of understanding customers and strong customer relationships to capture
    the marketplace, and identify the five core marketplace
    concepts
    value from customers in return
    3. Identify the key elements of a customer-driven
    marketing strategy and discuss the marketing
    management orientations that guide marketing strategy
    4. Discuss customer relationship management, and
    identify strategies for creating value for customers and
    capturing value from customers in return
    1-3

    Step 1: Understanding the Marketplace


    Marketing Process
    and Customer Needs
    Customer Needs, Wants, and Demands

    Needs • States of deprivation

    Maslow’s hierarchy of needs

    1
    9/7/2020

    Understanding the Marketplace Understanding the Marketplace


    and Customer Needs and Customer Needs
    Customer Needs, Wants, and Demands Customer Needs, Wants, and Demands

    • Form that needs take as they are shaped


    Wants by culture and individual personality Demands • Wants backed by buying power

    Understanding the Marketplace Understanding the Marketplace


    and Customer Needs and Customer Needs
    Markets are the set of actual and
    • Market offerings are some
    combination of products, potential buyers of a product
    services, information, or
    experiences offered to a
    market to satisfy a need or
    want
    • Marketing myopia is
    focusing only on existing
    wants and losing sight of
    underlying consumer
    needs

    Step 2: Design a customer driven Designing a Customer-Driven


    marketing strategy Marketing Strategy
    Marketing Management Orientations

    SEGMENTATION DIFFERENTIATION

    Create Value

    TARGETING POSITIONING

    2
    9/7/2020

    Product concept

    Production concept

    Selling concept Marketing concept

    Selling vs. Marketing concept Societal marketing concept

    Starting
    point Focus Means Ends

    Push Existing Selling & Profit through


    Factory
    products Promoting sales volume

    Selling concept

    Pull
    Profit through
    Customer’ Integrated
    Market customer
    s needs marketing
    satisfaction

    Marketing concept

    3
    9/7/2020

    Step 3: Design integrated marketing Step 4: Building Customer


    program Relationships
    Customer Relationship Management (CRM)

    is the overall process of building and maintaining


    profitable customer relationships by delivering superior
    value and satisfaction.

    Customer Satisfaction
    Building Customer Relationships
    Customer Value and Satisfaction SATISFACTION

    Customer- Customer
    perceived value satisfaction

    • The difference • The extent to Expected


    between total which a
    Performance

    level
    customer value product’s
    and total perceived
    customer cost performance
    matches a
    buyer’s
    expectations DISSATISFACTION

    Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall

    Understanding the Marketplace Building Customer Relationships


    and Customer Needs Customer Relationship Levels
    Customer Value and Satisfaction
    Expectations
    Low
    Basic
    Relationships

    Marketers Customers Full


    • Set the right level of • Value and High
    Partnerships
    expectations satisfaction
    • Not too high or low

    4
    9/7/2020

    Step 5: Capturing value from customers Step 5: Capturing value from


    customers
    Customers’
    lifetime
    value
    Growing share of customer

    Share of customer:
    the portion of the
    customer’s
    purchasing that a
    company gets in its
    product categories

    Step 5: Capturing value from


    customers

    Building customer equity

    Customer equity:
    is the total combined customer
    lifetime values of all of the
    company’s customers

    How to study Marketing?

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