Lecture 1 PDF

Marketing I
Lecture 1
Winter Semester 2022/2023
Course Lecturers: Dr. Sara El-Deeb
Dr. Hadeer Hammad
Meet the Team
Sara El-Deeb Hadeer Hammad

Course Lecturer Course Lecturer
Sara.Eldeeb@guc.edu.eg Hadeer.shawky@guc.edu.eg
2
Course Assessment
Case Presentation: 5%
Quizzes: 5%
Group Assignment: 5%
Group Project: 25%
Midterm Exam: 20%
Final Exam: 40%
3
Chapter 1:
Marketing: Creating and
Capturing Customer Value
4
Agenda
Explain what is Design a customer- Build customer
Marketing driven stratgy relationships
1 3 5
2 4 6
Understand Prepare an integrated Capturing value

customer needs markteing plan from customers
5
“
Don’t Just teach your students to read.
Teach them to question what they read,
what they study. Teach them to doubt.
Teach them to think.
-Prof. Richard P. Feynman
6
Where do you see MARKETING in your daily life?
What do you think MARKETING is all about?
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What is Marketing?
Marketing is a process by which companies create value for customers

and build strong customer relationships to capture value from customers
in return.
8
What is Marketing?
The Marketing Process
Marketer Customer
Marketer 9
What is Marketing?
10
Understanding the Marketplace and Customer Needs
Customer Needs, Wants and Demands
•States of deprivation:
•Physical—food, clothing, warmth, safety
Needs •Social—belonging and affection
•Individual—knowledge and self-expression
•Form that needs take as they are shaped by

Wants culture and individual personality
Demands •Wants backed by buying power
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Customer Needs, Wants and Demands
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Customer Needs, Wants and Demands: Example
Are Needs Created by Marketers?
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Are needs created by Marketers?
19
Market Offerings: Products, Services and Experiences
Market offerings are some combination of products, services, information,

or experiences offered to a market to satisfy its needs or wants.
Marketing Myopia is the mistake of paying more attention to the specific
products a company offers by focusing on existing wants and losing sight of
underlying customer needs.
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21
Market Mypoia: Evolve or Die
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Customer Value and Satisfaction
Customers
• Value and satisfaction
Marketers
• Set the right level of expectations
• Not too high or low
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Exchanges and Relationships
Exchange is the act of obtaining a desired object from someone by offering

something in return.
Marketers aim at building desirable exchange relationships with consumers.

Marketers aim at building strong relationships by consistently delivering superior
customer value.
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A Market is the set of actual and potential buyers of a product.
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What is Marketing?
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Designing a Customer-driven Marketing Strategy
Marketing Management
Marketing management is the art and science of choosing target markets

and building profitable relationships with them.
⇾ What customers will we serve? “Target Market”

⇾ How can we best serve these customers? “Value Proposition”
By trying to serve all customers, marketers may not serve any customers well!
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Selecting Customers to Serve
Market segmentation refers to dividing the markets into segments of customers.
Target marketing refers to which segments to go after.
Demarketing is marketing to reduce the number of customers or shift demand

temporarily or permanently; the aim is not to destroy demand but to reduce or shift
it.
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Demarketing: Example
Prime shipping only for essentials
Recommendations were reduced
Cancelling subscriptions
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Demarketing: Example
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Choosing a Value Proposition
The value proposition is the set of benefits or values a company promises to

deliver to customers to satisfy their needs.
Value Propositions differentiates the brand from one another.

It answers the question “why should I buy your brand rather than the competitors?”
32
Marketing Management Orientations
Production Product Selling Marketing Societal

concept concept concept concept concept
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Production concept is the idea that consumers will favor products that are
available and highly affordable and that the organization should focus on
improving production and distribution efficiency.
Mass production
Risk: Marketing Myopia!
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Product concept is the idea that consumers will favor products that offer the most
quality, performance, and innovative features. An organization should therefore
devote its energy to making continuous product improvements.
Risk: Marketing Myopia
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Selling concept is the idea that consumers will not buy enough of the firm’s
products unless it undertakes a large scale selling and promotion effort.
Risk: Focus on making sales rather than building long-term relationships.

Risk: Focus on selling what the company makes rather than making what
consumers want.
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Marketing concept is the idea that achieving organizational goals depends on

knowing the needs and wants of the target markets and delivering the desired
satisfactions better than competitors do.
Instead of a product-centered “make and sell” philosophy, the marketing concept

is a customer-centered “sense and respond” philosophy. The job is to find the right
products for your customers.
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The Selling and Marketing Concepts Contrasted
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Choosing a Value Proposition
The societal marketing concept is the idea that a company’s marketing decisions
should consider consumers’ wants, the company’s requirements, consumers’
long-term interests, and society’s long-term interests.
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What is Marketing?
40
Preparing an Integrated Marketing Plan and Program
The Marketing mix is the set of tools (four Ps) the firm uses to implement its
marketing strategy. It includes product, price, promotion, and place.
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Preparing an Integrated Marketing Plan and Program
Integrated marketing program is a comprehensive plan that communicates and

delivers the intended value to chosen customers.
+
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What is Marketing?
43
Building Customer Relationships
Customer Relationship Management (CRM) is the overall process of building and

maintaining profitable customer relationships by delivering superior customer
value and satisfaction. It deals with acquiring, keeping and growing customers.
44
Relating with more carefully selected customers: Uses selective relationship

management to target fewer, more profitable customers
Relating more deeply and interactively by incorporating more interactive, two

way relationships through blogs, websites, online communities and social
networks.
Mercedes bye3melo interview le meen el
by3lhom we meen la2
Concept el vip costumers fl banks , el

costumer service le ba2y el nas byb2a nas
aghbeya m3ahom wara2a hafzenhom
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Relationship Building Blocks: Customer Value and Satisfaction
Customer- perceived Value Customer Satisfaction
The customers’ evaluation The extent to which the

of the difference between product’s perceived
the total value and total performance matches a
costs of a market offering buyer’s expectations
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What is Marketing?
47
Capturing Value from Customers
Creating Customer Loyalty and Retention
Customer lifetime value is the value of the entire stream of purchases that the
customer would make over a lifetime of patronage.
Companies are realizing that losing a customer means losing more than a single
transaction. It means losing the entire stream of purchases that the customer
would make over a lifetime.
48
Stew Leonard, who operates a highly profitable four-

store supermarket in New York, says that he sees
$50,000 flying out of his store every time he sees a
dissatisfied customer. Why?
Because his average customer spends about $100 a
week, shops 50 weeks a year, and remains in the area
for about 10 years.
For him:
Rule#1 customer is always right.
Rule #2 if the customer is ever wrong, re-read rule #1.
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Customer equity is the total combined customer lifetime values of all of the
company’s customers.
It is a better measurement of firms’ performance than current sales and
market share. Sales and market share reflect the past, but the customer
equity suggest the future.
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So, What is Marketing?
Putting it All Together!
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The Changing Marketing Landscape
Digital and social media marketing involves using

digital marketing tools such as:
websites, social media, mobile ads and apps, online
videos, e-mail, and blogs that engage consumers
anywhere, at any time, via their digital devices.
52
Thanks!
Any questions?
53

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Marketing I

Sara El-Deeb Hadeer Hammad

Midterm Exam: 20%

Final Exam: 40%

Understand Prepare an integrated Capturing value

Marketing is a process by which companies create value for customers

•Form that needs take as they are shaped by

Demands •Wants backed by buying power

Are Needs Created by Marketers?

Market offerings are some combination of products, services, information,

Exchange is the act of obtaining a desired object from someone by offering

Marketers aim at building desirable exchange relationships with consumers.

A Market is the set of actual and potential buyers of a product.

Marketing management is the art and science of choosing target markets

⇾ What customers will we serve? “Target Market”

Market segmentation refers to dividing the markets into segments of customers.

Target marketing refers to which segments to go after.

Demarketing is marketing to reduce the number of customers or shift demand

Prime shipping only for essentials

Recommendations were reduced

The value proposition is the set of benefits or values a company promises to

Value Propositions differentiates the brand from one another.

Production Product Selling Marketing Societal

Risk: Marketing Myopia

Risk: Focus on making sales rather than building long-term relationships.

Marketing concept is the idea that achieving organizational goals depends on

Instead of a product-centered “make and sell” philosophy, the marketing concept

Integrated marketing program is a comprehensive plan that communicates and

Customer Relationship Management (CRM) is the overall process of building and

Relating with more carefully selected customers: Uses selective relationship

Relating more deeply and interactively by incorporating more interactive, two

Concept el vip costumers fl banks , el

Customer- perceived Value Customer Satisfaction

The customers’ evaluation The extent to which the

Stew Leonard, who operates a highly profitable four-

Digital and social media marketing involves using

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