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Chapter One

Creating and Capturing CustomerValue

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Creating and Capturing Customer Value

. !e"ine mar#eting and outline the steps in themar#eting process

2. $nderstanding the %ar#etplace and Customer &eeds

'. !esigning a Customer(!ri)en %ar#eting *trategy

+. Preparing an Integrated %ar#eting Plan and Program

. -uilding Customer elationships

Topic Outline

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1. What Is Marketing?

Marketingis a process by /hich

companies create )alue "or customers

and build strong customerrelationships to capture )alue "rom

customers in

return

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2. !nderstanding the Marketplaceand Customer "eeds

Customer needs, /ants, and demands

%ar#et o""erings

Customer Value and satis"action

E1changes and relationships

%ar#ets

Core Concepts

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2. !nderstanding the Marketplaceand Customer "eeds

Customer "eeds$ Wants$ and %emands

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Market o''erings are some

combination o" products, ser)ices,

in"ormation, or e1periences o""ered to amar#et to satis"y a need or /ant

Marketing m(opia is "ocusing only on

e1isting /ants and losing sight o"underlying consumer needs

2. !nderstanding the Marketplace

and Customer "eeds

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and Customer "eedsCustomer Value and *atis'action+,pectations

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+,changeis the act o" obtaining adesired obect "rom someone by

o""ering something in return


and Customer "eeds

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Marketsare the set o" actual and

potential buyers o" a product or ser)ice


and Customer "eeds

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3. %esigning a Customer-%ri0en

Marketing *trateg(

Marketing management is the art and

science o" choosing target mar#ets and

building pro"itable relationships /ith

them

3 4hat customers /ill /e ser)e5

3 Ho/ can /e best ser)e these customers5

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3. %esigning a Customer-%ri0enMarketing *trateg(

Market segmentation re"ers to di)iding

the mar#ets into segments o" customersTarget marketing re"ers to /hich

segments to go a"ter

*electing Customers to *er0e

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%emarketing is mar#eting to reduce

demand temporarily or permanently6 the

aim is not to destroy demand but to

reduce or shi"t it

*electing Customers to *er0e

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The 0alue proposition is the set o"

bene"its or )alues a company promisesto deli)er to customers to satis"y their

needs

Choosing a Value roposition

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Marketing Management Orientations

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roduction concept is the idea that

consumers /ill "a)or products that area)ailable or highly a""ordable

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roduct concept is the idea that

consumers /ill "a)or products that o""erthe most 7uality, per"ormance, and

"eatures. 8rganiations should

there"ore de)ote its energy to ma#ingcontinuous product impro)ements.

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*elling concept is the idea that

consumers /ill not buy enough o" the

"irm:s products unless it underta#es a

large scale selling and promotion e""ort

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Marketing concept is the idea that

achie)ing organiational goals dependson #no/ing the needs and /ants o" the

target mar#ets and deli)ering the

desired satis"actions better than

competitors do

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*ocietal marketing concept is the idea

that a company should ma#e good

mar#eting decisions by considering

consumers: /ants, the company:s

re7uirements, consumers: long(term

interests, and society:s long(runinterests

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The marketing mi, is the set o" tools

;"our Ps< the "irm uses to implement its

mar#eting strategy. It includes product,price, promotion, and place.

Integrated marketing program is a

comprehensi)e plan that communicatesand deli)ers the intended )alue to

chosen customers.

. reparing an Integrated

Marketing lan and rogram

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#. uilding Customerelationships

=he o)erall process o" building and

maintaining pro"itable customer

relationships by deli)ering superior

customer )alue and satis"action

Customer elationship Management 4CM5

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uilding Customer elationshipselationship uilding locks6 Customer Value and *atis'action

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