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Role of Customer
Customer relationship management Personalization
Limited Relationships
Full Partnerships
Value+customer satisfaction= customer loyalty
Marketing Strategy
Marketing plan
Target Market Size
Profitability
Accessibility
Limited competition
Consumer Marketers vs. Business Marketers
Consumer Direct efforts toward people who are buying products for personal
use.
Business Direct efforts to customers who buy products to produce other
products.
Business Market Segmentation
Geographic- Concentration of Customers
Customer-Based- characteristics of customers
Product-Use-Based- How customers will use product
Marketing Mix
Product Strategy: brand name, product image, package design
Pricing Strategy: fair prices, add value, relative to the benefits of your product.
Distribution Strategy: shipping, warehousing, and selling outlets
Promotion Strategy: ways that marketers communicate about their products.
Marketing Environment
Environmental Scanning- collecting information from external marketing environment. Key elements include
Competitive: understanding the market share
Economic: Identify and respond to change
Social/Cultural: lifestyle, customs, interests, rapidly changing trends.
Technological: Change in technology
Political/Legal: Laws, regulations
Understanding the Customer
Customer Behavior: How customers act, when buying or using a product.
Consumer Decision Process Need Recognition
Information search
Evaluation of Alternatives
Purchase Decision
Post purchase Behavior
Business buyer behavior- how people act when buying products to produce other products.
Marketing Research
Goal: better marketing decisions
Identify external opportunities
Monitor and predict customer behavior
Secondary data: existing data
Primary: new data Observational research: no interaction
Survey Research: What people are thinking and feeling