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Ch 1 -0 Copyright 2011 Pearson Education
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Principles of Marketing,Arab World Edition
Philip Kotler, Gary Armstrong, Anwar Habib, AhmedTolba
Presentation prepared by Annelie Moukaddem Baalbaki
CHAPTER ONEMarketing: Creating and
Capturing Customer Value
Lecturer: Insert your name here
Ch 1 -1 Copyright 2011 Pearson Education
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Creating and Capturing Customer Value
1.1 What Is Marketing?
1.2 Understand the Marketplace and Customer Needs
1.3 Designing a Customer-Driven Marketing Strategy1.4 Preparing an Integrated Marketing Plan and Program
1.5 Building Customer Relationships
1.6 Capturing Value from Customers
1.7 The Changing Marketing Landscape1.8 So, What is Marketing? Pulling It All Together
Topic Outline
Ch 1 -2 Copyright 2011 Pearson Education
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What Is Marketing?
Marketingis a process by which companies create valuefor customers and build strong customer relationships tocapture value from customers in return.
Marketing Defined
Ch 1 -3 Copyright 2011 Pearson Education
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What Is Marketing?
The Marketing Process
Ch 1 -4 Copyright 2011 Pearson Education
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Understanding the Marketplace and Customer
Needs
States of deprivation
Physicalfood, clothing, warmth, safety
Socialbelonging and affection
Individualknowledge and self-expression
Needs
Form that needs take as they are shaped byculture and individual personalityWants
Wants backed by buying powerDemands
Customer Needs, Wants, and Demands
Ch 1 -5 Copyright 2011 Pearson Education
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Understanding the Marketplace and CustomerNeeds
Market offerings are some combination of products,services, information, or experiences offered to a market to
satisfy its needs or wants.
Marketing myopia is focusing only on existing wants andlosing sight of underlying consumer needs.
Market Offerings: Products, Services and Experiences
Ch 1 -6 Copyright 2011 Pearson Education
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Understanding the Marketplace and CustomerNeeds
Customer Value and Satisfaction
Customers
Value andsatisfaction
Marketers
Set the right level ofexpectations
Not too high or low
Ch 1 -7 Copyright 2011 Pearson Education
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Exchangeis the act of obtaining a desired object fromsomeone by offering something in return.
Marketers aim at building strong relationshipsby consistentlydelivering superior customer value.
Understanding the Marketplace and CustomerNeeds
Exchanges and relationships
Ch 1 -8 Copyright 2011 Pearson Education
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Understanding the Marketplace and CustomerNeeds
A marketis the set of actual and potential buyers of aproduct.
Ch 1 -9 Copyright 2011 Pearson Education
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Designing a Customer-Driven MarketingStrategy
Marketing management is the art and science of choosingtarget markets and building profitable relationships with them.
What customers will we serve?
How can we best serve these customers?
Marketing Management
Ch 1 -10 Copyright 2011 Pearson Education
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Designing a Customer-Driven Marketing
Strategy
Market segmentation refers to dividing the markets intosegments of customers.
Target marketing refers to which segments to go after.
Demarketing is marketing to reduce demand temporarily orpermanently; the aim is not to destroy demand but to reduceor shift it.
Selecting Customers to Serve
Ch 1 -11 Copyright 2011 Pearson Education
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Designing a Customer-Driven Marketing
Strategy
Choosing a Value Proposition
The value proposition is the set of benefits or values acompany promises to deliver to customers to satisfy their
needs.
Ch 1 -12 Copyright 2011 Pearson Education
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Designing a Customer-Driven Marketing
Strategy
Productionconcept
Productconcept
Sellingconcept
Marketingconcept
Societalconcept
Marketing Management Orientations
Ch 1 -13 Copyright 2011 Pearson Education
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Designing a Customer-Driven Marketing
Strategy
Production concept is the idea that consumers will favor
products that are available and highly affordable.
Marketing Management Orientations
Ch 1 -14 Copyright 2011 Pearson Education
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Designing a Customer-Driven Marketing
Strategy
Product concept is the idea that consumers will favorproducts that offer the most quality, performance, and
features. An organization should therefore devote its energy tomaking continuous product improvements.
Marketing Management Orientations
Ch 1 -15 Copyright 2011 Pearson Education
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Designing a Customer-Driven Marketing
Strategy
Selling concept is the idea that consumers will not buyenough of the firms products unless it undertakes a large
scale selling and promotion effort.
Marketing Management Orientations
Ch 1 -16 Copyright 2011 Pearson Education
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Designing a Customer-Driven Marketing
Strategy
Marketing Management Orientations
Marketing concept is the idea that achievingorganizational goals depends on knowing the needs andwants of the target markets and delivering the desiredsatisfactions better than competitors do.
Ch 1 -17 Copyright 2011 Pearson Education
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Designing a Customer-Driven Marketing
Strategy
The Selling and Marketing Concepts Contrasted
Ch 1 -18 Copyright 2011 Pearson Education
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Designing a Customer-Driven Marketing
Strategy
Marketing Management Orientations
Thesocietal marketing conceptis the idea that acompanys marketing decisions should consider consumers
wants, the companys requirements, consumers long-terminterests, and societys long-term interests.
Ch 1 -19 Copyright 2011 Pearson Education
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Designing a Customer-Driven MarketingStrategy
Ch 1 -20 Copyright 2011 Pearson Education
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The marketing mix is the set of tools (four Ps) the firm usesto implement its marketing strategy. It includes product, price,promotion, and place.
Integrated marketing program is a comprehensive planthat communicates and delivers the intended value to chosencustomers.
Preparing an Integrated Marketing Plan andProgram
Ch 1 -21 Copyright 2011 Pearson Education
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Building Customer Relationships
Customer relationship management (CRM):The overallprocess of building and maintaining profitable customer
relationships by delivering superior customer value andsatisfaction.
Ch 1 -22 Copyright 2011 Pearson Education
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Building Customer Relationships
Relationship Building Blocks: Customer Value andSatisfaction
Customer-perceived value
The differencebetween totalcustomer valueand totalcustomer cost
Customersatisfaction
The extent towhich aproductsperceivedperformancematches a
buyersexpectations
Ch 1 -23 Copyright 2011 Pearson Education
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Building Customer Relationships
Customer Relationship Levels and Tools
BasicRelationships
FullPartnerships
Ch 1 -24 Copyright 2011 Pearson Education
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Building Customer Relationships
Relating with more carefully selected customers usesselective relationship management to target fewer, moreprofitable customers.
Relating more deeply and interactively by incorporating moreinteractive, two way relationships through blogs, websites,online communities and social networks.
The Changing Nature of Customer Relationships
Ch 1 -25 Copyright 2011 Pearson Education
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Partner relationship management involves workingclosely with partners in other company departments andoutside the company to jointly bring greater value to
customers.
Building Customer Relationships
Partner Relationship Management
Ch 1 -26 Copyright 2011 Pearson Education
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Building Customer Relationships
Partners insidethecompanyrefer to every function areainteracting with customers:
electronically
cross-functional teams
Partners outsidethecompanyrefer to how marketersconnect with their suppliers, channel partners, and competitorsby developing partnerships.
Partner Relationship Management
Ch 1 -27 Copyright 2011 Pearson Education
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Building Customer Relationships
Supply chain is a channel that stretches from raw materialsto components to final products to final buyers:
Supply management
Strategic partners
Strategic alliances
Partner Relationship Management
Ch 1 -28 Copyright 2011 Pearson Education
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Capturing Value from Customers
Customer lifetime value is the value of the entire streamof purchases that the customer would make over a lifetimeof patronage.
Creating Customer Loyalty and Retention
Ch 1 -29 Copyright 2011 Pearson Education
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Capturing Value from Customers
Share of Customer is the portion of the customerspurchasing that a company gets in its product categories.
Growing Share of Customer
Ch 1 -30 Copyright 2011 Pearson Education
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Capturing Value from Customers
Customer equity is the total combined customer lifetimevalues of all of the companys customers.
Building Customer Equity
Ch 1 -31 Copyright 2011 Pearson Education
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Capturing Value from Customers
Building the right relationships with the right customersinvolves treating customers as assets that need to bemanaged and maximized.
Different types of customers require different relationshipmanagement strategies.
Building Customer Equity
Ch 1 -32 Copyright 2011 Pearson Education
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The Changing Marketing Landscape
Digital ageRapid
globalization
Ethics andsocial
responsibility
Not-for-profit
marketing
Major Developments
Ch 1 -33 Copyright 2011 Pearson Education
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So, What Is Marketing? Pulling It All Together
Ch 1 -34 Copyright 2011 Pearson Education
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