56381050
Marketing -Is the process of building profitable client relationships by creating benefit for customers and capturing value in return -Satisfying customer demands 2 GOALS OF MARKETING •To attract new clients by encouraging superior worth •To maintain and grow current customers by providing satisfaction MARKETING PROCESS 1 ) Understanding the Industry and Buyer Needs 1 ) 1 .
Demands, Wants, and Demands 1 . 1 . 1 ) NEEDS – states of felt deprival. 1 . 1 . 2 . WISHES – the proper execution human needs take as shaped by simply culture and individual personality. 1 . 1 . several. DEMANDS – human would like that are backed with buying electricity. 1 . installment payments on your
Marketing Offerings (Products, services, and experiences) – a lot of combination of products, services, information, or activities offered to an industry to satisfy a purpose or desire. •Marketing Myopia – concentrate on of paying more attention to the certain products an organization offers than to the rewards and activities produced by these products. 1 . a few. Customer Worth Satisfaction – are essential building blocks to get developing and managing client relationships. 1 ) 4. Exchanges and Human relationships – the act of obtaining a preferred object coming from someone by providing in return. 1 . 5. Markets – group of all actual and would-be of a products or services.. Designing a Customer-Driven Marketing Strategy • Advertising Management – the artwork and scientific research of choosing target markets and building lucrative relationships with them. 2 . 1 . What customers will certainly we provide? (What’s our target market? ) 2 . 1 . 1 . MARKET SEGMENTATION – dividing industry into sections of customers 2 . 1 . 2 . TARGET PROMOTING – picking which segments it will go after. 2 . installment payments on your How can we serve these types of customer’s ideal? (What’s the value idea? ) – is the industry�s set of benefits or values it promises to deliver to consumers to satisfy their needs. 2 . 2 . 1 . MARKETING MANAGEMENT ORIENTATIONS 2 . 2 . 1 .. THE PRODUCTION PRINCIPLE – the concept consumers is going to favour goods that are available and highly inexpensive and that the corporation should as a result focus on enhancing production and distribution efficiency. 2 . installment payments on your 1 . installment payments on your THE PRODUCT CONCEPT – the idea that consumers will certainly favour items that offer the most quality, performance, and features and that the organization should consequently devote the energy in order to continuous item improvements. 2 . 2 . 1 . 3. THE SELLING IDEA – the idea that consumers will not likely buy enough of the business product unless it undertakes a considerable selling and promotion hard work.. 2 . 1 ) 4. THE MARKETING CONCEPT – the marketing supervision philosophy that achieving organizational goals will depend on knowing the needs and wishes of goal markets and delivering the desired satisfactions greater than competitors perform. 2 . installment payments on your 1 . five. THE SOCIETAL MARKETING PRINCIPLE – a principle of enlightened promoting that keeps that a business should produce good advertising decisions by simply considering the customers’ wants, you can actually requirements, customers’ long-run pursuits, and the society’s long-run pursuits. 3.
Organizing an Integrated Promoting Plan and Program – consists of the firm’s advertising mix, the set of advertising tools the firm uses to implement its online marketing strategy. •Marketing Mix (4Ps) a)Product b)Price c)Place d)Promotion some. Building Client Relationships – most important help marketing method 4. 1 ) Customer Marriage Management – the overall process of building and maintaining consumer relationships simply by delivering remarkable customer value and pleasure 4. installment payments on your Relationships Foundations: Customer Benefit and Pleasure 4. installment payments on your 1 .
BUYER PERCEIVED VALUE – the customer’s evaluation of the big difference between all of the benefits and everything the costs of a market giving relative to those of competing provides. 4. 2 . 2 . CUSTOMER SATISFACTION – the extent that a product’s perceived functionality matches a buyer’s anticipations. 4. 3. Customer Marriage Levels and Tools some. 3. 1 . FREQUENCY MARKETING PROGRAMS – reward consumers who get frequently or in a lot. 4. three or more. 2 . GOLF CLUB MARKETING PROGRAMS – presents members unique benefits and create affiliate communities. 4. 4. The Changing Mother nature of Client Relationships 4. 4. 1 . RELATING WITH ADDITIONAL CAREFULLY CHOSEN CUSTOMERS Accurate Mass Advertising – providing in a standard way to any customer so what? along. •Selective Relationship Management – focusing on fewer, even more profitable clients 4. 5. 2 . RELATING FOR THE LONG TERM – serving picked customers within a deeper, even more lasting way to retain current customers and create long term interactions with them. 4. four. 3. RELATING DIRECTLY – serving consumers without going to a store – by mobile phone, mail purchase, catalogues, kiosks, and on-line. 4. a few. Partner Romance Management – working close in other organization or departments and outside the company to collectively bring greater value to customers.. five. 1 . LOVERS INSIDE THE ORGANIZATION – linking all departments of a organization in the cause of creating client value. four. 5. 2 . MARKETING ASSOCIATES OUTSIDDE THE FIRM •Supply Chain – describes a longer channel, extending from unprocessed trash to parts to last products which might be carried to final buyers. •Strategic Forces – proper partners if perhaps they aspire to be effective your five. Capturing Worth from Buyers 5. 1 . Creating Consumer Loyalty and Retention – the value of the whole stream buys that a buyer would make over the lifetime of patronage. 5. installment payments on your
Growing Discuss Customer – the portion of the client’s purchasing that a company gets in its item categories. 5. 3. Building Customer Equity – the overall combined customer lifetime beliefs of all the industry�s customers. a few. 4. Building the Right Human relationships with the Right Buyers CLASSIFICATIONS OF SHOPPERS •Strangers – Little match between industry�s offerings and customer’s requires, lowest profit potential •Butterflies – Good fit between company’s offerings and user’s needs, substantial profit potential •True Friends – Very good fit between company’s offerings and customer’s needs, maximum profit potential. Barnacles – Limited fit between industry�s offerings and customer’s requirements, low profit potential THE BRAND NEW MARKETING SURROUNDINGS 1 . Fresh Digital Age – marketers must harness promoting technology installment payments on your Rapid Globalization – benefit from global opportunities 3. The phone call for more Ethics and Interpersonal Responsibility – marketers need to make sure that they placed in an moral and socially responsible approach. THE GROWTH FOR NOT-FOR-PROFIT PROMOTING (Examples) •Colleges •Hospitals •Museums •Zoos •Symphony Orchestra •Churches
