Download to read offline
Uploaded byFahad Masood
marketing managing profitable customer relationship
This document discusses the key concepts and principles of marketing. It defines marketing as creating value for customers and building strong customer relationships to capture value in return. It covers understanding customer needs and the marketplace, designing a customer-driven marketing strategy through market segmentation and value propositions, developing integrated marketing programs using the marketing mix, building customer relationships through satisfaction and loyalty, and capturing value from customers over their lifetime. It also discusses new developments in marketing like digital technologies, globalization, ethics and social responsibility, and the growth of not-for-profit marketing.
More Related Content
Similar to marketing managing profitable customer relationship
marketing managing profitable customer relationship
- 1.
- 2. Chapter Concepts 1. WhatIs Marketing? 2. Understanding the Marketplace and Customer Needs 3. Designing a Customer-Driven Marketing Strategy 4. Preparing an Integrated Marketing Plan and Program 5. Building Customer Relationships 6. Capturing Value from Customers 7. The New Marketing Landscape 8. So, What Is Marketing? Pulling It All Together 2
- 3. What Is Marketing? MarketingDefined Marketing is the process by which companies create value for customers and build strong customer relationships to capture value from customers in return 3
- 4. Understanding the Marketplace andCustomer Needs Customer Needs, Wants, and Demands • Needs are states of deprivation • Physical—food, clothing, warmth, safety • Social—belonging and affection 4
- 5. Understanding the Marketplace andCustomer Needs Customer Needs, Wants, and Demands Wants are the form that needs take as they are shaped by culture and individual personality Demands are wants backed by buying power 5
- 6. Understanding the Marketplace andCustomer Needs Market Offerings—Products, Services, and Experiences Market offerings are some combination of products, services, information, or experiences offered to a market to satisfy a need or want 6
- 7. Understanding the Marketplace andCustomer Needs Exchanges and Relationships Exchange is the act of obtaining a desired object from someone by offering something in return Relationships consist of actions to build and maintain desirable relationships 7
- 8.
- 9. Understanding the Marketplace andCustomer Needs Markets are the set of actual and potential buyers of a product. Marketing system consists of all of the actors (suppliers, company, competitors, intermediaries, and end users) in the system who are affected by major environmental forces • Demographic, Economic, Physical, Technological, Political–legal, Socio-cultural 9
- 10.
- 11. Designing a Customer-Driven MarketingStrategy Selecting Customers to Serve Market segmentation: Dividing the markets into segments of customers Target marketing: Which segments to go after 12
- 12. Designing a Customer-Driven MarketingStrategy Selecting Customers to Serve De-marketing: Marketing to reduce demand temporarily or permanently; the aim is not to destroy demand but to reduce or shift it. 13
- 13. Designing a Customer-Driven MarketingStrategy 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 15
- 14. Designing a Customer-Driven MarketingStrategy Marketing Management Orientations • Production concept • Product concept • Selling concept • Marketing concept • Societal concept 16
- 15. Designing a Customer-Driven MarketingStrategy Marketing Management Orientations Production concept is the idea that consumers will favor products that are available or highly affordable 17
- 16. Designing a Customer-Driven MarketingStrategy Marketing Management Orientations Product concept is the idea that consumers will favor products that offer the most quality, performance, and features for which the organization should therefore devote its energy to making continuous improvements 18
- 17. Designing a Customer-Driven MarketingStrategy Marketing Management Orientations 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 19
- 18. Selling vs MarketingConcept 20
- 19. Designing a Customer-Driven MarketingStrategy Marketing Management Orientations 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 21
- 20. Designing a Customer-Driven MarketingStrategy Marketing Management Orientations Societal marketing concept is the idea that a company should make good marketing decisions by considering consumers’ wants, the company’s requirements, consumers’ long-term interests, and society’s long-run interests 22
- 21.
- 22. Preparing an Integrated MarketingPlan and Program Marketing Mix The marketing mix is the set of tools (four Ps) the firm uses to implement its marketing strategy • Product • Price • Promotion • Place 24
- 23. Building Customer Relationships CustomerRelationship Management (CRM) Customer relationship management is the overall process of building and maintaining profitable customer relationships by delivering superior value and satisfaction 25
- 24. Building Customer Relationships CustomerRelationship Management (CRM) Customer perceived value is the difference between total customer value and total customer cost Customer satisfaction is the extent to which a product’s perceived performance matches a buyer’s expectations 26
- 25. Building Customer Relationships PartnerRelationship Management Supply chain is a channel that stretches from raw materials to components to final products to final buyers • Supply management • Strategic partners • Strategic alliances 27
- 26. Capturing Value fromCustomers 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 28
- 27. Capturing Value fromCustomers Growing Share of Customer Share of customer is the portion of the customer’s purchasing that a company gets in its product categories 29
- 28. The New MarketingLandscape Major Developments • Digital age • Globalization • Ethics and social responsibility • Not-for-profit marketing 30
- 29. The New MarketingLandscape The New Digital Age • Recent technology has had a major impact on the ways marketers connect with and bring value to their customers • Market research • Learning about and tracking customers • Create new customized products • Distribution • Communication • Video conferencing • Online data services 31
- 30. The New MarketingLandscape The New Digital Age Internet—creates marketplaces and marketspaces • Information • Entertainment • Communication 32
- 31. The New MarketingLandscape Rapid Globalization • The world is smaller • Think globally, act locally 33
- 32. The New MarketingLandscape The Call for More Ethics and Social Responsibility Marketers are being called upon to take greater responsibility for the social and environmental impact of their actions in a global economy 34
- 33. The New MarketingLandscape The Call for More Ethics and Social Responsibility Social marketing campaigns encourage energy conservation and concern for the environment or discourage smoking, excessive drinking, and drug use 35
- 34. The New MarketingLandscape The Growth for Not-for-Profit Marketing • Colleges • Hospitals • Museums • Zoos • Orchestras • Religious groups 36