1、Chapter 1;. 1 - 2Define marketing and the marketing process.Explain the importance of understanding customers and identify the five core marketplace concepts. Identify the elements of a customer-driven marketing strategy and discuss the marketing management orientations that guide strategy.Discuss c

2、ustomer relationship management and identify strategies for creating value for and capturing value from customers.Describe the major trends and forces that are changing the marketing landscape.;. 1 - 3Creating Customer ValueGoal: Provide the very best customer service & customer experience.Custo

3、mer-centric approach: Free delivery, free returns, 365 day return policy & service upgrades.Results: 75% of sales come from current customers, tremendous sales growth despite poor economy, 10 million customers served annually.Zappos Creates Customer Value & RelationshipsFirst StopBuilding Re

4、lationshipsService Culture: Built around 10 core principles; every new hire takes 4 weeks of customer loyalty training.Commitment: During training, employees are offered $2000 to quit; only 1% do so.Lifelong relationships are the goal: Employees comparison shop other Web sites; social networking is

5、used for direct contact with customers; customer feedback and criticism is strongly encouraged and valued.;. 1 - 4What Is Marketing?Simple definition: Marketing is managing profitable customer relationships.Goals: Attract new customers by promising superior value. Keep and grow current customer-base

6、 by delivering satisfaction.;. 1 - 5Marketing DefinedMarketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return.OLD view of marketing:Making a sale - “telling and sellingNEW view of marketing:Satis

7、fying customer needs;. 1 - 6The Marketing ProcessA simple model of the marketing process:Understand the marketplace and customer needs and wants.Design a customer-driven marketing strategy.Construct an integrated marketing program that delivers superior value.Build profitable relationships and creat

8、e customer delight.Capture value from customers to create profits and customer equity.;. 1 - 7Core ConceptsMarketers must understand five core customer and marketplace concepts:Needs, wants, and demandsMarket offeringsValue and satisfactionExchanges and relationshipsMarkets ;. 1 - 8Needs, Wants, and

9、 DemandsNeed: State of felt deprivation including physical, social, and individual needs.Physical, social, and individual needsWants: Form that a human need takes, as shaped by culture and individual personality.Wants + Buying Power = Demand;. 1 - 9Marketing OfferingsNeeds and wants are fulfilled th

10、rough a Marketing Offer:Some combination of products, services, information, or experiences offered to a market to satisfy a need or want.;. 1 - 10Market OfferingsProducts:Persons, places, organizations, information, and ideas.Services:Activity or benefit offered for sale that is essentially intangi

11、ble and does not result in ownership.Brand experiences:Should immerse the consumer in the brand experience and may be intensely personal.;. 1 - 11Marketing MyopiaMarketing myopia:Occurs when sellers pay more attention to the specific products they offer than to the benefits and experiences produced

12、by the products.They focus on the “wants and lose sight of the “needs.;. 1 - 12Customer Value and SatisfactionCare must be taken when setting expectations for market offerings:If performance is lower than expectations, satisfaction is low.If performance is higher than expectations, satisfaction is h

13、igh.;. 1 - 13Exchanges and RelationshipsExchange:Act of obtaining a desired object from someone by offering something in return.Relationships:Marketing actions build and maintain relationships with target audiences involving an idea, product, service, or other object. Value builds relationships.;. 1

14、 - 14What Is a Market?A market:Is the set of actual and potential buyers of a product.These people share a need or want that can be satisfied through exchange relationships.;. 1 - 15Modern Marketing SystemsMain elements in a modern marketing system include:SuppliersCompany (marketer)CompetitorsMarke

15、ting intermediariesConsumersMajor environmental forces affect each element.;. 1 - 16Marketing ManagementThe art and science of choosing target markets and building profitable relationships with them.Aim is to find, attract, keep, and grow customers by creating, delivering, and communicating superior

16、 value.;. 1 - 17Marketing ManagementDesigning a winning marketing strategy requires answers to the following questions: 1. What customers will we serve? What is our target market?2. How can we best serve these customers? What is our value proposition?;. 1 - 18Selecting Customers to ServeMarket segme

17、ntation:Dividing the market into segments of customers.Target marketing:Selecting one or more segments to cultivate.;. 1 - 19Choosing a Value PropositionThe set of benefits or values a company promises to deliver to consumers to satisfy their needs.Value propositions dictate how firms will different

18、iate and position their brands in the marketplace.;. 1 - 20Marketing Management OrientationsOrganizations design and carry out their marketing strategies under five alternate concepts:Production ConceptProduct ConceptSelling ConceptMarketing ConceptSocietal Marketing Concept;. 1 - 21The Marketing Co

19、nceptThe marketing concept:A marketing management philosophy that holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfaction better than competitors. ;. 1 - 22The Societal Marketing ConceptThe societal marketing concept:

20、The idea that a companys marketing decisions should consider consumers wants, the companys desires, consumers long-run interests, and societys long-run interests.;. 1 - 23The Integrated Marketing PlanTransforms the marketing strategy into action.Includes the marketing mix and 4 Ps of marketing:Produ

21、ctPricePlace (Distribution)Promotion;. 1 - 24Building Customer RelationshipsCustomer relationship management:The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction.CRM deals with all aspects of acquiring, keeping, and

22、growing customers.Customer value and satisfaction are key.;. 1 - 25Customer Perceived ValueCustomer perceived value:Customers evaluation of the difference between all of the benefits and all of the costs of a marketing offer relative to those of competing offers.Perceptions may be subjective To some

23、 customers “value might mean paying more to get more.;. 1 - 26Customer SatisfactionCustomer satisfaction:Extent to which the products perceived performance matches a buyers expectations.High levels of customer satisfaction often leads to consumer loyalty.Some firms seek to DELIGHT customers by excee

24、ding expectations.Profitability must be considered.;. 1 - 27Customer RelationshipsFirms may choose to build relationships at different levels.Loyalty and retention programs build relationships and may include:Frequency marketing programsClub marketing programs;. 1 - 28Changing Nature of Relationship

25、sCustomer profitability analysis eliminates losing customers and selects profitable ones with whom relationships should be developed.Firms related more deeply and interactively via blogs, social network Web sites, , and video sharing.Embracing customer-managed relationships requires marketing via at

26、traction rather than intrusion.Consumer-generated marketing has become a significant marketing force.;. 1 - 29Partner Relationship MarketingMarketing partners help create customer value and assist in building customer relationships.Partners inside the firm:Cross-functional customer teamsPartners out

27、side the firm:Supply chain management;. 1 - 30Capturing Value From CustomersValue is captured from customers via current and future sales, market share, and profit.Superior customer value leads to highly satisfied loyal customers who buy more.Key outcomes of customer value include customer loyalty a

28、nd retention, share of market, share of customer, and customer equity.;. 1 - 31Customer EquityThe total combined customer lifetime values of all the companys current and potential customers.Manage equity by:Classifying customers by projected loyalty and potential profitability.Manage each group acco

29、rdingly.;. 1 - 32Capturing Value From CustomersCustomer lifetime valueThe value of the entire stream of purchases that the customer would make over a lifetime of patronage.Share of customerThe portion of the customers purchasing that a company gets in their product categories.;. 1 - 33Changing Marketing LandscapeThe uncertain eco