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TRANSCRIPT
CREATING CUSTOMER
RELATIONSHIPS AND VALUE
THROUGH MARKETING
CHAPTER
http://highered.mcgraw-hill.com/sites/0070043450/student_view0/index.html
A Philosophy
An Attitude
A Perspective
A Management Orientation
A Set of Activities, including:
Products
Pricing
Promotion
Distribution
WHAT IS MARKETING?
WHAT IS MARKETING?
Marketing = Using Exchanges to Satisfy Needs
American Marketing Association Definition
Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and
organizational goals.
The Concept of Exchange
The idea that people give up something to receive something
they would rather have.
Both buyer and seller are better off after the trade.
Market – All people with both the desire and ability to buy a specific product
Target Market – One or more subgroups I can satisfy
WHO DO I AIM AT?
THE CONTROLLABLE MARKETING FORCES
PricePrice
PromotionPromotion
PlacePlace
ProductProduct
The Four P’s-the “arrow”
SocialSocial
NaturalNatural
EconomicEconomic
TechnologicTechnologic
Political and LegalPolitical and Legal
CompetitiveCompetitive
External Environmental
Factors
External Environmental
Factors
THE UNCONTROLLABLE MARKETING FORCES
Helps identify market opportunities
FIGURE 1-AFIGURE 1-A Summary of factors that affect an organization’s marketing program
FIGURE 1-4FIGURE 1-4 Marketing’s task: satisfying consumer needs
HOW MARKETING BECAMESO IMPORTANT
• Evolution of the Market Orientation
Production Era
Societal Era
Sales Era
Marketing Concept Era
OrientationOrientation Key Ideas
ProductionProduction
SalesSales
MarketMarket
SocietalSocietal
Focus on efficiency of internal operations – if we make it, they will buy it
Focus on satisfying customer needs and wants
while meeting objectives - if they will buy it, we will make itFocus on satisfying customer needs and wants while enhancing individual and societal well-being. I.e.-mfg using recyclables
Focus on aggressive sales techniques and believe that high sales result in high profits
MARKETING MANAGEMENT PHILISOPHIES
FIGURE 1-BFIGURE 1-B Four different orientations in the history of American business
Societal
Who Buys and Uses What Is Marketed?
• Ultimate Consumers
•Organizational Buyers
THE BREADTH & DEPTH OF MARKETING
What Is Marketed?
• Goods • Services • Ideas
HOW DO CONSUMERS BENEFIT
Utility – the benefits or customer value received by users of the product
• Offer products that perform• Give consumers more than they expect
• Avoid unrealistic pricing• Give the buyer facts• Offer organization-wide commitment in service and after-sales support
Customer value-benefits received by targeted buyers that include quality, price, convenience, on-time delivery, and both before-sale and after-sale service.
HOW TO DELIVER VALUE
Meet or exceed customer’s expectations
Provide solutions to customer’s problems
Cultivate relationships, NOT one-time transactions
Meet or exceed customer’s expectations
Provide solutions to customer’s problems
Cultivate relationships, NOT one-time transactions
KEEPING THE CUSTOMER SATISFIED
1. What is marketing?
A: Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.
Concept Check
Concept Check
1. An organization can’t satisfy the needs of all consumers, so it must focus on one or more subgroups, which are its ____________.target markets
Concept Check
2. What are the four marketing mix elements that make up the organization’s marketing program?
A: product, price, promotion, place
Concept Check
3. What are environmental forces?
A: Environmental forces are those that the organization’s marketing department can’t control. These include social, economic, technological, competitive, and regulatory forces.
Concept Check
1. What are the two key characteristics of the marketing concept?
A: (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization’s goals.
Concept Check
2. What is the difference between goods and services?
A: Goods are physical objects whereas services are complex intangible items, such as legal advice, a college education, or airline travel.
Exchange is the trade of things of value between buyer and seller so that each is better off after the trade.
Exchange is the trade of things of value between buyer and seller so that each is better off after the trade.
Exchange
A market consists of people with both the desire and ability to buy a specific product.
A market consists of people with both the desire and ability to buy a specific product.
Market
Customer value is the unique combination of benefits receivedby targeted buyers that includes quality, price, convenience, on-time delivery, and both before-sale and after-sale service.
Customer value is the unique combination of benefits receivedby targeted buyers that includes quality, price, convenience, on-time delivery, and both before-sale and after-sale service.
Customer Value
The marketing concept is the idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization’s goals.
The marketing concept is the idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization’s goals.
Marketing Concept
An organization that has a market orientation focuses its efforts on(1) continuously collecting information about customers’ needs, (2) sharing this information across departments, and(3) using it to create customer value.
An organization that has a market orientation focuses its efforts on(1) continuously collecting information about customers’ needs, (2) sharing this information across departments, and(3) using it to create customer value.
Market Orientation
The societal marketing concept is the view that an organization should satisfy the needs of consumers in a way that provides for society’s well-being.
The societal marketing concept is the view that an organization should satisfy the needs of consumers in a way that provides for society’s well-being.
Societal Marketing Concept
Organizational buyers are those manufacturers, wholesalers, retailers,and government agencies that buy goods and services for their own use or for resale.
Organizational buyers are those manufacturers, wholesalers, retailers,and government agencies that buy goods and services for their own use or for resale.
Organizational Buyers
Utility is the benefits or customer value received by users of the product.Utility is the benefits or customer value received by users of the product.
Utility