marketing managementmba2011-2012 [compatibility mode]

8/3/2019 Marketing Managementmba2011-2012 [Compatibility Mode]

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MARKETING

MANAGEMENT

AN INTRODUCTION


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The Purpose of a Business

Is to Create and Retain theRight Customer

Dr. Wafaa Marzouk


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Common Marketing Questions

n Which of my customers are profitable and

how do I find more just like them?n How can I best reach and keep my

customers?n Which customers are most likely to purchase

from me and which products/services do theywant?

n How big is the total opportunity market?n What is my revenue potential?n Who is my current and future competition

a

nd how much am I losing to them?n Am I gaining market share?n How can I increase ROI on my campaigns?

Dr. Wafaa Marzouk


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Introduction

Todays successful companies

have one thing in common:

they are strongly customerfocused and heavily committed

to marketing.

Dr. Wafaa Marzouk


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New Marketing Landscape

Rapid Globalization

Ethics & SocialResponsibility

New World of MarketingRelationships

Not-for-ProfitMarketing

Dr. Wafaa Marzouk


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Evolving Views of Marketings

Role

Evolving Views of Marketings

Role

a. Marketing as anequal function

FinanceProduction

Marketing Humanresources

b. Marketing as a moreimportant function

Finance

Humanresources

Marketing

Production

Dr. Wafaa Marzouk


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Evolving Views of Marketings RoleEvolving Views of Marketings Role

c. Marketing as themajor function

Marketing

Production

d. The customer as thecontrolling factor

Customer

Dr. Wafaa Marzouk


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Evolving Views of Marketings RoleEvolving Views of Marketings Role

e. The customer as the controllingfunction and marketing as the

integrative function

Customer

Marketing

Production

Dr. Wafaa Marzouk


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What Is Marketing?

n Simple Definition: Marketing ismanaging profitable customerrelationships.

Goals:

1. Keep and grow current customers bydelivering satisfaction.

2. Attract new customers by promisingsuperior value.

Dr. Wafaa Marzouk


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Marketing Old vs. New

Old view of marketing:

Making a sale -- Telling and Selling

New view of marketing:

Satisfying customer needs

Dr. Wafaa Marzouk


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What is marketing?

Dr. Wafaa Marzouk


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What is m arketing?

The American Marketing Association offers thefollowing definition:

Marketing is an organization function and a setof processes for creating, communication,

and delivering value to customers and formanaging customer relationships in waysthat benefit the organization and itsstakeholders.

Dr. Wafaa Marzouk


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Core Marketing Concepts

Needs, wants,and demands

Products

Value &

satisfaction

Exchange&transactions

Markets

Dr. Wafaa Marzouk


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What are Consumers Needs,

Wants, and Demands?

Dr. Wafaa Marzouk


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This Is a Need

Needs - state of felt

deprivationincluding physical,social, andindividual needs.

Dr. Wafaa Marzouk


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This Is a Want

Wants - form that ahuman need takes,as shaped by

culture andindividualpersonality.

An American needs foodbut wants a big Mac,

French fries and a softdrink.

Dr. Wafaa Marzouk


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This Is Demand

Demand

Wants Buying Power

Dr.WafaaMarzouk


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Product

A product is anything that can be offered to

satisfy a need or a want.

Dr.WafaaMarzouk


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Core Marketing Concepts

What is Marketed?n Goods

n Services

n Events

n Personsn Places

n Properties

n Organizations

n Information

n Ideas

Dr. Wafaa Marzouk


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Customer Satisfaction

Expectation Performance

810

If performance is lower than expectations, satisfaction is low.

If performance is higher than expectations, satisfaction is high.

Expectation Performance

108

Dr. Wafaa Marzouk


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Customer Perceived Value

Is FedExs service worth the higher price? FedEx thinks so. It promisesreliability, speed, and peace of mind. FedEx ads say Need to get it there orelse? Dont worry. Theres a FedEx for that.

Dr. Wafaa Marzouk


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Figure : A Simple Marketing System

Dr. Wafaa Marzouk


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What is a Market?

n The set of actual

and potential buyersof a product.

Dr. Wafaa Marzouk


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Elements of a Modern Marketing System

Dr. Wafaa Marzouk


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2- Designing a Customer-Driven

Marketing Strategy

Value Proposition

n The set of benefits

or values acompany promisesto deliver to

consumers to

satisfy their needs. It cleans and freshens likesunshine!

Dr.WafaaMarzouk 27

marketing managementmba2011-2012 [compatibility mode]

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