Marketing.chap01ppt

Chapter 1- slide 1
Chapter One
Marketing: Creating and Capturing
Customer Value

Chapter 1- slide 2
Copyright © 2010 Pearson Education, Inc.
Publishing as Prentice Hall
Creating and Capturing Customer
Value
In this topic the following objectives will be
accomplished;
•What Is Marketing?
•Understanding core marketing concepts
•Designing a Customer-Driven Marketing Strategy
•Building Customer Relationships
•The Changing Marketing Landscape
Topic Outline

Chapter 1- slide 3
What Is Marketing?
• Marketing is defined as set of activities,
and processes for creating,
communicating, delivering, and
exchanging offerings that have value for
customers, clients, and society at large.
(By American marketing association)
• Marketing is a process by which
companies create value for customers and
build strong customer relationships to
capture value from customers in return

Chapter 1- slide 4
• Marketing is a social and managerial
process whereby individuals and groups
obtain what they need and want through
creating and exchanging products and
value with others.
Marketing is critical for to the success of
every organization, large or small, profit or
non-profit, local or international.
Continue-definitions of marketing

Chapter 1- slide 5
Some people may think of marketing only as
selling and advertising. They are part of
marketing functions, but are not the most
important ones.
Today marketing must be understood not in
the old sense of making a sale, but in the new
sense of satisfying customer needs.
Continue-marketing

Chapter 1- slide 6
Core-marketing concepts
The following are core marketing concepts;
•Customer needs, wants, and demands
•Market offerings
•Value and satisfaction
•Exchanges and relationships
•Markets

Chapter 1- slide 7
Continue-marketing concepts
Customer Needs, Wants, and Demands
Business organizations are required to understand the needs,
wants and demands of their customers

Chapter 1- slide 8
• Market offerings are some combination of
products, services, information, or
experiences offered to a market to satisfy a
need or want.
• Marketing offers are not limited to a
physical products, but include services,
benefits offered for sale.
• Marketing offers also include other entities such as
persons, places, organizations, information, and
ideas.
• Smart marketers look beyond the attributes of
products, but the meaning of the product. Egg. Nike
is more than just shoes, it is what the shoes do for
you and where they take you

Chapter 1- slide 9
Value and satisfaction
Customer value is the difference between the
values the customer gains from owning and using
a product and the costs of obtaining the product.
Customers form expectations about the value of
various marketing offers and buy accordingly.
Customer satisfaction with a purchase depends
on how well the product’s performance lives up
to the customer’s expectations. Customer
satisfaction is a key influence on future buying
behavior

Chapter 1- slide 10
Exchange, transactions, and relationships
Marketing occurs when people decide to satisfy
needs and wants through exchange
Exchange the act of obtaining a desired object
from someone by offering something in return.
Eg. Taking product by paying money
Transactions a trade of values between two
parties. Marketing consists of activities
undertaken to build desirable exchange
relationships.

Chapter 1- slide 11
Markets: originally the term market stood for
the place where sellers and buyers meet to
exchange some benefits.
The set of all actual and potential buyers of a
product or service.
Marketers work to understand the needs and
wants of specific markets and to select the
markets that they can serve best.

Chapter 1- slide 12
Designing a Customer-Driven
Marketing Strategy
Marketing management is the art and
science of choosing target markets and
building profitable relationships with them
– What customers will we serve?
– How can we best serve these customers?
Customer and demand management
The organization has a desired level of demand
for its products. at any point in time, there may
be no demand, adequate demand or too much
demand.

Chapter 1- slide 13
Marketing Strategy
Market segmentation refers to dividing the
markets into segments of customers
Target marketing refers to which segments
to go after
Selecting Customers to Serve

Chapter 1- slide 14
Marketing Strategy
Marketing Management Orientations

Chapter 1- slide 15
Marketing Strategy
Production concept is the idea that
consumers will favor products that are
available or highly affordable. This concept
works well when the demand exceeds
supply. So at that time companies strived
to produce more quantities.

Chapter 1- slide 16
Marketing Strategy
Product concept is the idea that consumers
will favor products that offer the most
quality, performance, and features.
Organization should therefore devote its
energy to making continuous product
improvements.

Chapter 1- slide 17
Marketing Strategy
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. Activities such as
advertisement is highly needed to promote
sales

Chapter 1- slide 18
Marketing Strategy
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

Chapter 1- slide 19
Marketing Strategy
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

Chapter 1- slide 20
Building Customer Relationships
The overall process of building and maintaining
profitable customer relationships by delivering
superior customer value and satisfaction.
The purpose of building strong relationship with
customers is to return current customers, because
loosing a customer means loosing more than one
sale.
Customer life time value is the value of the entire
stream of purchases that the customer would
make over a life time of patronage
Customer Relationship Management (CRM)

Chapter 1- slide 21
Relationship Building Blocks: Customer Value
and Satisfaction
To attract and keep customers, a company must constantly seek
ways to deliver value and satisfaction

Chapter 1- slide 22
• Customer loyalty and retention
Highly satisfied customers produce several
benefits for the company. satisfied
customers are less price sensitive, they talk
favorably to others about the company and
its products.
A slight drop from complete satisfaction can
create an enormous drop in loyalty.
Continue-building relationship with customers

Chapter 1- slide 23
Growing “share of customer”
Companies are striving to increase the share
they get of the customer’s purchasing in their
product categories.
•Customer equity is the total combined customer
lifetime values of all of the company's
customers. Building the right relationships with
the right customers involves treating customers
as assets that need to be managed and
maximized.
Continue-building relationship with customers

Chapter 1- slide 24
Customer Relationship Levels and Tools

Chapter 1- slide 25
• Relating with more carefully selected
customers uses selective relationship
management to target fewer, more profitable
customers
• Relating more deeply and interactively by
incorporating more interactive two way
relationships through blogs, Websites, online
communities and social networks
The Changing Nature of Customer
Relationships

Chapter 1- slide 26
Building relationship with
customers
• Partner relationship management involves
working closely with partners with in
company departments and outside the
company to jointly bring greater value to
customers
• When it comes to creating customer value
and building strong customer relationships,
today’s marketers must work closely with a
variety of marketing partners.
Partner relationship

Chapter 1- slide 27
Building relationship with customers
Partners Inside the Company
The old thinking was that marketing is done only
by marketing, sales, and customer-support
people. Today, rather than letting each
department go its own way, firms are linking all
departments in the cause of creating customer
value. Rather than assigning only sales and
marketing people to customers, they are
forming cross-functional teams

Chapter 1- slide 28
Building relationship with customers
Marketing Partners Outside the Firm
•Most companies today are relying heavily
on partnerships with other firms such as
suppliers, distributors, retailers, and others
who connect the company to its buyers.
•Supply chain management involves
managing longer channel, stretching from
raw materials to components to final
products that are carried to final buyers

Chapter 1- slide 29
The Changing Marketing
Landscape
Major Developments

Chapter 1- slide 30
All rights reserved. No part of this publication may be reproduced, stored in a
retrieval system, or transmitted, in any form or by any means, electronic,
mechanical, photocopying, recording, or otherwise, without the prior written
permission of the publisher. Printed in the United States of America.
Copyright © 2010 Pearson Education, Inc.Copyright © 2010 Pearson Education, Inc.
Publishing as Prentice HallPublishing as Prentice Hall

Marketing.chap01ppt

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