Professional Documents
Culture Documents
Printed Week1 Marketing Excellence
Printed Week1 Marketing Excellence
Department of Marketing
NUS Business School
MARKETING
EXCELLENCE
Leong Siew Meng
P f
Professor
National University of Singapore
Product Quality
“Superior”
Superior products have failed acid test of market
Thorough understanding of consumers & their needs
Appropriate Positioning
Manufacturing Excellence & Marketing Expertise
Good product only one part of winning formula - must
be harnessed & sustained by sound marketing
Customer Loyalty I
A market-oriented organization is a customer-led
b i
business
All cashflow begins from customer’s wallet
Benefits:
– Make multiple purchases
– Offer cross- and up-selling opportunities
– F i h more favorable
Furnish f bl word-of-mouth
d f th
– Cheaper to maintain
– Less attuned to competitive communications
– Pay higher prices & less price oriented
– Mutually reinforces employee loyalty
Customer Loyalty II
Relationship
p Marketing
g
Loyalty Measure
Customer-led business shifts emphasis
– From factory floor to marketplace
– From selling physical product to satisfying customer
needs via integrated marketing
– From short-term profits based on sales to long-term
profits based on customer retention
Broken Promises
Internal Marketing
Cross-functional Cooperation
Company-wide marketing mindset
Organizational Restructuring
Competitiveness