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Marketing: Managing Profitable Customer Relationships: A Global Perspective
Marketing: Managing Profitable Customer Relationships: A Global Perspective
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Marketing: Managing Profitable Customer Relationships
Philip Kotler Gary Armstrong Swee Hoon Ang Siew Meng Leong Chin Tiong Tan Oliver Yau Hon-Ming
PowerPoint slides adapted by Peggy Su
Learning Objectives
After studying this chapter, you should be able to: 1. 2. Define marketing and outline the steps in the marketing process Explain the importance of understanding customers and the marketplace, and identify the five core marketplace concepts
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Identify the key elements of a customer-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy
Discuss customer relationship management, and identify strategies for creating value for customers and capturing value from customers in return Describe the major trends and forces that are changing the marketing landscape in this age of relationships
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Chapter Concepts
1. What Is Marketing? 2. Understanding the Marketplace and Customer Needs
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What Is Marketing?
Marketing Defined
Marketing is the process by which companies create value for customers and build strong customer relationships to capture value from customers in return.
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What Is Marketing?
The Marketing Process
Understand the marketplace and customer wants and needs Design a customer-driven marketing strategy Construct a marketing plan that delivers superior value Build profitable relationships and create customer satisfaction
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Value and satisfaction Set the right level of expectations Not too high or too low
Marketers
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Economic
Physical
Copyright 2009 Pearson Education South Asia Pte Ltd
Political-legal
Socio-cultural
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De-marketing
Marketing to reduce demand temporarily or permanently The aim is not to destroy demand but to reduce or shift it.
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Demand management
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Production concept
Product concept Selling concept Marketing concept Societal concept
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The product concept is the idea that consumers will favor products that offer the most quality, performance, and features for which the organization should therefore devote its energy to making continuous improvements.
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The selling concept is the idea that consumers will not buy enough of the firms products unless it undertakes a large scale selling and promotion effort.
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The 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.
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The societal marketing concept is the idea that a company should make good marketing decisions by considering consumers wants, the companys requirements, consumers long-term interests, and societys longrun interests.
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A mother mouse and a baby mouse are walking along, when all of a sudden, a cat attacks them, The mother mouse yells, "BARK!" and the cat runs away. "See?" says the mother mouse to her baby. "Now do you see why it's important to learn a foreign language?"
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The marketing mix is the set of tools (four Ps) the firm uses to implement its marketing strategy:
Product
Price
Promotion
Place
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An integrated marketing program is a comprehensive plan that communicates and delivers the intended value to chosen customers.
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Partners outside the company is how marketers connect with their suppliers, channel partners, and competitors by developing partnerships.
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Not-for-profit marketing
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Communication
Video conferencing Online data services
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Marketers are being called upon to take greater responsibility for the social and environmental impact of their actions in a global economy.
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Social marketing campaigns encourage energy conservation and concern for the environment or discourage smoking, excessive drinking, and drug use.
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Zoos
Orchestras Religious groups
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