Chapter 13 - Marketing: Helping Buyers Buy

WHAT’S MARKETING? Page: 362 - 366

Marketing
The Evolution of Marketing
Production Era
Selling Era
Marketing Concept Era
The Marketing Concept includes three parts:
Customer Orientation
Service Orientation
Profit Orientation
Customer Relationship Era
Six Steps for Keeping Your Customers Happy:
1. Build trust
2. Emphasize the long term
3. Listen
4. Treat your customers like stars
5. Show appreciation
6. Remember employees are customers too!
Nonprofit marketing tactics include:
 Fundraising
 Public Relations
 Special Campaigns
 Ecological practices
 Changing public opinions and attitudes
 Increasing organizational membership
Nonprofit marketing strategies include:
 Determine the firm’s goals and objectives
 Focus on long-term marketing
 Find a competent board of directors
 Exercise strategic planning
 Train and develop long-term volunteers
 Carefully segment the target market
THE MARKETING MIX:Page: 366 - 369
 Applying the Marketing Process
 Designing a Product to Meet Consumer Needs
o Product
o Test Marketing
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 o Brand Name
 Setting an Appropriate Price
Pricing products depends on many factors:
o Competitors’ prices
o Production costs
o Distribution
o High or low price strategies
 Getting the Product to the Right Place
 Developing an Effective Promotional Strategy
Be a likeable salesperson:
 Have confidence.
 Be intriguing.
 Show interest in others.
 Be enthusiastic and respectful.
PROVIDING MARKETERS WITH INFORMATION:Page: 370 - 372
Marketing Research
The Marketing Research Process:
1. Defining the question (the problem or opportunity) and determiningthe
present situation.
2. Collecting research data.
Secondary Data
Primary Data
Focus Group
3. Analyzing the research data.
4. Choosing the best solution and implementing it.
KEY BENEFITS of MARKETING RESEARCH:
 Analyze customer needs and satisfaction.
 Analyze current markets and opportunities.
 Analyze the effectiveness of marketing strategies.
 Analyze marketing process and tactics currently used.
 Analyze the reasons for goal achievement or failure.
WAYS to FIND OUT WHAT CONSUMERS THINK:
 Conduct informal consumer surveys
 Host a customer focus group
 Listen to competitor’s customers
 Survey your sales force
THE MARKETING ENVIRONMENT:Page: 372 - 375
Environmental scanning
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 FIGURE 13.5 THE MARKETING ENVIRONMENT
Global Factors
Technological Factors
Sociocultural Factors
Competitive Factors
Economic Factors
The ABC’s of MARKETING:
 Always be customer-focused.
 Benchmark against the best firms.
 Continuously improve performance.
 Develop the best value package.
 Empower your employees.
 Focus on relationship building.
 Goal achievement is the reward.
TWO DIFFERENT MARKETS: CONSUMER AND BUSINESSTO-BUSINESS (B2B):Page: 375
Consumer Market
Business-to-Business (B2B)
THE CONSUMER MARKET:Page: 375 - 380
Market Segmentation
Target Marketing
Geographic Segmentation
Demographic Segmentation
Psychographic Segmentation
Benefit Segmentation
Volume (Usage) Segmentation
Niche Marketing
One-to-One Marketing
Mass Marketing
Relationship Marketing
Effective relationship marketing is built on:
 Open communication
 Consistently reliable service
 Staying in contact with customers
 Trust, honesty, and ethical behavior
 Showing that you truly care

STEPS in the CONSUMER DECISION-MAKING PROCESS:

 Problem recognition

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  Search for information
 Evaluating alternatives
 Purchase decision
 Post-purchase evaluation
KEY FACTORS in CONSUMER DECISION-MAKING:
Learning
Reference Groups
Culture
Subcultures
Cognitive Dissonance
THE BUSINESS-TO-BUSINESS MARKET:Page: 380 -381
B2B marketers include:
 Manufacturers
 Wholesalers and retailers
 Hospitals, schools and charities
 Government
B2B MARKET DIFFERENCES:
 There are relatively few customers.
 Customers tend to be large buyers.
 Markets are geographically concentrated.
 Buyers are more rational than emotional.
 Sales are direct.
 Promotions focus heavily on personal selling.

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