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INTRODUCTION TO MARKETING
CONCORDIA UNIVERSITY
WHAT IS
MARKETING?
Marketing Is
All Around You
Most influential
brands in Canada
Marketing is about
➢ Great storytelling
✓ Clear core values
✓ Convincing narrative
✓ Excellent communication
▪ Great visuals & content
➢ Consistency
✓ Brand as a token of integrity and promise = reputation
What is
Marketing?
Key Activities:
Finding, attracting, keeping, and increasing
number of customers by providing value.
Objective
➢ increasing your customer base through value
creation
Goals of
Marketing
▪ Customer Acquisition:
✓ Attracting new customers
▪ Customer Retention:
✓ Keeping and growing current customer
base
➢ Process:
Process ✓ Identifying customer needs and
developing products to satisfy those needs
vs.
➢ Cycle:
Cycle ✓ mutual value generation between buyer
and seller
The Marketing Process
UNDERSTANDING
THE MARKETPLACE STEP 1
AND
CUSTOMER NEEDS
Five core customer & marketplace
concepts:
Text
Market Offerings
▪ Key Takeaway:
✓ Sell the benefit, not the tangible
aspects of your product/service.
CUSTOMER VALUE
& SATISFACTION
▪ Delivered Value > Customer Expectation
=> Satisfied customers
➢ Repeat purchase
➢ Tell others (WoM)
Markets
Components of Marketing System:
which are the c
MARKETING STRATEGY
To build profitable customer relationships
through value creation.
Processes:
Marketing o Customer analysis
❑Target Marketing:
✓selecting which segment(s) to serve
➢ Best one should be mutually beneficial
Value Proposition
The set of benefits or values promised to be delivered to consumers to
satisfy their needs in a superior way.
▪ Purpose:
✓ To Differentiate and Position brands within the marketplace
Inside-Out
Outside-In
STP
Marketing
STP stands for:
o Segmentation
o Targeting
o Positioning
RELATIONSHIPS
Customer Relationship
Management
CRM is about building & maintaining profitable relationships with customers by
delivering superior value and satisfaction.
❖ A good CRM system should make the customer feel valued, understood, supported
=> fostering a strong & mutually beneficial relationship.
Your marketing offering is better They get better than what they
than your competitors would get from your competitors
Customer
A discount on the first month's bill of a Acquisition
mobile service provider
or
Customer
Amazon Prime membership benefits. Retention?
wow
factor
Satisfaction
vs. Delight
A customer orders a cappuccino at a coffee shop on her
birthday.
▪ Customer Satisfaction:
• The cappuccino tastes good and is served at the
right temperature.
The customer is satisfied because the coffee shop
met her expectations.
▪ Customer Delight:
• The barista makes the cappuccino well, decorates
the top with a "Happy Birthday" message, and
serves it with a complimentary piece of cake.
The customer is delighted because the coffee shop
exceeded their expectations by providing an
unexpected, positive experience.
Customer
Relationship Tools
Customer Relationship Tools:
CUSTOMER
Customer Value
❑ Customer lifetime value: the value of the entire stream of purchases a customer
makes over a lifetime of patronage.
❑ Share of Customer: portion of the customer’s purchasing that a company gets in
its product categories.
How to calculate:
• Average customer spend 4 $ per purchase
• average customer purchase frequency is 3 times a week
• Customers stays with the company from age 18 to 38
Positioning: Attempting to
Differentiation: Creating
occupy a clear, distinctive
unique and superior
desirable place in the minds
customer value.
of target consumers
Customer Value-Driven
Marketing Strategy
Managing
Marketing Effort
SWOT analysis
▪ Executive Summary
▪ Marketing Strategy
▪ Action Programs
▪ Budgets
▪ Controls
Marketing
Implementation
▪ Plans converted to actions by assigning:
▪ What
▪ Who
▪ Where
▪ When
▪ How
Marketing Control
SMART goal:
GOAL ▪
the goal that would allow a team to know if they were
successful.
It is not Achievable: There is no plan or strategy
outlined that would make this goal attainable.
▪ It is not Relevant: Without more context, it's unclear
why increasing brand awareness is important or how
it connects to broader business goals.
▪ It is not Time-bound: There is no deadline or
timeframe attached to the goal.
Thank
You