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The Power of Marketing
Prof.Dr.Aung Tun Thet (email@example.com)
"The only thing that matters is how you touch people. Have you given anyone insight? That's what I want to have done. Insight lasts; theories don't.´ Peter Drucker
Knowing is not enough; we must apply. Willing is not enough, we must do.
Marketing today is dramatically different. It·s no longer just market share and how much you can sell. It·s also owning the customer relationship.´
You go to a party and you see an attractive girl across the room. You go up to her and say, "Hi, I'm great in bed, how about it?´ That's Direct Marketing.
how about it?´ That's Advertising. You give your friend $10. She goes up and says "Hi. . my friend over there is great in bed.Marketing Explained You go to a party and you see an attractive girl across the room.
I am great in bed. how about it?´ That's Tele-Marketing. You somehow get her mobile number. .Marketing Explained You go to a party and see an attractive girl across the room. You call and chat her up a while and then say "Hi.
You walk up to her. how about it?´ That's Customer Relationship Management. "Hi. You go to a party and see an attractive girl across the room. . refresh her memory and get her to laugh and then suggest. You recognize her. I am great in bed.
You stand straight. I am great in bed. you talk soft and smooth. "Hi. how about it?´ That's Hard Selling. Gentleman and then you move up to the girl and say. . you play the Mr. You go to a party and you see an attractive girl across the room. you open the door for the ladies. you smile like a dream.
you see an attractive girl across the room. You go to a party. . SHE COMES OVER and says. how about it?´ THAT is the power of Branding. I hear you're great in bed. "Hi.
´ . "The aim of marketing is to know and understand the customer so well. the product or service fits him and sells itself.
a paradigm of 21st century .Success or Survival Relationship Marketing.
3. . Emphasis on relationship rather than a transactional approach to marketing Projecting a positive image of the organization among the consumers Extend the principles of relationship marketing in order to enter into diverse market domain Build goodwill in the market. 4.Why Relationship Marketing? 1. 2.
referral sources etc. Create a co-operative and collaborative activities that aimed at enhance mutual economic value of both marketer and customer at reduced cost Positive word of mouth . 7.Why Relationship Marketing? 5. Improve customer satisfaction Enhance brand equity through customer retention and loyalty Maintain parity between internal market and external relationship variables . 9. 6. suppliers. 8.customers.
Change Emphasis on all customer domains and customer retention Relationship Marketing Emphasis on customer acquisition Transactional Marketing Functionality Marketing Cross-functionality based Marketing .
your customers will advocate your product/service to other people Acting as your 'partner' by gaining you new customers Existing customers likely to use your product/service again if they are pleased with the value that you provide Most customers remain loyal not because of promotions or marketing programmes.Making 'partners' of your customers Simple principle if you treat your customers right. but because of the value that they receive .
customer customer customer client Emphasis on new customers (¶customer catching·) Emphasis on developing and enhancing existing relationship (¶customer keeping·) customer prospect .
Making 'partners' of your customers Top part emphasize building relationship with the exiting customer Bottom part emphasizes attracting new customers Complimentary ambitions .
But the will never forget how you made them feel.µ .´They may forget what you said.
Goal of Marketing Long-term Customer satisfaction .
Long-term success Ability to develop and sustain Genuine relationships With customers .
Relationship-based approach to Marketing Expanded view of marketing Responsibility for long-term customer satisfaction and by extension customer relationship Shared across the organization. not just the marketing department .
Customer relationshipbased approach Emotional connection Change of corporate emphasis and culture Business people with investment rather than expense view .
Relationship Marketing .
4. Attract the right customers for the right reasons The most crucial time is the beginning Continually reinforce the decision to buy Good customers expect to be rewarded The second most crucial time is when the relationship is at risk . 5.Principles 1. 3. 2.
Fournier of HBS .Relationship Marketing Prof. Berry 15 years ago Prof.
and promotion Small forms . ´Just how we do thingsµ. . distribution.´nothing specialµ. price.Relationship Marketing Not new Essence Trust & Commitment Mid-20th century view of marketing ² tools pertaining to product.
Getting to ´Myµ ´My hair dresserµ ´My tailorµ ´My mechanicµ Genuine relationship .
repeat buying .Through Customers· Eyes What relationships means from the customer·s perspective As the customer sees and defines them Loyal customers.
Relationship-based marketing Focus on: Customer satisfaction Customer service Value for long-term benefit of the company and customer .
Definition ´ « form of marketing«in which emphasis is placed on building longer term relationships with customers rather than on individual transactions' ´Process of attracting maintaining and in multi service organizations. enhancing customer relationships' .
Definition Loyal customer retained Defensive marketing easier than offensive marketing Defensive marketing attempts to reduce customer turnover and increase customer loyalty .
individualized and value added contracts over a long period of time¶ . through interactive. maintain and build up a network with individual customers and to continuously strengthen the network for mutual benefits of both the sides.Definition ¶Integrated effort to identify.
keeping existing customers happy.Definitions ´«. rather than constantly focusing on attracting new customers Servicing and selling to existing customers just as important as attracting new customers Difficult for to get right. especially large companies with dedicated sales departments focus on getting new sales .
Definition Shift marketing from a "transaction³ orientation" to 'relationship orientation¶ "Holistic marketing" view to achieve customer attraction and retention by a mutual exchange and fulfillment of promises.µ .
Identifying customers Differentiating among them Interacting with them Customizing the products or services to fit each individual customer needs .4 Steps 1. 2. 3. 4.
The Evolution of Marketing .
Early 20th Century Production oriented Little attention paid to what customers want Ready-made goods scarce People willing to buy anything .
1920s Sales orientation Finding customers Little attention to individual customer needs No understanding of the customer Movement of inventory ² ´get it out the doorµ No attention to quality Not encouraging customers to come back .
2. Focus on long-term profitability of the organization .1950s 1. Marketing concept 3 objectives: Customer orientation Coordination and integration of all marketing activities 3.
3. Marketing Mix Product Price Promotion Place ´Toolkitµ view .4 Ps 1. 4. 2.
Stages of Marketing Evolution Stage Emphasis Toolkit Marketing Mix Strategy Understand the customer Service Industries & delivery Culture Customer relationships .
Stages of Marketing Evolution Stage Toolkit Strategy Segmentation Differentiation Competitive advantage Positioning Service Customer interaction Service encounter Service quality Culture Retention Value Referrals Shareholder value Elements Product Advertising Promotion Distribution Price .
The 4 P·s ² a Different view PRODUCT What we offer the customer PROCESSES Systems & activities PERFORMANCE Getting it right PEOPLE Interaction with employees How customer treated .
Payback from Customer Value Creation Value for Customer Customer Satisfaction Customer Relationship Shareholder Value .
4 Rs of Marketing Building customer Relationships Retention Leads to Producing Referrals Recovery And easier .
Value Creation to Loyalty Loyalty Retention Satisfaction Value Repeat buying Referrals Increase share of wallet .
level of service that the customer hopes to receive Zone of Tolerance Adequate Service .Zone of Tolerance Desired Service .level of service that the customer prepared to receive .
Relationship Marketing Strong and lasting relationships with customers and other businesses Strategic orientation .relations fitted better with existing customers than finding new customers Meet needs of each individual customers Explore customer needs .
Relationship Marketing Customers have many choices for the same product or service Customer entitled to a selection decision Difficult for competitors to do well on the market Cost of keeping an old customer only ten percent of the cost of acquiring a new customer .
Marketing Takes day to learn. Unfortunately it takes a lifetime to master Philip Kotler .
Good Luck! . committed citizens can change the world". "Never doubt that a small group of thoughtful. Take the lead and commit to leave a legacy behind.
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