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BP Understanding Strategic Marketing 2 .STRATEGIC MARKETING Week 2nd. Wednesday. 6th October 2010 1) 10:00 -10:50 Lecture 1 2) 11:00 -11:50 Lecture 2 3) 12:00 -12:50 Assignment.

The 4 Ps & 4Cs Marketing Influences Marketing Mix Product Convenience Place Customer Solution Price Customer Cost Promotion Communication 3 .

Marketing Excellence Framework 4 .

Sales & Marketing ? Sales trying to get the customer to want what the company produces Marketing trying to get the company produce what the customer wants 5 .Difference Between .

Scope What do we market Goods Services Events Experiences Personalities Place Organizations Properties Information Ideas and concepts 6 .

Utility. Marketers & Marketplace. Marketing.Core Concepts of Marketing Based on : Needs. 7 . Desires / demand Products. Wants. Transactions & Relationships Markets. Value & Satisfaction Exchange.

wants demands Products Utility.Core Concepts of Marketing Needs. Transaction Relationships 8 . Value & Satisfaction Markets Marketing & Marketers Xchange.

Core Concepts of Marketing Need ± food ( is a must ) Want ± Pizza. French fry's ( translation of a need as per our experience ) Demand ± Burger ( translation of a want as per our willingness and ability to buy ) Desire ± Have a Burger in a five star hotel 9 . Burger.

Understand Marketing Marketing Triangle 3Cs Competition 10 Customers Company .

Anyone who is in the market looking at a product / service for attention. use or consumption that satisfies a want or a need 11 . acquisition. . . . .Who is a Customer ?? CUSTOMER IS .

demands and desires Understanding these needs is starting point of the entire marketing These needs.Customer ± CUSTOMER has needs. wants. wants «« arise within a framework or an ecosystem Understanding both the needs and the ecosystem is the starting point of a long term relationship 12 .

 Performance > Expectations => Satisfaction  Performance < Expectations => Dissatisfaction 13 .How Do Consumers Choose Among Products & Services? Value .Based on a comparison of performance and expectations. Satisfaction .the value or benefits the customers gain from using the product versus the cost of obtaining the product.

Problem Solution As a priority . we must bring to our customers ³WHAT THEY NEED´ We must be in a position to UNDERSTAND their problems Or in a new situation to give them a chance to AVOID the problems 14 .Customers .

Customer looks for Value Value Benefit Cost = Benefit / Cost = Functional Benefit + Emotional Benefit = Monetary Cost + Time Cost + Energy Cost + Psychic Cost 15 .