CHAPTER 1:

MARKETING
Creating Customer Value and
Engagement
 Objectives Outline
01 02 03

Objective 1-1 Objective 1-2 Objective 1-3

What Is Marketing? Understanding the Marketplace and Designing a Customer Value–
Customer Needs Driven Marketing Strategy and
Plan

04 05

Objective 1-4 Objective 1-5

Managing Customer Relationships and The Changing Marketing Landscape (pp
Capturing Customer Value 46–55)
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Jenna Doe Joe Williams Tim Jimmy

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What is Marketing
 Definition
 Aim
 Five steps in the marketing process
 1. What is Marketing
Definition
Marketing is engaging
customers and managing
profitable customer
relationships
Aim
Create value for customers and
capture value from customers in
return
Five steps in the
marketing process
● Understand the marketplace and customer needs and
wants
● Design a customer value - driven marketing strategy
● Construct an integrated marketing program that delivers
superior value
● Engage customers, build profitable relationships, and
create customer delight
→ Capture value from customers to create profits and
customer equity
 02
Marketplace and
Customer needs
2.1 Customer Needs, Wants, and
Demands
● Needs: states of felt deprivation

● Wants: the form human needs take as they are

shaped by culture and individual personality. 

● Demands: are humans wants that are by

buying power
2.2 Market Offerings—Products,
Services, and Experiences

● Market Offerings: Some combination of

products, services, information, or
experiences offered to a market to satisfy
a need or want.
● Marketing myopia: The mistake of
paying more attention to the specific
products a company offers than to the
benefits and experiences produced by
these products.
 2.3. Customer Value and Satisfaction

● Customer Value and Satisfaction are key building blocks for

developing and managing customer relationships.

● Satisfied customers: buy again and tell others about their

good experiences.

● Dissatisfied customers: switch to competitors and disparage

the product to others.

→ Marketers must be careful to set the right level of

expectations
 03
Designing a Customer
Value
Driven Marketing Strategy and Plan
3. Designing a Customer Value
Driven Marketing Strategy and
Plan
 Marketing management: The art and science of
choosing target markets and building profitable
relationships with them.

 Two important questions: What customers will we

serve (what’s our target market)? and How can we
serve these customers best (what’s our value
proposition)?
3. Designing a Customer Value
Driven Marketing Strategy and
Plan
 Value proposition :
● Production concept
● Product concept
● Selling concept
● Marketing concept

 Preparing an Integrated Marketing Plan and

Program
Product, price, place, and promotion
 Managing Customer
04 Relationships and Capturing
Customer Value
4. Managing Customer Relationships and
Capturing Customer Value
 Customer Relationships is the overall process of
building and maintaining profitable customer
relationships by delivering superior customer value
and satisfaction

 Capturing Value from Customers

● Creating Customer Loyalty and Retention
● Growing Share of Customer
● Building Customer Equity

→ Building the Right Relationships with the Right

Customers
 5.1. The Digital Age
Online, Mobile, and Social Media Marketing

The 5.2. The Changing Economic

Environment
Changing
05 Marketing
5.3. The Growth of Not-for-
Profit Marketing
5.4. Rapid Globalization

Landscape 5.5. Sustainable Marketing

The Call for More Environmental and Social
Responsibility