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Slide 1
 Chủ đề 1.4

 Requirements of a Market
 Must need or desire a particular product
 Must have the ability to purchase the product
 Must be willing to use their
buying power
 Must have the authority to
buy specific products
 Types of Markets
 Consumer markets
 Purchasers and individuals in households
 Purchases are for personal consumption, not profit
 Business markets
 Individuals and groups that purchase products for resale,
direct use to produce other products, or use in daily
business operations
 Purchasers classed as producers, resellers, government, and
institutional markets
 Homogenous: • Large proportion of customers
have similar needs for a product. (salt, sugar,
milk, gas,)
 Heterogeneous: • Customers have diverse needs
for products in a specific product class
(Computers -laptops vs desktops; Macs vs. PCs)

Slide 20
 Chủ đề 1.5

 the set of benefits or values it promises to deliver

to consumers to satisfy their needs.
 CUSTOMER VALUE
- Definition and formula:
Customer Value is the perception of what a product or service is worth to
a Customer versus the possible alternatives. Worth means whether the
Customer feels s/he or he got benefits and services over what s/he
paid

(CV=B-C)
 Customer value creation
-
 Giving a price that makes the Customer believe he is getting more than he pays for
the benefits he gets versus competitive offers
 Reducing the price, or keeping the same price and giving something extra over
competition (this could be service, better attention, an add on to the product)
 Making it convenient for the Customer to buy, and how he wants to buy and pay.
 For B2B getting a proper price justification, not just a price
 The image of the company, including the brand and the trust in the company or
when the Customer appreciates the Values of the company including sustainability.
These create Value for the Customer.
 Gift offering, guarantee, customer care
 Definition
- A strategy for managing an organisation's relationships and
interactions with customers and potential customers. A CRM
system helps companies stay connected to customers,
streamline processes, and improve profitability .

 the overall process of building and maintaining profitable

customer relationships by delivering superior customer value
and satisfaction. It deals with all aspects of acquiring,
engaging, and growing customers.
 Relationship marketing
a strategy designed to foster customer loyalty, interaction and long-term
engagement. It is designed to develop strong connections with customers
by providing them with information directly suited to their needs and
interests and by promoting open communication (forbes 2014)
Relationship Building Blocks: Customer Value and
Satisfaction. The key to building lasting customer relationships is
to create superior customer value and satisfaction.
Satisfied customers are more likely to be loyal customers and give
the company a larger share of their business
 1. Customer service
- Make customer satisfaction a part of your company’s values
- Create awareness in your organization
- Make customer satisfaction a priority
- Reward employees who deliver high customer satisfaction
- Share customer success
2, Content and customer education
- Block, video content, send email new letters
- .
3. Loyalty program: a special discount for the products customers purchase, or a
simple point system, which is the most common loyalty program methodology
4. Gathering feedback
- listen to their critical opinion.
- how you handle the whole situation

Slide 27
 Customer life-time value
A prediction of all the value a business will derive from their entire
relationship with a customer.

The Pareto Principle states that, for many events, roughly 80% of the effects
come from 20% of the causes. When applied to e-commerce, this means
that 80% of your revenue can be attributed to 20% of your customers.

Slide 28
Customer equity:
The total combined customer lifetime values of
all of the company’s current and potential
customers.

Building the Right Relationships with the Right

Customers: View customer as assets that needed
to be managed and maximized
Creating and capturing
customer value

Slide 30
IMPORTANCE OF MARKETING IN
GLOBAL ECONOMY Chủ đề 1.3

Slid
Quiz and Discusssion on given topic