Writer: Kotler and Arm Strong Edition: 17 Course Outline
Writer: Kotler and Arm Strong Edition: 17 Course Outline
Writer: Kotler and Arm Strong Edition: 17 Course Outline
Edition: 17th
Course Outline:
..\..\Course outline Principles
of Marketing.docx
1-1
Chapter -01
• Advertising???
• Bill boards???
• Sales???
• Promotion???
• ORRRR????
4
Goal of Marketing
5
Marketing Process: Create value for customers through
Designing a customer-driven marketing strategy with the goal of getting, keeping, and growing
target customers.
Profit
Sales
Relationship
company earn the rewards of strong customer relationships by capturing value
from customers.
Summary
What Is Marketing?
-
-
creating capturing
value for value from
customers customers
7
Understanding the Marketplace and Customer Needs
Customer Needs, Wants, and Demands
• States of deprivation, Basic Needs,
Needs Foods, Shelter etc…PPP
Maslow Hirarchy of Need
• Reshape by culture-knowledge
Wants • WHY to Buy from BRANDS
1-9
Understanding the Marketplace and Customer Needs
Customer Value and Satisfaction
Customers
• Value and
satisfaction
Marketers
• Set the right
level of
expectations
• Don’t over Claim
1-13
Understanding the Marketplace and Customer Needs
Exchanges and Relationships
Exchange is the act of obtaining a desired object from someone by offering something
in return. (Sales)
Philosophy of Exchange???
• Customer Perspective, Marketer Perspective
Marketing actions try to create, maintain, and grow desirable exchange relationships.
1-11
Understanding the Marketplace and Customer Needs
Markets
Set of actual and potential buyers of a Product or services
1-12
Designing a Customer Value-Driven Marketing Strategy
Selecting Customers to Serve
1-18
Designing a Customer Value-Driven Marketing Strategy
Selecting Customers to Serve
1-19
Designing a Customer Value-Driven Marketing Strategy
Choosing a Value Proposition
A brand’s value proposition is the set of benefits or values it
promises to deliver to customers to satisfy their needs.
Evaluate one of the following value propositions in terms of how well the company
delivers on the proposition
• Facebook helps you “connect and share with the people in your life”
• YouTube “provides a place for people to connect, inform, and inspire
others across the globe.”
1-15
Designing a Customer Value-Driven Marketing Strategy
Marketing Management Orientations
Societal
Production Product Selling Marketing
Marketing
concept concept concept concept
concept
1-16
Designing a Customer Value-Driven Marketing Strategy
Marketing Management Orientations
Production concept:
Consumers will favor products that are available and highly affordable.
• Focuses on improving production and distribution efficiency
• Highly Competitive markets
• Price Sensitive markets
• Low labor cost
Marketing
• High production efficiency
Myopia
• Mass Distribution
1-17
Designing a Customer Value-Driven Marketing Strategy
Marketing Management Orientations
Product concept:
Consumers favor products that offer the most quality, performance, and features.
The focus is on continuous product improvements.
BUT
1-18
Designing a Customer Value-Driven Marketing Strategy
Marketing Management Orientations
Selling concept:
Consumers will not buy enough of the firm’s products unless the firm
undertakes a large-scale selling and promotion effort.
• Focuses on creating sales transactions, sell what the company makes
rather than
on building long-term, profitable customer relationships,
making what the market wants Poor
• They will like it Or, if they don’t like it, assumptions
they will possibly forget their disappointment
and buy it again later
1-19
Designing a Customer Value-Driven Marketing Strategy
Marketing Management Orientations
Marketing concept:
Know the needs and wants of the target markets and deliver the
desired satisfactions better than competitors.
customer focus and value are the paths to sales and profits.
1-20
Designing a Customer Value-Driven Marketing Strategy
Marketing Management Orientations
1-21
Designing a Customer Value-Driven Marketing Strategy
Marketing Management Orientations
Societal marketing:
Marketing decisions should consider
• consumers’ wants
• Company’s requirements
• Consumers’ long-run interests
• society’s long-run interests.
1-24
Building Customer Relationships
Customer Relationship Management
Relationship Building Blocks
1-25
Building Customer Relationships
Customer Relationship Management
Frequency
Basic Relationships Full Partnerships
Marketing
– low-margin – high-margin
Programs – reward
customers customers
customers
1-26
Capturing Value from Customers
Growing Share of Customer
1-27
Capturing Value from Customers
Creating Customer Loyalty and Retention
1-28
Capturing Value from Customers
Building Customer Equity
Customer equity is the total combined customer lifetime
values of all of the company’s customers.
1-29
Capturing Value from Customers
Building Customer Equity
Building the Right Relationships with the Right Customers
Strangers
Show low potential profitability and little projected
loyalty.