Chapter 1 -Marketing-Creating-and-Capturing-Customer-Value.pdf

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Chapter 1Marketing:Creating and Capturing Customer ValuePrinciples of Marketing _ Lai Vinh Phuc, MBA
Content:I. What Is Marketing?II. Marketing Process:1. Understanding the Marketplace and Customer Needs2. Designing a Customer-Driven Marketing Strategy3. Preparing an Integrated Marketing Plan and Program4. Building Customer Relationships5. Capturing Value from CustomersIII. The Changing Marketing LandscapePrinciples of Marketing _ Lai Vinh Phuc, MBA
I.What Is Marketing?Marketing isa process by which companies create value for customers,and build strong customer relationships to capture value from customersin return.Goal:- Attract new customer by promising superior value- Keep existing customer by delivering satisfactionPrinciples of Marketing _ Lai Vinh Phuc, MBA
AMA definition:Marketing as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.I.What Is Marketing?Principles of Marketing _ Lai Vinh Phuc, MBA
II.Marketing ProcessFigure 1.1: Simple Model of Marketing ProcessPrinciples of Marketing _ Lai Vinh Phuc, MBA
6II.Marketing ProcessPrinciples of Marketing _ Lai Vinh Phuc, MBA
States of deprivationPhysical—food, clothing, warmth, safetySocial—belonging and affectionIndividual—knowledge and self-expressionNeedsForm that needs take as they are shaped by culture and individual personalityWantsWants backed by buying powerDemandsa)Customer Needs, Wants, and Demands:1.Understanding the Marketplace and Customer NeedsPrinciples of Marketing _ Lai Vinh Phuc, MBA
What is the difference between needs, wants and demands?Can marketers create needs, wants and demands?1.Understanding the Marketplace and Customer NeedsPrinciples of Marketing _ Lai Vinh Phuc, MBA
Market offerings are some combination of products, services, information, or experiences offered to a market to satisfy a need or want.Marketing myopia is the mistake of paying more attention to a specific product offered by a company than the benefits and experiences produced by that product.

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