AEM 240 8.29 - AEM 240 Five Key Concepts in...

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8/29/07 AEM 240 Five Key Concepts in Marketing (continued) Selling vs. Marketing Emphasis on product Emphasis on customer wants Company makes product then tries to sell it Company determines customer’s wants then makes product Management is sales- volume oriented Management is profit oriented Planning is short-run oriented Planning is long-run oriented Stresses needs of sellers Stresses wants of buyers “Marketing is the whole business seen from the customer’s point of view” (a useful quote to show the difference from sales) Customer Satisfaction Profit Sales Market share Quality Social responsibility Employee welfare & involvement Customer satisfaction Produced via Encouraging Employee Involvement Internal marketing – employees as customers Training & education Teamwork Employee empowerment (giving employees the authorities to make decisions) o Internal marketing is marketing to employees (which will work to satisfy customers) Why “Customer Satisfaction”?
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Unformatted text preview: • Satisfaction leads… to loyalty… to sales… to (perhaps) profits • VERY satisfied customers are precious… they are “apostles!” • VERY dissatisfied customers are “terrorists!” Marketing Mix Factors • Product • Price • Promotion • Place-These are all controllable factors “Practice” Viewpoint Sounds like the “marketing concept” is the Holy Grail, anyone who does not subscribe must live in the Dark Ages… What is wrong with it: Marketing problems • Marketing Myopia o we have a narrow vision of the marketplace and we look at the products too precisely • Costs of information exceed revenues generated • Researchers learn expressed needs o Consumers not visionary, misleading, technologically naïve – DANGER in being “too” customer oriented o Consumers can be plain wrong! • Passion for customers? What about employees? • Macro Changes...
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  • Summer '07
  • Marketing, marketing mix factors, Product Company, Encouraging Employee Involvement

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