Marketing Management-Slides.ppt - Welcome To Marketing Management Chapter 1 Understanding Marketing Management Marketing Myths Realities Marketers

Marketing Management-Slides.ppt - Welcome To Marketing...

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Welcome To Marketing Welcome To Marketing Management Management Chapter 1 Understanding Marketing Management
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Marketing Marketing Myths & Realities: Myths & Realities: Marketers Responsibilities Creating Customer Value Customer value is the amount of benefits which customers get from purchasing products and services. It can also be defined as the difference between the values customer gains from using a product and cost of the product. Customers evaluate the trade-off between the benefits they are acquiring and the price they are paying for those benefits. Customer value can be shown as an equation as below: Customer Value = Total Customer Benefits – Total Customer Costs Customer value is high if the customer gains more benefits as compared to the cost of product and services and customer value is low if the customer gains fewer benefits as compared to the product and services cost. For Example, customer value of Dell laptops and computers are high in view of its customers. Dell products’ quality, efficiency, brand, delivery and after sale service are the benefits for buyers and definitely it pays more than cost of the product and services.
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Cont… Cont… Delivering Customer Satisfaction Human beings always build some expectation in their mind about person, place, product, services, etc. In marketing, buyer has expectation with the product which he or she is going to purchase. The buyer’s expectation about product comes from marketing, word of mouth or brand reputation. Buyer will be satisfied if the product meets or exceed expectations. Buyer will be dissatisfied if the product does not meet the expectation which buyer had set in his mind before buying it. Difference Between Seller and Marketer Selling: Short Term Objectives Marketing: Long Term Objectives
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Difference Between Customer Value & Customer Value & Customer Satisfaction Customer Satisfaction
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Cont… Cont…
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Management: Management: Its Applications in Contemporary Its Applications in Contemporary Settings Settings The process of analyzing, planning, implementing and controlling programs designed to create, build and maintain beneficial exchanges with the target Market in order to solve their problems and give them satisfaction for achieving organizations financial and commercial objectives.
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Cont… Cont…
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Cont… Cont… Satisfaction Balance between Expected Performance, Actual Performance Commercial & Financial Objectives Increase Sales / Higher Revenues Increase Shares in the Growth of the Industry / Breakeven points OR Average Profit Maximize Market Share / Maximize Profit Margin
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The Scope of Marketing The Scope of Marketing Places Properties Organizations Information Ideas Goods Services Experiences Events Persons
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Cont… Cont… Goods: Physical goods constitute the major part of a country’s production and marketing effort. Companies market billions of food products, and millions of cars, refrigerators, television and machines.
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