POMKT Kamran..ppt - Principles of Marketing Chapter 1:Marketing in a changing world creating customer value and satisfaction Principles of Marketing

POMKT Kamran..ppt - Principles of Marketing Chapter...

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Principles of Marketing Chapter 1:Marketing in a changing world: creating customer value and satisfaction
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Principles of Marketing Definition Marketing is delivery of customer satisfaction at profit. Marketing is a social and managerial process whereby individuals and groups obtain what they need and want through creating and exchanging products and value with other.
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Principles of Marketing Core Marketing Concepts Needs, wants and demands Markets Exchange transactions and relationships Value, satisfaction and quality Products and services Needs: A state of felt deprivation Wants: The form taken by a human need as shaped by culture and individual personality. Demands: Human wants that are backed by buying power. Products: Anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need. Services: Any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything.
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Principles of Marketing Customer Value: The difference between the values the customer gains from owning and using a product and the cost of obtaining the product. Customer Satisfaction: The extent to which a product’s perceived performances matches with buyer’s expectations. (Dissatisfied, satisfied or delighted) Quality: Quality impacts directly on customer satisfaction. --- TQM --- Exchange: The act of obtaining a desired object by offering something in return. Transaction: A trade between two parties that involves at least two things of value, agreed upon conditions, time and place of agreement. Relationship Marketing: Process of creating, maintaining and enhancing strong, value- laden relationships with customers and other stockholders. Markets: Set of all actual and potential buyers of a product or service. Industry (a collection of sellers) Market (a collection of buyers) Products - services Money Information
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Principles of Marketing Marketing Management Marketing management is the art and science of choosing target markets and building profitable relationships with them What customers will we serve? How can we best serve these customers? Demand Management: No demand Adequate demand Irregular demand Too much demand Demarketing Efforts to reduce demand temporarily or permanently: aim is not to destroy demand but only to reduce or shift demand. Profitable customer relationships Marketing Management Practice Entrepreneurial marketing Formulated marketing Intrepreneurial marketing
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Principles of Marketing Demand States Demand States 1. Negative demand 2. No demand 3. Latent demand 4. Irregular demand 5. Full demand 6. Overfull demand 7. Decline Demand 8. Unwholesome demand
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Principles of Marketing Contd. Marketing Management Marketing Management Philosophies Production concept Products should be available and affordable Enhance production and distribution Product concept Quality, performance and features.
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  • Fall '16
  • faheem

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