MarketingBasL1ht08 - 080901 Marketing Lecture 1...

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08‐09‐01 1 Marketing Lecture 1 Understanding marketing Today Core concepts of marketing Company orientation Marketing mix Marketing strategies Understanding marketing What Is Marketing? Marketing is the process by which companies create value for customers and build strong customer relationships to capture value from customers in return
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08‐09‐01 2 Understanding the Marketplace and Customer Needs Customer Needs, Wants, and Demands Needs are states of deprivation Physical—food, clothing, warmth, safety Social—belonging and affection Individual—knowledge and self- expression Understanding the Marketplace and Customer Needs Customer Needs, Wants, and Demands Wants are the form that needs take as they are shaped by culture and individual personality Demands are wants backed by buying power Understanding the Marketplace and Customer Needs Market offerings are some combination of products, services, information, or experiences offered to a market to satisfy a need or want
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08‐09‐01 3 Understanding the Marketplace and Customer Needs Marketing myopia is focusing only on existing wants and losing sight of underlying consumer needs Company Product Definition Market Definition Xerox We make copying equipment We help improve office productivity Standard Oil We sell gasoline We supply energy Columbia Pictures We make movies We market entertainment Carrier We make air conditioners and furnaces We provide climate control in the home Understanding the Marketplace and Customer Needs Exchange is the act of obtaining a desired object from someone by offering something in return Understanding the Marketplace and Customer Needs Customer Value and Satisfaction Expectations Customers Value and satisfaction Marketers Set the right level of expectations Not too high or too low
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08‐09‐01 4 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 Relationships consist of actions to build and maintain desirable relationships Understanding the Marketplace and Customer Needs Markets are the set of actual and potential buyers of a product Marketing system consists of all of the actors (suppliers, company, competitors, intermediaries, and end users) in the system who are affected by major environmental forces Demographic Economic Physical Technological
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  • Spring '07
  • anna
  • Marketing, Companywide Strategic Planning, Marketing Management Marketing management, Strategic Planning Defining Marketing’s Role

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