CB12ech12 - Chapter 12 Customer -Dr iven M ar keting L e a...

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Unformatted text preview: Chapter 12 Customer -Dr iven M ar keting L e a r n i n g G o a l s Summarize the ways in which marketing creates utility. Explain the marketing concept and relate how customer satisfaction contributes added value. Describe not-for-profit marketing, and identify the five major categories of nontraditional marketing. Outline the basic steps in developing a marketing strategy. Describe the marketing research function. Identify and explain the methods available for segmenting consumer and business markets. Outline the determinants of consumer behavior. Discuss the benefits and tools for relationship marketing. 1 2 3 4 5 6 7 8 WHAT IS MARKETING? Marketing Organizational function and set of processes for creating, communicating, and delivering value to customers and for man- aging customer relationships in ways that benefit the organization and its stakeholders. Best marketers not only give consumers what they want but even anticipate consumers needs before those needs surface. Create a link in consumers minds between the new need and the fulfillment of that need by the marketers products. Exchange process Activity in which two or more parties give something of value to each other to satisfy perceived needs. How Marketing Creates Utility Utility Want-satisfying power of a good or service. Marketing function can create three kinds of utility: Create time utility by making a good or service available when customers want to purchase it. Create place utility by making a product available in a location convenient for customers. Create ownership utility through an orderly transfer of goods and services from the seller to the buyer. Can create all three. Fastest trend in casual dining (Applebees, Ruby Tuesday) is offering curbside service, which combine all three. EVOLUTION OF THE MARKETING CONCEPT Emergence of the Marketing Concept E Marketing concept Company-wide consumer orientation to promote long-run success. Firm starts with analysis of customers needs and works backward to offer products that fulfill them. Explained by shift from sellers market in which goods and services are relatively scarce to buyers market in which they are relatively plentiful. Delivering Added Value Through Customer Satisfaction and Loyalty Firm starts with analysis of customers needs and works backward to offer products that fulfill them. p Customer satisfaction Ability of a good or service to meet or exceed a buyers needs and expectations. Increasing customer loyalty just five percent equals significant increases in lifetime profits per customer....
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CB12ech12 - Chapter 12 Customer -Dr iven M ar keting L e a...

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