summary-principles-of-marketing-kotler-armstrong (2).pdf -...

This preview shows page 1 - 4 out of 46 pages.

StuDocu is not sponsored or endorsed by any college or universitySummary Principles of Marketing Kotler & ArmstrongMarketing management (Hogeschool Utrecht)StuDocu is not sponsored or endorsed by any college or universitySummary Principles of Marketing Kotler & ArmstrongMarketing management (Hogeschool Utrecht)Downloaded by Phúc Hoàng ([email protected])lOMoARcPSD|4284219
PRINCIPLES OF MARKETINGChapters 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 16, 17, 18STRATEGIC ADVERTISEMENT MANAGEMENTChapters 1, 3, 6, 7, 8, 9, 10, 12, 13, 15,PRINCIPLES OF MARKETING: CHAPTER 1 Marketing = managing profitable customer relationships. (Attract new customer by promising superior value and keep and grow current customers by delivering satisfaction) Marketing process = the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. Marketing process: 1.Understand the marketplace and customer needs and wants 2.Design a customer-driven marketing strategy 3.Construct an integrated marketing program that delivers superior value 4.Build profitable relationships and create customer delight 5.Capture value from customers to create profits and customer equity 1. Understanding the marketplace and customer needs: a.Needs = states of felt deprivation b.Wants = the form human needs take as they are shaped by culture and individual personality c.Demands = Human wants that are backed by buying power d.Market offerings = some combination of products, services, information or experiences offered to a market to satisfy need of want. e.Marketing myopia = the mistake of paying more attention to the specific product a company offers than to the benefits and experiences produced by these products. f.Exchange = the act of obtaining a desired object from someone by offering something in return g.Market = the set of all actual and potential buyers of a product or service Downloaded by Phúc Hoàng ([email protected])lOMoARcPSD|4284219
2. Designing a customer-driven marketing strategy a.Marketing management = the art and science of choosing target markets and building profitable relationships with them. b.Selecting customers to serve c.Choosing a value proposition d.Production concept = the ideas that consumers will favour products that are available and highly affordable and that the organization should therefore focus on improving production and distribution efficiency. e.Product concept = the idea that consumers will favour products that offer the most quality, performance and features and that the organization should therefore devote its energy to making continuous product improvements. f.Selling concept = the idea that consumers will not buy enough of the firm’s products unless it undertakes a large-scale selling and promotion effort g.Marketing concept = a philosophy that holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do.

Upload your study docs or become a

Course Hero member to access this document

Upload your study docs or become a

Course Hero member to access this document

End of preview. Want to read all 46 pages?

Upload your study docs or become a

Course Hero member to access this document

Term
Spring
Professor
Ha Cong Anh Bao
Tags
Marketing, Ph c Ho ng

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture