Chapter 01 - COMM224 Dr.K.Bykkurt Chapter1 Marketing...

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Principles of Marketing,  Eighth Canadian Edition COMM 224 Dr. K. Büyükkurt Chapter 1 Marketing: Creating and Capturing Customer Value
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Principles of Marketing,  Eighth Canadian Edition Learning Goals 1. Define marketing and outline the marketing  process. 2. Discuss customer relationship management (CRM)  This is actually a sub-topic of item 1 above. 1. Describe the major trends and forces changing the  marketing landscape. 2. Discuss various marketing management  orientations.
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Principles of Marketing,  Eighth Canadian Edition What Is Marketing? •  “ Marketing is a social and managerial process by  which companies create value for customers and  build strong customer relationships to capture value  from customers in return   Process:   – “A series of actions and operations that gradually  generate changes toward a particular result”
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Principles of Marketing,  Eighth Canadian Edition The Marketing Process
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Principles of Marketing,  Eighth Canadian Edition The Marketing Process  (Fig. 1.1) Needs Wants Demands Who will we serve? How will we be different? Marketing Mix Product Price Place Promotion CRM Are we actually creating value? Are our customers satisfied? Customer Lifetime Value Share of Customer Customer Equity
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Principles of Marketing,  Eighth Canadian Edition Marketing Process: 1) Understand the Market  
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Principles of Marketing,  Eighth Canadian Edition Core Concepts Understand the marketplace  and customer wants and  needs Design a customer-driven  marketing strategy Construct a marketing  program that delivers  superior value Build profitable relationships  and create customer delight Capture value from customers  to create profits and customer  quality Understanding the  Marketplace • Need – State of felt deprivation • Wants – The form of needs as shaped  by culture and the individual • Demands – Wants which are backed by  buying power
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Principles of Marketing,  Eighth Canadian Edition Maslow’s Hierarchy of Needs
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Principles of Marketing,  Eighth Canadian Edition This very  successful  campaign  reminds the  consumer of  a need
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Principles of Marketing,  Eighth Canadian Edition Understanding the  Marketplace • Market offering – Combination of  products, services,  information or  experiences that  satisfy a need or  want – Offer may include  services, activities,  people, places,  information or ideas Core Concepts Understand the marketplace  and customer wants and  needs (cont.) Design a customer-driven  marketing strategy Construct a marketing  program that delivers  superior value Build profitable relationships  and create customer delight Capture value from customers  to create profits and customer  quality
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This note was uploaded on 10/31/2011 for the course COMM 224 taught by Professor Pearce during the Spring '08 term at Concordia Canada.

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Chapter 01 - COMM224 Dr.K.Bykkurt Chapter1 Marketing...

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