Homework- Personalized brand nametag, choose a company, go to scu homepage watch the B2B
Someone becomes a customer when you repeatedly satisfy a customer; buys the
second time. An exchange is created.
is measured by
profit, market share, growth, shareholders equity, EPS, image/rep,
customer satisfaction, employee satisfaction, partner satisfaction, contribution to society,
product value and quality
What is marketing?
Traditionally, it was product, price, place, promotion.
In 1990s, consumer wants, cost to satisfy, convenience to buy, communication.
2000s, buyer want rule, segment/target (satisfaction, instantly, participation, interaction,
engagement), best price (value) anywhere, savings, FREE, buying anytime, anywhere, any way,
Branding, publishing, direct communication and availability, accessible, searchable accurate
complete info, engagement
– the first step toward a successful company; how companies must
operate. The whole company working together to achieve the ultimate objective of a satisfied
customer. Focusing on and understanding customers needs and wants. Coordinating all
components of the company toward satisfying those wants, and integrating all decisions to that
Obstacles to integrated mktg –
intra-company communications – sharing info. Company-wide
commitment, internal competition, ownership, and management egos, lacks of strong leadership.
Marketing’s role in strategic planning –
Guiding philosophy, inputs to strategic planners,
designs strategies. Marketing is one in touch with the customer, must negotiates with engineering
and customer, to figure out what they want, and what can be made
Marketing according to Peter Drucker –
Marketing is not really a separate function at all.
Henry Ford –
A company that makes nothing but money is a poor kind of business.
Mktg Mgmt –
The process of analyzing, planning (ID swot’s, setting objectives, developing
strategies and tactics), executing better than competition, Measuring
Maslows hierarchical mode of human motivations:
Self actualization (individual)
Esteem, peer recognition (individual)
Belonging, friendship, love (social)
Safety and security (physical)
Food, drink, shelter (physical)
Marketing wants –
Wants are subconscious components that govern our behavior. Examples:
Variety, to feel important, not to fail, acceptance, recognition, satisfaction, value
The concept of needs and wants –
Marketing-driven companies seek to develop and sustain on-goin, long term relationships
Relationships through value, satisfaction and engagement
Marketing reflects societal trends, tendencies and values