kotler01_basic - Marketing: Managing Profitable Customer...

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Unformatted text preview: Marketing: Managing Profitable Customer Relationships Chapter 1 1 - 2 Learning Goals 1. Define marketing and the marketing process. 2. Explain the importance of understanding customers and identify the five core marketplace concepts 3. Identify the elements of a customer-driven marketing strategy and discuss the marketing management orientations. 4. Discuss customer relationship management and creating value for and capturing value from customers 5. Describe the major trends and forces changing the marketing landscape 1 - 3 Creating Value Create compelling blend of live racing events, media coverage and Web sites. Go out of its way to show the customer a good time. Create wholesome family- oriented environment NASCAR What is its secret? Case Study Capturing Value Fans spends nearly $700 a year on NASCAR merchandise Second highest regular season sport on TV NASCAR attracts over 250 big-name sponsors 1 - 4 What is Marketing? Marketing Defined: Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging value with others Marketing is about managing profitable customer relationships Attracting new customers Retaining and growing current customers Goal 1: Define marketing and the marketing process. 1 - 5 The Marketing Process A Five-Step Process 1. Understand the marketplace and customer needs and wants 2. Design a customer-driven marketing strategy 3. Construct a marketing program that delivers superior value 4. Build profitable relationships and create customer delight 5. Capture value from customers to create profits and customer quality Goal 1: Define marketing and the marketing process. 1 - 6 Understanding the Marketplace Needs, wants, and demands Marketing offers: including products, services and experiences Value and satisfaction Exchange, transactions and relationships Markets Need State of felt deprivation Example: Need food Wants The form of needs as shaped by culture and the individual Example: Want a Big Mac Demands Wants which are backed by buying power Core Concepts Goal 2: Identify the five core marketplace concepts. 1 - 7...
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This note was uploaded on 03/23/2012 for the course MARKETING 204 taught by Professor A.s during the Spring '12 term at Lahore School of Economics.

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kotler01_basic - Marketing: Managing Profitable Customer...

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