Kotler12e_basic-01 - 1 PrinciplesofMarketing...

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Marketing: Managing Profitable  Customer Relationships 1 1 Principles of Marketing
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What Is Marketing? Marketing Defined Marketing  is the process by which companies  create value for customers and build strong  customer relationships to capture value from  customers in return.
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What Is Marketing? The Marketing Process 1. Understand the marketplace and customer wants  and needs 2. Design a customer-driven marketing strategy 3. Construct a marketing plan that delivers superior  value 4. Build profitable relationships and create customer  satisfaction 5. Capture value from customers to create profit and  customer equity
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Understanding the Marketplace and Customer Needs Customer Needs, Wants, and Demands Needs  are states of deprivation, The states of  mind Physical—food, clothing, warmth, safety Social—belonging and affection Individual—knowledge and self-expression
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Understanding the Marketplace and Customer Needs Customer Needs, Wants, and Demands Wants  are the form that needs take as they are shaped by  culture and individual personality. When we can define  or understand the physical object that can make  solution to our need is Want.  Demands  are wants backed by buying power. To be  demand the affordability of the customers and  willingness to pay for any product is important.
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Understanding the Marketplace and Customer Needs Market Offerings—Products, Services, and Experiences Market offerings  are some combination of  products, services, information, or  experiences offered to a market to satisfy a  need or want.   - Physical products, services, experience, events,  person, place, ideas, Info. or properties.
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Understanding the Marketplace and Customer Needs Exchanges and Relationships Exchange  is the act of obtaining a desired  object from someone by offering  something in return. Relationships  consist of actions to build and  maintain desirable relationships by  delivering superior value to the customers. 
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Understanding the Marketplace and Customer Needs Markets  are the set of actual and potential buyers of a  product. Marketing system 
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Kotler12e_basic-01 - 1 PrinciplesofMarketing...

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