Course Hero Logo

Chapter_1Chick-Fil-A - 1. Marketing a. “Paradigm” – World...

Course Hero uses AI to attempt to automatically extract content from documents to surface to you and others so you can study better, e.g., in search results, to enrich docs, and more. This preview shows page 1 - 4 out of 7 pages.

1.Marketinga.“Paradigm” – World Viewb.Marketing Management Orientationsi.Production Conceptii.Product Conceptiii.Selling Conceptiv.Marketing Conceptv.Societal Marketing Concept2.Lego Casea.Current Situation - Very Successfulb.Why do children like LEGO toys? - Func.Why do parents like LEGO toys? - Educational and Stimulates Thinkingd.What business are they in? - Fun Activitye.Lessons Learned3.Marketing Myopiaa.The mistake of paying more attention to the specific products a company offersthan to the benefits and experiences produced by these products.4.Marketinga.Involves creating value for customers and building strong customer relationshipsin order to capture value from customers in return.b.Goals:i.Attract new customers by promising superior valueii.Keep and grow customers by delivering satisfaction5.The Marketing Process6.Customer Needs, Wants, and Commandsa.Needsi.States of felt deprivationii.Physical needs – Food, clothing, warmth, and safetyiii.Social needs – Belonging and affectioniv.Individual needs – Knowledge and self-expressionb.Wantsi.Form taken by human needs when shaped by culture and individualpersonalityc.Demandsi.Human wants that are backed by buying power7.Marketing Offeringsa.Combination of products, services, information, or experiencesi.Offered to a market to satisfy a need or wantii.Entities – products, services, persons, places, organizations, information,and ideas8.Customer Value and Satisfaction
a.Customers form expectations about the value and satisfaction of marketofferings.i.Satisfied customers buy again and spread the word.ii.Dissatisfied customers switch to competitors and criticize the product toothers.b.Setting low expectations may satisfy those who buy but fail to attract enoughbuyers.c.Setting high expectations may disappoint buyers.d.Satisfaction and DELIGHT9.Exchanges and Relationshipsa.Exchangeis the act of obtaining a desired object from someone by offeringsomething in return.b.Marketing consists of creating, maintaining, and growing desirable exchangerelationshipswith target audiences.i.Marketers build strong relationships by consistently delivering superiorcustomer value.c.Customer Engagement Marketingi.Intrusion: NOii.Attraction: YES10. Customer-Driven Marketing Managementa.Marketing management: Choosing target markets and building profitablerelationships with themb.Basic factors to design a winning marketing strategy:i.Target marketii.Value proposition11. An Expanded Model of the Marketing Process
12. Applying Theory to Practicea.Case Discussion – Chick-Fil-Ai.No chicken in the advertisementii.Focus was on the benefits they provideiii.Delight Customersb.Popeyesi.Focuses a lot more on the foodChapter 1 Textbook1.What is Marketinga.

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 7 pages?

Upload your study docs or become a

Course Hero member to access this document

Term
Fall
Professor
N/A
Tags
Marketing, b Marketing Management Orientations, c Customer Engagement Marketing

Newly uploaded documents

Show More

Newly uploaded documents

Show More

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture