Mkt 2012 Topic 1

Mkt 2012 Topic 1

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Unformatted text preview: mand 1 - 27 Marketing Management Marketing Management 張 Management Orientations • Production Concept • Selling Concept Selling • Product Concept • Marketing Concept • Societal Marketing Concept Societal 1 - 28 Evolution of Marketing Philosophies 1. Production Concept 5. Societal Marketing Concept 4. Marketing Concept Key Marketing Concepts 2. Product Concept 3. Selling Concept 1 - 29 Marketing Management Orientation • Production Concept China shoe and cloth industries before China 1978 1978 100 Yen and $10 dollar shops • Product Concept Wireless Router Laser Printer 1 - 30 Marketing Management Orientation • Selling Concept (inside out) I-Cable, Broadway Dissatisfaction customers may not buy Dissatisfaction again again • Marketing Concept (outside in) Customer and experience focus Customer Internet Banking, CX, Samsung, IPad, I-Phone, PS Vita 1 - 31 Starting Point Focus Means Ends Factory Existing Products Selling/ Promoting Profits via Volume The Selling Concept Market Customer Integrated Needs Marketing Profits via Satisfaction The Marketing Concept 1 - 32 Marketing Management Orientation • Social Marketing Concept Environmental protection and concern Pollution and toxic material Pollution Nutrition and heath consciousness “Return” to community McDonald, Starbucks, Park’n Shop HK vs. Chinese vs. Japanese companies 1 - 33 CRM • CRM – Customer relationship management . . . management Is not our traditional Asian/Chinese type of Is Guanxi relationship management!! Guanxi “Is the overall process of building and Is maintaining profitable customer relationships by delivering superior customer value and satisfaction.” customer 1 - 34 CRM ltv 張 • It costs 5 to 10 times MORE to attract a It new customer than it does to keep a current customer satisfied. current • Marketers must be concerned with the Marketers lifetime value (LTV) of the customer. lifetime 1 - 35 Acquisition Emphasis Retention Emphasis Gain 6 new customers Gain ($500 each) ($500 $3,000 Gain 3 new customers Gain ($500 each) ($500 $1,500 Retain 5 current customers Retain ($100 each) ($100 $ 500 500 $2,000 Total cost $3,500 Total cost Total number of customers Retain 20 current customers Retain ($100 each) ($100 11 Total number of customers 11 $3,500 23 23 Maximizing Number of Customers Source: Adapted from Peppers and Rogers (1996) 1 - 36 Changes from the Traditional Marketing Thinking to the New Marketing Thinking Old Marketing Old Thinking Thinking New Marketing Thinking New Discrete transactions Continuing transactions Continuing Short-term emphasis Long-term emphasis One-way communication Two-ways Two-ways communication and collaboration and Acquisition focus Retention focus Market share Wallet share Wallet Product differentiation Product Customer differentiation 1 - 37...
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This note was uploaded on 09/16/2013 for the course BUSI 1004 taught by Professor Ymng during the Fall '11 term at HKU.

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