Principles of Marketing Chapter 1
Chapter 1
1
• Define marketing and outline the steps in the marketing process • Explain the importance of understanding customers and the marketplace, and identify the five core marketplace concepts • Identify the key elements of a customer-driven market strategy and discuss the marketing management orientations that guide marketing strategy. • Discuss customer relationship management and identify strategies for creating value for customers and captures value from customers in return. • Describe the major trends and forces that are changing the market landscape in this age of relationships.
2
1. What Is Marketing?
2. Understand the Marketplace and Customer Needs
5. Building Customer Relationships
3. Designing a Customer-driven Marketing Strategy
6. Capturing Value from Customers
4. Preparing an Integrated Marketing Plan and Program
7. The Changing Marketing Landscape
8. So, what is marketing? Pull it all together.
3
What is Marketing?
4
• Broadly defined: Marketing is a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others. • In a narrow business context, marketing involves building profitable, value-laden exchange relationships with customers.
5
• Marketing is a process by which companies create value for customers and build strong customer relationships to capture value from customers in return.
6
Understand the marketplace and customer needs and wants Design a customer-driven marketing strategy Construct an integrated marketing program that delivers superior value Build profitable customer relationships and create customer delight Capture value from customers to create profits and customer equity
7
8
• • • • •
Customer needs, wants, and demands Market offerings Value and satisfaction Exchanges and relationships Markets
9
Needs
• States of deprivation • Physical—food, clothing, warmth,
1
• Define marketing and outline the steps in the marketing process • Explain the importance of understanding customers and the marketplace, and identify the five core marketplace concepts • Identify the key elements of a customer-driven market strategy and discuss the marketing management orientations that guide marketing strategy. • Discuss customer relationship management and identify strategies for creating value for customers and captures value from customers in return. • Describe the major trends and forces that are changing the market landscape in this age of relationships.
2
1. What Is Marketing?
2. Understand the Marketplace and Customer Needs
5. Building Customer Relationships
3. Designing a Customer-driven Marketing Strategy
6. Capturing Value from Customers
4. Preparing an Integrated Marketing Plan and Program
7. The Changing Marketing Landscape
8. So, what is marketing? Pull it all together.
3
What is Marketing?
4
• Broadly defined: Marketing is a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others. • In a narrow business context, marketing involves building profitable, value-laden exchange relationships with customers.
5
• Marketing is a process by which companies create value for customers and build strong customer relationships to capture value from customers in return.
6
Understand the marketplace and customer needs and wants Design a customer-driven marketing strategy Construct an integrated marketing program that delivers superior value Build profitable customer relationships and create customer delight Capture value from customers to create profits and customer equity
7
8
• • • • •
Customer needs, wants, and demands Market offerings Value and satisfaction Exchanges and relationships Markets
9
Needs
• States of deprivation • Physical—food, clothing, warmth,