Principles of Marketing BA 3365 Section 006 Introduction to Marketing Professor Andrei Strijnev The...

Principles of Marketing

BA 3365 Section 006

Introduction to Marketing

Professor Andrei Strijnev

The University of Texas at Dallas

Fall 2005

DEVELOPING CUSTOMER

RELATIONSHIPS AND VALUE THROUGH

MARKETING

11CHAPTER

• Marketing: Using Exchanges to Satisfy Needs

• The Diverse Factors Influencing Marketing Activities

WHAT IS MARKETING?

FIGURE 1-3FIGURE 1-3 An organization’s marketing department relates to many people, groups, and forces

Toro’s iMowWhat “benefits” and what “showstoppers”?

• Discovering Consumer Needs• The Challenge of Launching Winning

New Products

• Consumer Needs and Consumer Wants

• What a Market Is

HOW MARKETING DISCOVERS AND SATISFIES CONSUMER NEEDS

FIGURE 1-4FIGURE 1-4 Marketing’s first task: discovering consumer needs

• Satisfying Consumer Needs Target market

• The Four Ps: Controllable Marketing Mix Factors

• The Uncontrollable, Environmental Factors

HOW MARKETING DISCOVERS AND SATISFIES CONSUMER NEEDS

Wal-MartCustomer Value:

Best Price

Lands’ EndCustomer Value:

Exceptional Service

• Global Competition, Customer Value, and Customer Relationships

• Relationship Marketing and the Marketing Program• Relationship Marketing: Easy to

Understand

• Relationship Marketing: Difficult to Implement

• The Marketing Program

THE MARKETING PROGRAM: HOW CUSTOMER RELATIONSHIPS ARE BUILT

FIGURE 1-5FIGURE 1-5 Marketing’s second task: satisfying consumer needs

• A Marketing Program for Rollerblade• Expanding the Market for Rollerblade

Skates

• Exploiting Strengths in Technology

THE MARKETING PROGRAM: HOW CUSTOMER RELATIONSHIPS ARE BUILT

Rollerblade In-line Skate Segment:

Women

Rollerblade In-line Skate Segment:

Kids

FIGURE 1-6FIGURE 1-6 Marketing programs for two of Rollerblade’s skates, targeted at two distinctly different customer segments: fast-growing kids and fitness skaters.

• Evolution of Market Orientation• Production Era

• Sales Era

• The Marketing Concept Era

• The Market Orientation Era Customer relationship management

(CRM)

HOW MARKETING BECAME SO IMPORTANT

FIGURE 1-7FIGURE 1-7 Four different orientations in the history of American business

• Ethics and Social Responsibility:Balancing the Interests of Different Groups• Ethics

• Social Responsibility Societal marketing concept Macromarketing Micromarketing

HOW MARKETING BECAME SO IMPORTANT

• The Breadth and Depth of Marketing• Who Markets?

• What is Marketed?

HOW MARKETING BECAME SO IMPORTANT

Hermitage MuseumOutside View

Hermitage Museum

Statue

• The Breadth and Depth of Marketing (cont)• Who Buys and Uses What is Marketed?

Ultimate consumers Organizational buyers

• Who Benefits?

• How Do Consumers Benefit? Utility

HOW MARKETING BECAME SO IMPORTANT