761 207

1-*761 207

Name: Surej P John

University: Assumption University

Email: [email protected]

Phone: 0809091393

Evaluation & Grading1-*

Quizzes (2x10%)20%In-Class Assignment10%Midterm Examination30%Final Examination40%Total100%

Marketing : An IntroductionAn Asian Perspective Armstrong, Kotler & da Silva

1-*Marketing:Managing Profitable Customer Relationships1Marketing : An IntroductionAn Asian PerspectiveArmstrong, Kotler & da Silva


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1-* What Is Marketing?Simple Definition: Marketing is managing profitable customer relationships.Goals: Attract new customers by promising superior value. Keep and grow current customers by delivering satisfaction.


1-*Marketing Old vs. NewOld view of marketing:Making a sale -- Telling and SellingNew view of marketing:Satisfying customer needs


1-*Marketing DefinedA social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.


1-*Core Marketing ConceptsFigure 1.3


1-*Needs, Wants, & DemandsNeed: State of felt deprivation including physical, social, and individual needs.Physical:Food, clothing, shelter, safetySocial:Belonging, affectionIndividual:Learning, knowledge, self-expression


Physical needs1-*I am hungry!!!


Social needs1-*


1-*Wants: Form that a human need takes, as shaped by culture and individual personality.

Wants + Buying Power = DemandNeeds, Wants, & Demands


Demand1-*


1-*Need / Want FulfillmentNeeds and Wants Fulfilled through a Marketing Offer :Some combination of products, services, information, or experiences offered to a market to satisfy a need or want.


1-*ProductsAnything that can be Offered to a Market to Satisfy a Need or WantPersonsPlacesOrganizationsIdeasInformationWhat Satisfies Consumers Needs and Wants?ServicesActivity or Benefit Offered for Sale That is EssentiallyIntangible and Does Not Result in the Ownership of Anything


Persons1-*


Places1-*


Organizations1-*


1-*Marketing MyopiaSellers pay more attention to the specific products they offer than to the benefits and experiences produced by the products.

They focus on the wants and lose sight of the needs


1-*Value and SatisfactionIf performance is lower than expectations, satisfaction is low.If performance is higher than expectations, satisfaction is high.


Customer ValueCustomer value is the difference between the values the customer gains from owning and using a product and the costs of obtaining the product.Customer Value = Benefits / Price

1-*Price = 15000 BahtPrice = 2000 baht


Customer satisfaction1-*


1-*Exchange vs. TransactionExchange:Act of obtaining a desired object from someone by offering something in return.Transaction:A trade of values between two parties.One party gives X to another party and gets Y in return. Can include cash, credit, or check.


1-*What is a Market?The set of actual and potential buyers of a product.

These people share a need or want that can be satisfied through exchange relationships.


1-*Elements of a Modern Marketing SystemFigure 1.4


SuppliersSupplies the raw material to manufacturers.

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CompetitorsSelling identical products to the market. 1-*


Marketing IntermediariesThose who are in between Manufacturer and customer in the supply chain management.Eg. Retailors, Wholesalers, Brokers, banks etc1-*


1-*Marketing ManagementThe art and science of choosing target markets and building profitable relationships with them.

Questions to ask:What customers will we serve?What is our target market?How can we best serve these customers?


1-*Segmentation and Target Marketing#1#2


1-*Marketing ManagementFinding and increasing demand, also changing or reducing demand, such as in demarketing.

DemandManagement


Demarketing1-*


1-*Marketing Management Philosophies

Production Concept

Product ConceptSelling ConceptMarketing ConceptSocietal Marketing Concept


The idea that consumers will favor products that is available and highly affordable.The production concept is useful under two situations:When the demand for a product exceeds the supplyWhen the product cost is too high and improved productivity is needed to bring it down. 1-* The production concept


The Product Quality1-*


1-*Marketing and Sales Concepts ContrastedFigure 1.6


1-*Societal Marketing Concept


1-*The Marketing Philosophies ComparedFigure 1.8


1-*Customer Relationship ManagementThe process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction.


1-*Customer Perceived ValueCustomers evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers.


1-*Customer Perceived ValueIs FedExs service worth the higher price? FedEx thinks so. It promises reliability, speed, and peace of mind. FedEx ads say Need to get it there or else? Dont worry. Theres a FedEx for that.


1-*Customer SatisfactionDependent on the products perceived performance relative to a buyers expectations.


1-*Customer Lifetime ValueThe entire stream of purchases that the customer would make over a lifetime of patronage.Share of CustomerThe share a company gets of the customers purchasing in their product categories.Customer Loyalty & Retention


1-*Customer Lifetime ValueTo keep customers coming back, Stew Leonards has created the Disneyland of dairy stores. Rule #1 the customer is always right. Rule #2 if the customer is ever wrong, reread Rule #1.


1-*Customer EquityCustomer equity is the total combined customer lifetime values of all the companys customers.

***The combination of tangible products, particular people, and certain activities in a particular place creates an experience (e.g., Disneyland)

We are moving toward being a less manufacturing-based society and a more service-oriented society.**

Documents

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