C1_Creating and Capturing Value

8/16/2019 C1_Creating and Capturing Value

1/30

Creating and Capturing Customer

Value COURSE #1

Daniela Ionita,

Lecturer - Marketing Department


2/30

Objectives

Defne marketing and oter ke!concept"

Identi! di$erent marketingorientation"

De"cri%e ma&or trend" and orce"


3/30

What is marketing?

1935 -1985

• Marketing i"te

perormanceo %u"ine""acti'itie" tatdirect te (o)o good" and"er'ice" romproducer" tocon"umer"*

1985 -2!

• Marketing i"te proce"" o

planning ande+ecuting teconception,pricing,promotion,anddi"tri%ution oidea", good"

and "er'ice"to createe+cange"tat "ati"!indi'idual andorganiationalo%&ecti'e"*

2! -no"

• Marketing i"te acti'it!,

"et oin"titution",and proce""e"or creating,communicating, deli'ering,ande+canging

o$ering" tata'e 'alue orcu"tomer",partner", and"ociet! atlarge*


4/30

Value- ke# conce$t

• e concept o 'alue a" a long i"tor!, %eing initiall! in'e"tigated%! economi"t" . Smit /*, Mar"all /*0, and later de'eloped %!re"earcer" in te area o management and marketing*

• e "ignifcance o ti" concept i" e+tremel! 'aried - marketeuili%rium price, a%ilit! o "ometing to meet a need, etc*

• Can %e e'aluated rom di$erent per"pecti'e" .cu"tomer, tecompan!, te "areolder", etc*0*

• Reuire" a compromi"e %et)een )at te cu"tomer recei'e" and)at pa!" in e+cange*


5/30

Com$an# orientation to"ar% themarket$lace &1'2(

)he *ro%uctionConce$t

• It old" tatcon"umer" preerproduct" tat are

)idel! available and ine+$ensive*

• Manager"concentrate onacie'ing igproductione,cienc#, lo)

co"t", and ma""%istribution*• Make" "en"e in

%evelo$ingcountries "uc a"Cina or )enmarketer" )ant to

e+pand te market*

)he *ro%uctConce$t

• Con"umer" a'orproduct" o$ering temost ualit#,

perormance, orinno'ati'e eature".perect product0*

• ./etter-mousetra$0allac# .%etterproduct )ill %! it"el

lead people to %eata pat to teir door*/ ne) or impro'edproduct )ill notnece""aril! %e"ucce""ul0*

)he ellingConce$t

• Con"umer", i letalone, "ont bu#enough o te

organiation2"product"*

• 3a"ed on har%selling -4 risk#* Ita""ume" cu"tomer"coa+ed into %u!ing aproduct not onl!

)on2t return or %ad-mout it %ut migte'en %u! it again*

• Make" "en"e )enfrm" )itoverca$acit# aimto "ell )at te!

make, rater tanmake )at temarket )ant"*


6/30

Com$an# orientation to"ar% themarket$lace &2'2(

)he 4arketingConce$t

• e &o% i" to fnd notte rigt cu"tomer" or!our product", %ut theright $ro%ucts or#our customers*

• “Selling focuses on theneeds of the seller;marketing on the needsof the buyer. Selling is

preoccupied with theseller’s need to converthis product into cash;

marketing with the ideaof satisfying the needsof the customer” -Theodore evitt. 5In1678, e propo"ed adefnition or corporate

purpose! Rater tanmerel! making mone!,

it i" to create and keepa cu"tomer9*

)he ocietal4arketing Conce$t

• Con(ict" %et)eencon"umer short-run"ants an% consumerlong-run "elare*

• Deli'er 'alue tocu"tomer" in a )a! tatmaintain" bothconsumer an%societ# )ell %eing

• Su"taina%le marketing: sociall# an%environmentall#

res$onsible marketingtat meet" te pre"entneed" )ile pre"er'ingte a%ilit! o uturegeneration" to meetteir need"*

Societalmarketi

ngconcept

Societ!.uman

)elare0

Con"umer" .)ant"ati"acti

on0

Compan!.proft"0


7/30

What is markete%? &1'2(

OO6 - te %ulk o mo"t countrie"2 production and marketing e$ort" .oodproduct", car", rerigerator", tele'i"ion", macine", etc0

7VC7 - te )ork o airline", otel", car rental frm", %ar%er" and %eautician",maintenance and repair people, accountant", %anker", la)!er", engineer",doctor", "ot)are programmer", and management con"ultant"* Man! market

o$ering" mi+ good" and "er'ice", "uc a" a a"t-ood meal .ad'anced economie";8= "er'ice"-to-good" mi+0

7V7:) - ma&or trade "o)", arti"tic perormance", glo%al "porting e'ent".Ol!mpic", ?orld Cup0

7;*77:C7 - ?alt Di"ne! ?orld2" Magic @ingdom or cu"tomied e+perience"."uc a" a )eek at a %a"e%all camp )it retired %a"e%all great", a our-da! rockand roll anta"! camp, or a clim% up Mount E'ere"t0

*7O: - arti"t", mu"ician", CEO", p!"ician", ig-profle la)!er" andfnancier", and oter .Da'id 3eckam, Opra ?inre!, Rolling Stone"0


8/30

What is markete%? &2'2(

*=)O: - )ork to %uild a "trong, a'ora%le, and uniueimage in te mind" o teir target pu%lic"* Uni'er"itie", mu"eum",perorming art" organiation", corporation", and nonproft" all u"emarketing to %oo"t teir pu%lic image" and compete or audience"

and und"*

:O4=)O: - te production, packaging, and di"tri%ution oinormation are ma&or indu"trie"*

67= - "ocial marketer" are %u"! promoting "uc idea" a"Friend" Don2t Let Friend" Dri'e Drunk and / Mind I" a erri%le

ing to ?a"te*


9/30

4ajor tren%s that are changingthe marketing lan%sca$e


10/30

1( )he changing economic

environmentG==7- Hreat Rece""ion

let con"umer" short o mone# an%

con@%ence a" te! aced lo""e" in income,

a "e'ere credit crunc, declining ome 'alue" and ri"ing unemplo!ment*

“"mericans have changed their lifestyles in many di#erent ways to make endsmeet during this recession. Seventy-one percent have bought less e$pensivebrands% &'( have cut back or canceled vacation plans% ) in *+ have cut backon alcohol or cigarette consumption and ,( among adults ages * to ,/

have moved back in with their parents. 0oupled with this economic imperativeis a willful desire for a simpler% more meaningful and less ac1uisitive lifestyle“.)))*or%e"*com0*

Companie" a'e aligned teir marketing "trategie" em$hasiAing value .'alueor mone!, practicalit!, dura%ilit!0

http://www.forbes.com/http://www.forbes.com/


11/30

2( )he %igital age

e digital re'olution radicall!canged te )a! indi'idual"and companie" interact*

Digital tecnolog! a" change%the "a# "e liveB

communicateB learn an%sho$ .


12/30

3( )he gro"th o not-or$ro@t marketing

College", o"pital", mu"eum",oo", "!mpon! orce"tra,curce" -4 "upport, und" and

mem%er"ip

Social marketing campaign";encourage energ! con"er'ation,concern or te en'ironment,

di"courage "moking, e+ce""i'edrinking, drug u"e*

2S government is the nation’ s ,thlargest advertiser with an annual budget

of 3*%* billion4


13/30

!( a$i% globaliAation

e )orld i" "rinking rapidl! )it tead'ent o a"ter communicationand tran"portation

-4global trade grows

-5 global competition intensi6es

-4 frm" tat "ta! at ome to pla! it"ae migt not onl! lo"e teircance" to enter oter market"%ut al"o ri"k lo"ing teir omemarket"*

Callenge"; un"ta%le go'ernment"and currencie", re"tricti'e policie"

and regulation", ig trade%arrier"

7tis 8levator is head1uarteredin 2S". 9t o#ers products inmore than ,++ countries :)(of sales outside 2S. 9t getselevator door system fromapan. 9t operates manufacturingfacilities in "mericas% 8uropeand "sia and engineeringcenters in 2S% "ustria% ?ra@il%0hina% 0@ech Aepublik% apan%

5( t i bl k ti


14/30

5(ustainable marketing the call or more social

res$onsibilit#Con"umeri"t en'ironmentali"m mo'ement" are orcingmarketer" to ree+amine teir relation"ip" )it "ocial 'alue"and natural en'ironment

Some are practicing caring capitalism oter" are re"i"ting "ucmo'ement" and compl! onl! )en orced %! legi"lation

Su"taina%le marketing : an opportunit! to do )ell %! doing good*

E*g* Unile'er Su"taina%le Li'ing Nlan .Do'e, Lipton, Omo, Re+ona,@norr, Ci, , Dome"to", Rama, Signal0


15/30

)he marketing $rocess

/# creating value or customersBmarketers ca$ture value rom

customers in returnD


16/30

En%erstan%ing the market$lacean% customer nee%s


17/30

&1(:ee%sB WantsB an%6eman%s:ee%s - %a"ic uman reuirement" "uc a" or air, ood, )ater, cloting,

"elter, recreation, education, and entertainment*

Wants > need" directed to "pecifc o%&ect" tat migt "ati"! te need*

6eman%s - )ant" or "pecifc product" %acked %! an a%ilit! to pa!*

Some cu"tomer" a'e need" o )ic te! are not ull! con"ciou" or tatte! cannot articulate* ?e can di"tingui" @ve t#$es o nee%s;

1F tate% nee%s .e cu"tomer )ant" an ine+pen"i'e car*0

2F eal nee%s .e cu"tomer )ant" a car )o"e operating co"t, not initial price, i" lo)*0

3F Enstate% nee%s .e cu"tomer e+pect" good "er'ice rom te dealer*0

!F 6elight nee%s .e cu"tomer )ould like te dealer to include an on%oard HNS na'igation

"!"tem*0

5F ecret nee%s .e cu"tomer )ant" riend" to "ee im or er a" a "a''! con"umer*0

Com$anies must hel$ customers learn "hat the#"antD


18/30

&2( 4arket oGerings

Companie" addre"" cu"tomer need" %! putting ort a value$ro$ositionB a set of bene6ts tat "ati"! to"e need"* eintangi%le 'alue propo"ition i" made p!"ical %! an oGering,)ic can %e a combination of products% services% information%and e$periences*

Man! "eller" make te mi"take o pa!ing more attention to te"pecifc product" te! o$er tan to te %eneft" and e+perience"produced %! te"e product" .marketing m!opia > te! orgettat a product i" onl! a tool to "ol'e a con"umer pro%lem*

• E*g* " manufacturer of 1uarter-inch drill bits may think that thecustomer needs a drill bit. ?ut what the customer really needs isa 1uarter inch hole*


19/30

&3( Value an%atisaction• Con"umer" u"uall! ace a %road arra! o product" and

"er'ice" tat migt "ati"! a gi'en need* Ho" %othe# choose among te"e man! market o$ering" %a"ed on A/LUE

• Cu"tomer" orm e+$ectations about the value tat'ariou" market o$ering" )ill deli'er and %u!

accordingl!* – atis@e% cu"tomer" %u! again and tell oter" a%out teir

good e+perience"*

– 6issatis@e% cu"tomer" oten ")itc to competitor" anddi"parage te product to oter"


20/30

&3( Value an%atisactionatisaction reCects a person’s Dudgment of a

product’s perceived performance in relation"ipto e+pectation"*

Marketer" mu"t %e careul to "et te right level o e+$ectations* Ite! "et e+pectation" too lo), te! ma! "ati"! to"e )o %u! %ut ail toattract enoug %u!er"* I te! "et e+pectation" too ig, %u!er" )ill %edi"appointed


21/30

&!( 7+changes an%elationshi$s• Marketing occur" )en people decide to "ati"! teir

need" and )ant" troug e+cange relation"ip"*

• 7+change is the act o obtaining a %esire% objectrom someone b# oGering something in return*

In te %roade"t "en"e, te marketer trie" to %ring a%outa re"pon"e to "ome market o$ering* e re"pon"e ma!%e more tan "impl! %u!ing te product*

• E+ample"


22/30

&!( 7+changes an%elationshi$s


23/30

elationshi$ vs )ra%itional4o%el o elling


24/30

&5( 4arkets

• raditionall!, a market )a" a $h#sical $lace)ere %u!er" and "eller" gatered to %u! and "ellgood"* Economi"t" de"cri%e a market as acollection of buyers and sellers who transact over a

particular product or product cla""*• Marketer" u"e te term market to co'er 'ariou"

grouping" o cu"tomer"* e! 'ie) sellers asconstituting the in%ustr# and bu#ers as

constituting the marketF e! talk a%outproduct market" .te "oe market0, demograpicmarket" .te !out market0, and geograpicmarket" .te Cine"e market0


25/30

= sim$le marketings#stem


26/30

Ie# customer markets

Consumer 4arketsCompanie" "elling ma"" con"umer good" and "er'ice" "uc a" &uice" , co"metic", atletic "oe",

and air tra'el "pend a great deal o time e"ta%li"ing a strong bran% image %! de'eloping a"uperior $ro%uct an% $ackaging, en"uring it" availabilit#B and %acking it )it engagingcommunication" and relia%le "er'ice*

/usiness 4arketsCompanie" "elling %u"ine"" good" and "er'ice" oten ace )ell-inormed proe""ional %u!er""killed at e'aluating competiti'e o$ering"* 3u"ine"" %u!er" %u! good" to make or re"ell aproduct to oter" at a proft* 3u"ine"" marketer" mu"t %emonstrate ho" their $ro%ucts "illhel$ achieve higher revenue or lo"er costsF /d'erti"ing can pla! a role, %ut te salesorceB the $rice, and te com$an#s re$utation ma! pla! a greater one*

:on$ro@t an% overnmental 4arketsCompanie" "elling to nonproft organiation" )it limited purca"ing po)er "uc a" curce",uni'er"itie", carita%le organiation", and go'ernment agencie" need to $rice careull#* Lo)er"elling price" a$ect te eature" and ualit! te "eller can %uild into te o$ering* Mucgo'ernment purca"ing call" or %id", and %u!er" oten ocu" on practical "olution" and a'orte lo)e"t %id in te a%"ence o e+tenuating actor"*


27/30

Marketing in'ol'e" "er'ing a market o fnal con"umer" in te ace o competitor"* ecompan! and te competitor" re"earc te market and interact )it con"umer" tounder"tand teir need"* en te! create and "end teir market o$ering" and me""age" tocon"umer", eiter directl!or troug marketing intermediarie"

= mo%el or a consumer

market


28/30

)he marketing $rocess&cont(

e P "tep" proce"" - 3! creating 'alue or cu"tomer", marketer"capture 'alue rom cu"tomer" in return


29/30

7valuation s#stem

1 $oints 8P point" ."eminar"0

KP point" .e+am0

eminars;- G ca"e "tudie" .G + P point"0 : 1= point"

- Mid-term pro&ect .mkt program0 : 1= point"

- Final pro&ect .product-market anal!"i"0 :1P point"

)O)=< J 35 $oints


30/30

7ver "on%er "hat all thosea%vertising terms reall# mean?

QE? - Di$erent color rom pre'iou" de"ign*

/LL QE? - Nart" are not intercangea%le )it pre'iou"de"ign*

FOOLNROOF ONER/IOQ - Qo pro'i"ion or ad&u"tment"*/DA/QCED DESIHQ - e ad'erti"ing agenc! doe"nt

under"tand it*

REDESIHQED - Nre'iou" (a)" f+ed - )e ope*

E/RS OF DEAELONMEQ - ?e fnall! got one to )ork*M/IQEQ/QCE FREE - Impo""i%le to f+*

MEES /LL S/QD/RDS - Our", not !our"*

SOLID-S/E - ea'! a" ell*

Documents

C1_Creating and Capturing Value