Copyright 2005 Pearson Education Inc. Marketing: Managing Profitable

Copyright  2005 Pearson Education Inc. Marketing: Managing Profitable

Copyright 2005 Pearson Education Inc. Marketing: Managing Profitable Customer Relationships Chapter 1 Powerpoint slides Express version Instructor name Course name School name Date Principles of Marketing: 6th Canadian Edition Learning Objectives 1.2 Copyright 2005 Pearson Education Inc. After studying this chapter, you should be able to: Define what marketing is and discuss its core concepts Define marketing management and compare the five marketing management orientations Discuss customer relationship management and strategies for building lasting customer

relationships Analyze the major challenges facing marketers heading into the new connected millennium Principles of Marketing: 6th Canadian Edition Needs, Wants, and Demands 1.3 Copyright 2005 Pearson Education Inc. Marketing: The managing of profitable relationships Satisfying customer needs Needs: Figure 1.1 Felt deprivation Wants: Form of needs shaped by culture and personality Demands:

Wants backed by buying power Principles of Marketing: 6th Canadian Edition Value and Satisfaction 1.4 Value: Copyright 2005 Pearson Education Inc. Benefits gained versus costs of obtaining product Satisfaction: Degree of meeting consumers expectations Exchange: Trade of value between parties Transaction: Two things of value Agreed-upon conditions Time/place of agreement Principles of Marketing: 6th Canadian Edition

Marketing Management 1.5 Market: Copyright 2005 Pearson Education Inc. Set of actual or potential buyers Marketing management: Choosing target markets Building profitable relationships with them Demarketing: Reduce, not destroy demand Temporarily or permanently Figure 1.2 Principles of Marketing: 6th Canadian Edition Copyright 2005 Pearson Education Inc. Marketing Management Orientations

Production concept Product concept Selling concept Marketing concept 1.6 Figure 1.3 Principles of Marketing: 6th Canadian Edition Societal Marketing Concept 1.7 Copyright 2005 Pearson Education Inc. Societal marketing concept: Determine needs/wants of target markets Deliver desired satisfactions More efficiently and effectively Maintain or improve consumers and societys

well-being Figure 1.4 Principles of Marketing: 6th Canadian Edition Customer Satisfaction and Loyalty 1.8 Copyright 2005 Pearson Education Inc. Customer __________ Relationship management Lifetime value Perceived value Satisfaction Loyalty and retention Equity Figure 1.5

Principles of Marketing: 6th Canadian Edition Copyright 2005 Pearson Education Inc. Todays Marketing Connections The Internet One to one marketing Selective relationship management Increase share of customer Partner relationship management Supply chain management Strategic alliances

1.9 Figure 1.6 Principles of Marketing: 6th Canadian Edition Copyright 2005 Pearson Education Inc. Marketing Connections in Transition Old marketing thinking: New marketing thinking:

Sales/product centered Practice mass marketing Focus on product/sales Make sales to customers Get new customers Grow share of market Serve any customer Use mass media Standardized products Sales/marketing responsible for customer satisfaction/value Go it alone Market locally Profit responsibility

Corporations Use marketplaces 1.10 Market/customer centered Selected market segments Focus on customer satisfaction/value Develop customer relationships Keep old customers Grow share of customer Serve profitable customers Connect with customers directly Customized products Enlist all departments to deliver customer satisfaction/value Partner with others Market locally and globally Social/environmental responsibility Non-profits Use marketspaces

Principles of Marketing: 6th Canadian Edition In Conclusion 1.11 Copyright 2005 Pearson Education Inc. The learning objectives for this chapter were: Define what marketing is and discuss its core concepts Define marketing management and compare the five marketing management orientations Discuss customer relationship management and strategies for building lasting customer relationships Analyze the major challenges facing marketers heading into the new connected millennium Principles of Marketing: 6th Canadian Edition

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