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WELCOME TO MBA 525

Professor Notarantonio

Spring, 2016

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The singe !ost i!portant thing to re!e!"er a"o#t an$ enterprise is that there are no res#ts insi%e its &as' Theres#t of a "#siness is a satis(e% )#sto!er'* Peter +' r#)-er .1/0/2005On the Profession of Manage!entHarvard Business Press

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o& %o Mar-eters Satisf$

Nee%s3

#n%erstan% )ons#!ers

ana$sis of )ons#!er "eha4ior !ar-eting resear)h

seg!entation an% target !ar-et see)tion

!ar-eting !i

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Mar-eting e(ne%

Mar-eting is %e(ne% as an e)hange"et&een a (r! an% its )#sto!ers'

4

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Mar-eting Manage!ent +ra!e&or-

The 5Cs, STP an% the Ps )onstit#tethe !ar-eting !anage!entfra!e&or-

5

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What is 7a#e3

Benefts minus Costs

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Ehi"it 2'2The 7a#e E8#ation

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WAT 9S 7AL:E3

;:AL9T9CE

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7a#e Co!position

Monetary

costs

Time

Psychic andphysic costs

Product

Services

Employees

Image

Benefts

Costs(sacrifces)

alue(gain!loss)

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B:9L9N? 7a#e

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Creating NEW 4a#e

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Method

http://methodhome.com/http://methodhome.com/

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7a#e 9++E>S

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7a#e

The greatest 4a#e often ies o#tsi%e the pro%#)t$o# are seing' The greatest 4a#e !a$ "eintangi"es s#)h as the reationships the)#sto!er has &ith the )o!pan$, the ease of

"#$ing a pro%#)t or ser4i)e, )o!pan$ rep#tation,responsi4eness of the organiation, integrit$ ortr#st&orthiness

Or E7EN TE MA>ET9N? 9TSEL+ .!ar-eting &=

!eaning

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Po&er has shifte% fro! Co!pan$ toC#sto!er

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The NEW po&er of Wor%ofMo#th

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UNITED BREAKS GUITARS

The Po&er of DB#

http://www.youtube.com/watch?v=5YGc4zOqozo&feature=player_embeddedhttp://www.youtube.com/watch?v=5YGc4zOqozo&feature=player_embedded

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O4er the past fe& $ears, &e ha4e

transitione% fro! a

Competitive, Dynamic

environment

To a

Hypercompetitive, Hyperdynamic

environment

Where the Customer is KING

http://www.youtube.com/watch?v=4fPybfTaIO0http://www.youtube.com/watch?v=4fPybfTaIO0

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TE NEW MA>ETPLACE

7AL:E

S:STA9NAB9L9T9C9Teationship

Era

1850 1950

1908

Model T 1stSold

1929

Great Depression

195

!orld !ar "" #nds

Seller$s

Market

%&yer$s

Market

1980$s

Glo'al (o)petition

198019*0

%irth of Marketing

(on+ept

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WhatGs Net33

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WAT 9S MEAN9N?+:L MA>ET9N?3

When $o#r !ar-eting is !eaningf# peope

)hoose to engage &ith $o# in an e)hange thatthe$ per)ei4e as 4a#a"eH "#t engage!ent ison$ the "eginningD &hate4er $o#r pro%#)t orser4i)e !a$ "e'

When $o#r !ar-eting is !eaningf#, the!ar-eting itsef a%%s 4a#e to PeopeGs i4es&hether or not the$ i!!e%iate$ "#$ &hat $o#Gre

seing'

The !ar-eting itsef is if of 4a#e to )ons#!ersin%epen%ent of the pro%#)t or ser4i)eD

Ie)erpt fro!J The Next Evolution o Marketing

T t i t

https://www.youtube.com/watch?v=Oh2-IB7W-kw&feature=youtube_gdata_playerhttps://www.youtube.com/watch?v=Oh2-IB7W-kw&feature=youtube_gdata_player

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Turn customers intoraving -ans.

Do whatever it takes to keep them satisfied

Always exceed expectations

Never assume you are meeting your customers

needs- ask questions-proe! "urprise your customers with your gratitude#

$our customers need new ideas% even if they

dont ask for them- ecome their trusted advisor

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o& %o Mar-eters Satisf$

Nee%s3 #n%erstan% )ons#!ers

ana$sis of )ons#!er "eha4ior

!ar-eting resear)h

seg!entation an% target !ar-etsee)tion

!ar-eting !i

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Wh$ Cons#!er >esear)h3

?etting )oser to )ons#!ers no&ing ho& the$ per)ei4e o#r pro%#)t an%

ho& the$ per)ei4e o#r )o!petitorsG pro%#)ts no&ing their attit#%es to&ar%s o#r "ran%

no&ing ho& the$ "eha4e

NOW9N? OW TE< 9NTE>ACT W9T

P>O:CTS

no&ing o#r Cons#!ers

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no&ing o#r Cons#!ersseg!entation an% targeting

+ine$t#ne%

Seg!entationStrategiesAo&Mar-eters to

>ea)h On$ThoseCons#!ers9ntereste% in

B#$ing Their

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Senior Mg!tLea%ership E!po$ee C#sto!er

Training C#sto!er9n4o4e!ent

C#sto!er Satisfa)tion C#sto!er >etention

C#sto!er Lo$at$

C#sto!er Eperien)es C#sto!er So#tions C#sto!er Co!paints

C:STOME>+OC:SE

O>?AN9KAT9ON

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Loyal customers have a longcustomer history, buyat an above-averagepurchase amount, have a

highdesire to repurchase, have strongproductpreferencesfor the companys products andwouldrecommendthe companys products to friends,

relatives, and co-workers.

Ud hli C t:NE>WELM9N?

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Underwhelming Customers

Little or no customer focus translates into an unfocused competitive position and minimalcustomer satisfaction. The result is a vicious circle of poor performance.

:NE>WELM9N?C:STOME>S

CO>E C:>>9C:L:M

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"ervice-&uality 'odel

CO>E C:>>9C:L:M