mkt class 1
TRANSCRIPT
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George Abi Habib 1?What isW
herewhy
MARKETING
When
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George Abi Habib 2
The Start of marketing….
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George Abi Habib 3
The old days…Product centric.
You can have whatever color you like… as long as it is black.
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George Abi Habib 4
Limited choice….
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George Abi Habib 5Limited Competition…
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George Abi Habib 6
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George Abi Habib 7
Customer centric …
What I want, when I want, how I want it…
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George Abi Habib 8Infinite choice…
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George Abi Habib 9Intense Competition …
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George Abi Habib 10
What is marketing?
• “Marketing is the management process which identifies, anticipates and supplies customer requirements efficiently and profitably” Chartered Institute of Marketing
• “Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives”
American Marketing Association
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George Abi Habib 11
Simplified Definition
• “Marketing is the discovery of human needs or wants and the fulfillment of those demands with customer focused goods or services…”
• “The right product, in the right place, at the right time, at the right price”
People don't want to be "marketed to"; they want to be "communicated WITH."- Flint McLaughlin
In the factory we make cosmetics; in the beauty shop we sell hope. - Charles Revson
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George Abi Habib 12
Our Working definition
Marketing is the management of profitable customer relationships by the creation of added value in exchange for profits…
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George Abi Habib 13
Marketing is not Sales!
Factory Existing Product
Selling &Promoting
The Selling Concept
Profits from Satisfaction
MarketCustomer Needs
Integrated Market
The Marketing Concept
Profits from Volume
OBJECTIVE
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George Abi Habib 14
The Marketing Process
By creating value, you capture value
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Where is Value created?
George Abi Habib
Needs
Wants
Demands
Today’s demands are tomorrow’s
needs
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George Abi Habib 16
What is added value?
$8 USD100 Oz.
$14 USD
$23 USD
$10 USD .33 Oz.
+300% Profit
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George Abi Habib 17
Real value, is unlocked in replication…. LOYALTY
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George Abi Habib 18
Customer Life time Value: The total Value of the combined purchases of a company’s customer over the lifetime of that relationship.
Which one would you buy…
Customer Equity = All customer lifetime value
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George Abi Habib 19
What is Customer equity worth?
$50,000,000,000
Butwhy?
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Confidential 20
Recommended Reading• Books: 22 immutable laws of Branding, Losing my
Virginity, Brands and Branding, Brand Sense, The Google story.
• Magazine: Communicate Magazine, Advertising age,
kippreport.com
• Movies: The Big Kahuna, The social Network, The Aviator, Thank you for Smoking,