week 1 marketing: the art and science of satisfying customers
TRANSCRIPT
MARKETING :THE ART & SCIENCE OF SATISFYING CUSTOMERS
Week 1
Prepared by Anna Riana Putriya | www.slideshare.net/natriumz | [email protected]
What is marketing ?
Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably
Chartered Institute of Marketing (UK)
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Marketing Defined:
“Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging value with others”
Marketing management is
the art and science of choosing target markets and getting, keeping, and
growing customers through creating, delivering, and communicating
superior customer value.superior customer value.
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Marketing VS Sales
SELLING IS ONLY THE TIP OF THE ICEBERG
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“There will always be need for some selling. But the aim of marketing is to make selling superfluous.
The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself.
Ideally, marketing should result in a customer who is ready to buy. All that should be needed is
to make the product or service available.”-Peter Drucker-
Marketing is about managing profitable customer relationships
• Attracting new customers
• Retaining and growing current customers• Retaining and growing current customers
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Designing the “right” product
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Only the best is good enough for Lexus customers
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Core Customer and Marketplace Concept
Needs, wants, and demands
Markets
Core
Products, services, and experiences
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Exchange, transactions,
and relationships
CoreMarketingConcepts
Value, satisfaction,and quality
Value
CUSTOMER VALUE
Perceived Value
• The customer’s evaluation of the difference between benefits and costs.
• Customers often do not judge values and costs accurately or objectively.
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The relationship between
benefits and the sacrifice
necessary to obtain those
benefits.
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Satisfaction
CUSTOMER
SATISFACTION
• The feeling that a product met or exceeded the
customer’s expectations.
• Product’s perceived performance relative to
customer’s expectations.
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So marketing is ...
The process of building profitable customer relationships
by creating value for customers and
capturing value in returncapturing value in return
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Reasons for studying Marketing
Why Study Marketing ?
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Importantto
Society
Importantto
Business
GoodCareer
Opportunities
+
Marketing affects you every day!
Marketing Mix
MARKETING
MIX
ProductPlace
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Product
PricePromotion
Place
CustomerSolution
Customer CostCommunication
Distribution
A simple five-step model of the marketing process
Understand the marketplace and customer needs
and wants
Design a customer-driven marketing strategy
Construct a marketing program that delivers
superior value
Create value for customers and build customer relationship
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Build profitable relationship and create customer delight
Capture value from customers to create profits and customer quality
Capture value from customers in return
Elements of A Modern Marketing System
Company (marketer)
Marketing
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Suppliers
Company (marketer)
Marketing intermediaries
End Users
Marketing Management Orientations
Key
2. ProductConcept
1. ProductionConcept
5. SocietalConcept
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Key MarketingConcepts
3. SellingConcept
4. MarketingConcept
5. SocietalConcept
Production Concept
Product Concept
• Consumers prefer products that are widely available and inexpensive• What can we make efficiently?
• Consumers favor products that offer the most quality, performance, or innovative features
• What can we make or do best?
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Selling Concept
Marketing Concept
• Consumers will buy products only if the company aggressivelypromotes/sells these products
• How can we sell more aggressively?
• Focuses on needs/ wants of target markets & delivering value better than competitors
• What do customers want and need?
Marketing Concept• Focuses on needs/ wants of target markets & delivering value better
than competitors• What do customers want and need, and how can we benefit society?
The Selling and Marketing Concepts Contrasts
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Marketing V.S. Production Concept
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Marketing Concept
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Societal Marketing
SOCIETAL
MARKETING
ORIENTATIONAn organization exists not only to satisfy customer wants
but also to preserve or enhance individuals’ and society’s
long-term best interests.
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• Less toxic products
• More durable products
• Products with reusable
or recyclable materials
Societal Marketing Concept
Society(Human Welfare)
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Consumers(Satisfaction)
Company(Profits)
Societal
Marketing
Concept
Example :
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Marketing Challenges
Non-profitMarketing
Digital Age
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EMERGING
CHALLENGESEthics and
Social ResponsibilityGlobalization
Marketing Relationship
Criticisms of Marketing
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Chocolat movie trailler
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