1 Principles Of Marketing PHILIP KOTLER, GARY ARMSTRONG
Chapter OneMarketing: Managing Profitable Customer Relationships
Presentation on theme: 'Principles Of Marketing PHILIP KOTLER, GARY ARMSTRONG'— Presentation transcript:
2 Looking Ahead Define marketing and the marketing processes.
Explain the importance of understanding customers and the marketplace.Identify the five core marketplace concepts.Identify the key elements of a customer-driven marketing strategy.Discuss customer relationship management and ways of creating and obtaining value.Describe the major trends and forces changing today’s marketing landscape. ![]()
Principles Of Marketing Kotler Books. Principles of Marketing. PHILIP KOTLER. Principles of Marketing (13th Edition) By Philip Kotler. Principles 11Th Edition Weygandt SA - authorSTREAM new PowerPoint Templates Marketing Management by Philip Kotler (11th Edition). Download: Marketing management kotler 13th edition ppt slides.
3 What is Marketing?Attracting new customers by promising and delivering superior value.Building long-term relationships with customers by delivering continued customer satisfaction.Creating, building and managing these relationships profitably over time.Chapter 1 pages 6 and 7
4 Broad Definition:-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.Narrower Definition:-The process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return.
5 The Marketing Process Model
Understand the marketplace and customer needs and wants.Design a customer-driven marketing strategy.Construct a marketing program that delivers superior value.Build profitable relationships and create customer delight.Capture value from customers to create profits and customer equity.Chapter 1 page 7
6 1.Understanding The Marketplace And The Consumer Needs
7 Needs, Wants and Demands
Needs are states of felt deprivation.Physical:Food, clothing, shelter, safety.Social:Belonging, affection.Individual:Learning, knowledge, self-expression.Chapter 1 page 8
8 Needs, Wants and Demands
Wants are needs shaped by culture and individual personality.Jeans vs a sari.Individual expression vs. collective good.Demands are wants combined with buying power.Hilfiger vs. Giant Tiger.Jetta vs. Jaguar.Chapter 1 page 8
TransMac Crack For Windows is Here! Open Mac format disk drives, flash drives, CD/DVD/Blu-ray media, dmg, dmgpart, sparse-bundle and sparse-image file. Copy files to Mac disks and dmg images. Format for Mac and restore disks and flash drives. Create, compress and expand (convert to iso) dmg files. https://dadnew390.weebly.com/trans-mac-serial-key.html.
9 Products, Services, Experiences
Anything that can be offered for.Acquisition, attention, use or consumption.That might satisfy a need or want.Services.Activities or benefits offered.Essentially intangible.Do not result in ownership of anything.Experiences.Create, stage and market brand experiences.Attending live theatre, music concert.Chapter 1, pages 8-10
10 Marketing MyopiaSellers pay more attention to the specific products they offer than to the benefits and experiences produced by the products.They focus on the “wants” and lose sight of the “needs.”The great railroads lost out to the exploding trucking industry.They forgot that their business was solving transportation problems, not running railroads.Chapter 1, page 9
11 How Do Consumers Choose Among Offers?
Customer Value – Difference between the values the customer gains from owning the product versus the costs of obtaining it. Customers buy from the firm that offers the highest customer perceived valueCustomer Satisfaction – Perceived performance in providing value, relative to expectations – how well the product lives up to expectationsImportant: Perceptions are keySet the right level of expectation
12 Value and Satisfaction
If the performance and the customer’s experience is lower than expectations, than customer satisfaction is low.If the performance and the customer’s experience meets expectations, than the customer is satisfied.If the performance and the customer’s experience exceeds expectations, than the customer is delighted.
13 Exchange and Transactions
The act of obtaining a desired object from someone by offering something in return.Transaction.A trade between two parties that involves:two things of value.agreed upon conditions.time of agreement.place of agreement.Chapter 1, Page 10
14 What is a Market? The set of actual and potential buyers of a product.
These people share a need or want that can be satisfied through exchange relationships.Chapter 1, Page 10Chapter 1, page
15 Core Marketplace Concepts
Customers have needs, wants and demands.Marketers offer products or services.Customers seek value and satisfaction from offers.Demands and offers result in transactions and relationships.Markets are all potential customers with a similar demand.Chapter 1, page 12
16 Customer-Driven Marketing
Divide markets into segments.Choose the right segment to target.Offer a unique value proposition.Differentiate your offer from competitor offers.Build customer value and satisfaction.Nurture long-term customer relationships.Chapter 1, 13-14
17 ELEMENTS OF A MODERN MARKETING SYSTEM
Figure 1.2
18 2.Designing A Customer Driven Marketing Strategy
19 Marketing ManagementThe art and science of choosing target markets and building profitable relationships with them.Chapter 1, page 14
20 Selecting Customers To Serve
The company must decide who it will serve. It does this by dividing the market into segments of customers (market segmentation) and selecting which segment it will go after (target marketing)Segmentation divides the market into groups of customers with varying needs and wants.Targeting selects the right segment to nurture.Chapter 1, page 13-14
21 Connections With Customers
Most marketers are targeting fewer, potentially more profitable, customersThey are asking:Can we serve this customer profitably?Focus has shifted to:Retaining current customersConnecting in a deeper, more lasting way – growing “share of customer”Building relationships for greater profitability
22 Demand Management Marketing management seeks to control demand.
Increasing demand is the norm.Demarketing seeks to reduce demand in certain circumstances.Chapter 1, page 13
23 Marketing Management Marketing Management Profitable Demand Customer
Choosing targetmarkets andbuildingprofitablerelationshipswith themDemandManagementFinding andincreasing demand;(also changing orreducing demand,i.e.,“demarketing”)ProfitableCustomerRelationshipsAttracting newcustomers, andretaining andbuildingrelationshipswith currentcustomers
24 Value PropositionThe set of benefits or values the company promises to deliver to its target markets to satisfy their needs.Chapter 1, 13-14
25 Marketing Management Orientations
Marketing Management wants to design strategies that will build profitable relationships with target consumersThere are five alternative concepts under which organizations design and carry out there marketing strategies. These are:-The Production ConceptThe Product ConceptThe Selling ConceptThe Marketing ConceptThe Societal Marketing Concept
26 Marketing Management Orientations Based on different assumptions about: - what customers want - what marketers should doConsumers favor products that areavailable and highly affordableConsumers favor products that offerthe most quality, performance, andinnovative featuresConsumers will not buy enough unlessthe firm undertakes large-scale sellingand promotion effortsFocuses on knowing the needs and wantsof target markets and deliveringsatisfactions better than competitorsFocuses on the needs and wants of targetmarkets and on maintaining or improvingcustomer and societal well-beingProduction ConceptProduct ConceptSelling ConceptMarketing ConceptSocietal Mktg. Concept
27 1.Production Concept Demand > Supply; High Costs (Still appropriate under these limited circumstances) (p. 12)Consumers Favor:Widely availableHighly affordableManagement’s Focus: “engineer”Improving production efficiencyImproving distribution efficiencyDANGER: Marketing MyopiaFocuses too narrowly on company operations, not on customer needs/wantsCompany “falls in love” with its operations, not with its customers
28 2.Product Concept (p. 12) Consumers Favor:
Quality, performance, innovative featuresManagement’s Focus: “inventor”Making superior products (“build a better mousetrap”)Continuous product improvementsDANGER: Marketing MyopiaFocuses too narrowly on physical products, not on underlying customer needs/wantsCompany “falls in love” with its products, not with its customersMakes products that customers don’t care about (don’t need/want)Over-improve (customers don’t care about the improvements)New technology replaces (e. g. , more convenient, less expensive)
29 Selling Concept (May be appropriate for “unsought products”) (p. 12)
Consumers Favor:Not buying, or not buying enoughManagement’s Focus: “hard sell salesperson”Large-scale selling and promotion effortCoaxing and pushing people to buyDANGER: “Sell what you can make”(versus “make what you can sell”)Most customers who are dissatisfied do not buy againMost customers who are dissatisfied spread bad word-of-mouth
30 Marketing Concept (pp. 12-13)
Consumers Favor:Products that satisfy their wants and needsManagement’s Focus: “customer centered”Understanding needs and wants of customers – what they need/want the product to do for themUnderlying and latent needs as well as stated needsDelivering desired satisfactions better than competitors doNOTE: “better than competitors” – keeps best of the production and product concepts
31 Marketing and Selling Concepts Contrasted (Fig. 1.3, pp. 12-13)
The Selling Concept (“inside-out”)StartingPointFocusMeansEndsFactoryExistingproductsSellingandpromotingProfitsthroughsales volumeThe Marketing Concept (“outside-in”)MarketCustomerneedsIntegratedmarketingProfits throughcustomersatisfaction
32 5.Societal Marketing Concept
A Principal of enlightened marketing that holds that a company should make good marketing decisions by considering consumer wants, the company's requirements, consumers long run interests and society’s long run interests.
33 Societal Marketing Concept
Society(Long-term consumer & societal welfare)SocietalMarketingConceptMaintain & improvelong-term well-beingSocial responsibilityBe ethicalDo good:customer-oriented,environment,innovative (real,valued) productimprovementssense-of-higher-mission, give backStop doing bad fConsumers(Short-term want satisfaction)Company(Profits)
34 3.Preparing A Marketing Plan And Program
35 The company's marketing strategy outlines which customers the company will serve and how it will create value for these customers.Next the marketer constructs a marketing program that will actually deliver the intended value to the target customers.The marketing program builds customer relationships by transforming the marketing strategy into action. It consists of the firms Marketing mix.
36 The Marketing MixThe marketing mix is the set of marketing tools the firm uses to implement its marketing strategy.The major marketing mix tools are classified into four broad groups, called the four Ps of marketing. These are:-ProductPricePlacePromotion
37 Marketing Mix (contd.)To deliver on its value proposition, the firm must:Create a need-satisfying marketing offer (Product)Decide how much it will charge for the offer (Price)How it will make the offer available to the target consumers (Place)How it will communicate with target customers about the offer and persuade them of its merits (Promotion)
39 Relationship Marketing
Customer relationship management.The process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction.Chapter 1, page 19
40 Relationship Building Blocks: Customer Value and Satisfaction
The key to building lasting customer relationships is to create superior customer value and satisfaction. Satisfied customers are more likely to be loyal customers and to give the company a larger share of their business
Download symbols for word mac. 41 The Customer’s Experience
Customer perceived value.Customer’s subjective view of the offer’s value compared to competitive offers.Customer satisfaction.Customer’s subjective view of the value received in return for the purchase price.Customer delight.Customer’s subjective view of the increased value received above the purchase price.Chapter 1, pages 20-21
42 Customer Satisfaction
Satisfaction = Performance (P) – Expectation (E)Expectations are largely based on marketer information and promises – must create realistically high expectationsReality = satisfaction has been decliningPerformance exceeds expectationsP > ECustomer is highly satisfiedor delighted !Performance falls short of expectationsP < ECustomer is dissatisfiedPerformance matches expectationsP = ECustomer is satisfied
Varma kalai books in tamil pdf free. Paladin Press. • ^ Luijendijk, D.H. • ^ Zarrilli, Phillip B. Journal of Asian Martial Arts. Kalarippayat: India's Ancient Martial Art.
43 Customer Relationship Levels and Tools
Companies can build customer relationships at many levels, depending upon the nature of the target market.At one extreme a company with many low margin customers may seek to develop basic relationships with the customers. For example proctor & gamble does not phone or call on all of its customers to get to know the personally.
44 Customer Relationship Levels and Tools (continued)
https://everreviews622.weebly.com/iso-converter-for-mac-free-download.html. At the other extreme, in markets with few customers and high margins, sellers want to create full partnerships with key customers. For example proctor & gamble teams work closely with Wal-mart
45 The Changing Nature of Customer Relationship
Relating With More Carefully Selected CustomersToday most marketers realize that they do not want relationships with every customer. Instead companies are now targeting fewer more profitable customers.Many companies now use customer profitability analysis to weed out losing customers and target winning ones for pampering.
46 Relating for the Long-Term
Just as companies are being more selective about which customers they can choose to serve they are serving chosen customers in a deeper more lasting wayRelating DirectlyBeyond connecting more deeply with their customers, many companies are also connecting more directly.Direct marketing is booming. Consumers can now buy virtually any product with out going to the store – by telephone, mail-order catalogs and online.
47 Partner Relationship Management
Working with partners in other company departments and outside the company to jointly bring greater value to the customers.Every department in an organization contributes to customer satisfaction.Suppliers are carefully controlled through supply chain management.Strategic alliances create new opportunities to delight customers.Chapter 1, page 24
48 5.Capturing Value from Customers
49 Creating Customer Loyalty And Retention
Good Customer relationship management creates customer delight.In turn delighted customers remain loyal to the company and its products.Thus the aim of customer relationship management is to create not just customer satisfaction, but customer delight.Customer lifetime value.The value of the entire stream of purchases that the customer would make over a lifetime of patronage.Chapter 1, page 25
50 Capturing Value In Return
Share of customer.Share of customer is the percentage of customers that buy a company’s product of all customers purchasing in that product category.Companies continuously strive to grow their share of customer.Creating brand extensions is a favoured method of growing share of customer.Chapter 1, page 25-26 Marketing Management Kotler 15th Edition Pdf
51 Building Customer Equity
The total combined customer lifetime value of all of the company’s customers.Often a more accurate measure of a company’s value than sales or market share.Combination of market share, share of customer and lifetime customer value.Chapter 1, page 26
52 Customer Relationship Groups
Targeting the right customers at the right time.Butterflies have high profitability with low loyalty.True Friends have high profitability with high loyalty.Strangers have low profitability with low loyalty.Barnacles have low profitability with high loyalty.Challenge: make the Butterflies more loyal and make the Barnacle more profitable.Keep the True Friends and “fire” the Strangers.
53 Butterflies True Friends Strangers Barnacles
Good fit between company’s offerings and customer’s needs: High profit potentialTrue FriendsGood fit between company’s offerings and customers needs: highest profit potentialHigh ProfitabilityStrangersLittle fit between company’s offerings and customer’s needs: lowest profit potentialBarnaclesLimited fit between the company’s offerings and customer’s need: Low profit potentialLow ProfitabilityShort-term CustomersLong-term Customers
54 New Marketing Technologies
Technology has changed how marketers build value.Internet and e-commerce/e-business.Fast and global communications.Wireless technologies.Relational databases.Instant, highly targeted communication with customers and suppliers.Chapter 1, page 29
Nighttime screen app mac. 55 New Global Markets International trade is the new frontier.
Export is critical to a country’s economic growth.Difficult decision:Delay means risking loss of growing global markets.Proceed means high risk but potentially high reward.Chapter 1, pages 30-32 Principles Of Marketing Book Pdf
56 Ethics and Responsibility
Worldwide consumerism and environmentalism movements exert. pressure for greater responsibilityNotion of “caring capitalism” tied to societal marketing concepts.Seeking ways to make a profit by serving the best long-run interests of customers and communities.Chapter 1, pages 32-33
57 Not-For-Profit Marketing
Marketing of ideas, values and institutions.Increasing awareness that these organizations must build relationships with constituents and stakeholders.Challenge of using new marketing techniques for not-for-profit initiatives.Chapter 1, pages 33-34
58 Looking Back Define marketing and the marketing processes.
Explain the importance of understanding customers and the marketplace.Identify the five core marketplace concepts.Identify the key elements of a customer-driven marketing strategy.Discuss customer relationship management and ways of creating and obtaining value.Describe the major trends and forces changing today’s marketing landscape. Kotler Principles Of Marketing Pdf
Comments are closed.
|
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
February 2021
Categories |