Marketing: Managing Profitable Customer Relationships

1. Marketing: Managing Profitable Customer Relationships

6. A Simple Model of the Marketing Process Note: These stages guide our thinking about what marketing is, what it represents in essence. The chapters in the text are built around these themes. Figure 1.1

7. Different perspectives of “Marketing in Asia” Figure 1.2

11. Core Marketing Concepts Figure 1.3

12. What Satisfies Consumers’ Needs and Wants? Products Anything that can be Offered to a Market to Satisfy a Need or Want Persons Places Organizations Ideas Information Services Activity or Benefit Offered for Sale That is Essentially Intangible and Does Not Result in the Ownership of Anything

14. Value and Satisfaction If performance is lower than expectations, satisfaction is low. If performance is higher than expectations, satisfaction is high. Expectation Performance 8 10 Expectation Performance 10 8

17. Elements of a Modern Marketing System Figure 1.4

19. Segmentation and Target Marketing #1 #2 Market Segmentation: Divide the market into segments of customers Target Marketing: Select the segment to cultivate

20. Marketing Management Finding and increasing demand, also changing or reducing demand, such as in demarketing. Demand Management Temporarily or permanently reducing the number of customers or shifting their demand. Demarketing

21. Marketing Management Philosophies Production Concept Product Concept Selling Concept Marketing Concept Societal Marketing Concept Customer-Driven

22. Figure 1.5 The Four Elements of the Marketing Concept

23. Marketing and Sales Concepts Contrasted Figure 1.6

24. Customer-Driven Marketing How many of us would have thought to ask for a “wearable” PC? Marketers must often understand customer needs even better than customers themselves do.

25. Societal Marketing Concept Figure 1.7

26. The Marketing Philosophies Compared Figure 1.8

27. The Marketing Mix Customer Needs Product Price Promotion Distribution

30. Customer Perceived Value Is FedEx’s service worth the higher price? FedEx thinks so. It promises reliability, speed, and peace of mind. FedEx ads say “Need to get it there or else? Don’t worry. There’s a FedEx for that.”

32. Customer Relationship Levels Basic Relationship Full Partnership Continuum

33. The Three Approaches to Customer Relationship Building Figure 1.9

36. Customer Lifetime Value To keep customers coming back, Stew Leonard’s has created the “Disneyland of dairy stores.” Rule #1 — the customer is always right. Rule #2 —if the customer is ever wrong, reread Rule #1.

38. Customer Relationship Groups Figure 1.10

40. Figure 1.11 An Expanded Model of the Marketing Process