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AN INTRODUCTION
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Which of my customers are profitable and how do I find more just like them? How can I best reach and keep my customers? Which customers are most likely to purchase from me and which products/services do they want? How big is the total opportunity market? What is my revenue potential? Who is my current and future competition and how much am I losing to them? Am I gaining market share? How can I increase ROI on my campaigns?
Dr. Wafaa Marzouk
Introduction
Todays successful companies have one thing in common: they are strongly customer focused and heavily committed to marketing.
Not-for-Profit Marketing
Marketing
Marketing
Customer
e. The customer as the controlling function and marketing as the integrative function
Dr. Wafaa Marzouk
What Is Marketing?
Simple Definition: Marketing is managing profitable customer relationships. Goals: 1. Keep and grow current customers by delivering satisfaction. 2. Attract new customers by promising superior value.
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Dr. Wafaa Marzouk
What is marketing?
What is marketing?
The American Marketing Association offers the following definition: Marketing is an organization function and a set of processes for creating, communication, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.
Exchange& transactions
This Is a Need
Needs - state of felt deprivation including physical, social, and individual needs.
This Is a Want
Wants - form that a human need takes, as shaped by culture and individual personality.
An American needs food but wants a big Mac, French fries and a soft drink.
This Is Demand
Wants Buying Power
Demand
Product
Customer Satisfaction
Expectation
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Performance
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Expectation
10
Performance
8
If performance is lower than expectations, satisfaction is low. If performance is higher than expectations, satisfaction is high.
Dr. Wafaa Marzouk
Is FedExs 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? Dont worry. Theres a FedEx for that.
Dr. Wafaa Marzouk
What is a Market?
The set of benefits or values a company promises to deliver to consumers to satisfy their needs.