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MARKETING MANAGEMENT

AN INTRODUCTION

The Purpose of a Business Is to Create and Retain the Right Customer

Dr. Wafaa Marzouk

Common Marketing Questions


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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.

Dr. Wafaa Marzouk

New Marketing Landscape


Rapid Globalization

Not-for-Profit Marketing

Ethics & Social Responsibility

New World of Marketing Relationships


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Evolving Views of Marketings Role


Finance Production Finance Human resources Production Human resources Marketing

Marketing

a. Marketing as an equal function


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b. Marketing as a more important function

Evolving Views of Marketings Role


Production

Marketing

Customer

c. Marketing as the major function


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d. The customer as the controlling factor

Evolving Views of Marketings Role


Production Marketing
Customer

e. The customer as the controlling function and marketing as the integrative function
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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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Marketing Old vs. New


Old view of marketing: Making a sale -- Telling and Selling

New view of marketing: Satisfying customer needs

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What is marketing?

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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.

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Core Marketing Concepts


Needs, wants, and demands Markets Products

Exchange& transactions

Value & satisfaction

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What are Consumers Needs, Wants, and Demands?

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This Is a Need

Needs - state of felt deprivation including physical, social, and individual needs.

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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.

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This Is Demand
Wants Buying Power

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Demand

Product

A product is anything that can be offered to satisfy a need or a want.

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Core Marketing Concepts


What is Marketed? n Goods n Services n Events
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Persons Places Properties Organizations Information Ideas


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Customer Satisfaction

Expectation
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Performance
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Expectation
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Performance
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If performance is lower than expectations, satisfaction is low. If performance is higher than expectations, satisfaction is high.
Dr. Wafaa Marzouk

Customer Perceived Value

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

Figure : A Simple Marketing System

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What is a Market?

The set of actual and potential buyers of a product.

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Elements of a Modern Marketing System

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2- Designing a Customer-Driven Marketing Strategy


Value Proposition
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The set of benefits or values a company promises to deliver to consumers to satisfy their needs.

It cleans and freshens like sunshine!


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Dr. Wafaa Marzouk

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