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This is me
Dr.M. Azam Khan
Education: Ph.D. (1994), From USA, MBA. from Holland; Home town: Lahore, (youngest of Five boys) Employment: 25 Years of practical marketing in the field of FMCG with leading National and Multinationals in Pakistan, Central Asian States and Middle east countries. Research: Selling premium price products in low income markets. How to contact me Phone: +92-21-34619310 Cell: 0321-5335323 Email: chishty70f@myself.com Office hrs: Sunday to Saturday follow students hours.
Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall
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What Is Marketing?
Marketing is a process by which companies create value for customers and build strong customer relationships to capture value from customers in return
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What Is Marketing?
The Marketing Process
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Customer needs, wants, and demands Market offerings Value and satisfaction Exchanges and relationships Markets
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Form that needs take as they are shaped by culture and individual personality
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Customers
Value and satisfaction
Marketers
Set the right level of expectations Not too high or low
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Understanding the Marketplace and Customer Needs Exchange is the act of obtaining a desired
object from someone by offering something in return
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Demarketing is marketing to reduce demand temporarily or permanently; the aim is not to destroy demand but to reduce or shift it
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Production concept
Product concept
Selling concept
Marketing concept
Societal concept
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Production concept is the idea that consumers will favor products that are available or highly affordable
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Product concept is the idea that consumers will favor products that offer the most quality, performance, and features. Organization should therefore devote its energy to making continuous product improvements.
Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall
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Selling concept is the idea that consumers will not buy enough of the firms products unless it undertakes a large scale selling and promotion effort
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Marketing concept is the idea that achieving organizational goals depends on knowing the needs and wants of the target markets and delivering the desired satisfactions better than Copyright 2010 Pearson Education, Inc. competitors do Chapter 1- slide 21
Publishing as Prentice Hall
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The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction
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Basic Relationships
Full Partnerships
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Relating with more carefully selected customers uses selective relationship management to target fewer, more profitable customers Relating more deeply and interactively by incorporating more interactive two way relationships through blogs, Websites, online communities and social networks
Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall
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Partners inside the company is every function area interacting with customers
Electronically Cross-functional teams
Partners outside the company is how marketers connect with their suppliers, channel partners, and competitors by developing partnerships
Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall
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Supply chain is a channel that stretches from raw materials to components to final products to final buyers Supply management Strategic partners Strategic alliances
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Customer lifetime value is the value of the entire stream of purchases that the customer would make over a lifetime of patronage
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Share of customer is the portion of the customers purchasing that a company gets in its product categories
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Building the right relationships with the right customers involves treating customers as assets that need to be managed and maximized Different types of customers require different relationship management strategies
Build the right relationship with the right customers
Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall
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Not-for-profit marketing
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All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Printed in the United States of America.
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