Preview

Principles of marketing Course 101

Satisfactory Essays
Open Document
Open Document
1258 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Principles of marketing Course 101
Chapter 1
Marketing:
Creating and Capturing Customer Value

Copyright ©2014 by Pearson Education, Inc. All rights reserved

Creating and Capturing Customer
Value
Topic Outline
•
•
•
•
•
•
•

What Is Marketing?
Understanding the Marketplace and Customer Needs
Designing a Customer‐Driven Marketing Strategy
Preparing an Integrated Marketing Plan and Program
Building Customer Relationships
Capturing Value from Customers
The Changing Marketing Landscape

Copyright ©2014 by Pearson Education, Inc. All rights reserved

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.

Copyright ©2014 by Pearson Education, Inc. All rights reserved

Marketing Process

Understanding the Marketplace and Customer Needs
Customer Needs, Wants, and Demands

Needs

• States of deprivation
• Physical—food, clothing, warmth, safety
• Social—belonging and affection
• Individual—knowledge and self-expression

Wants

• Form that needs take as they are shaped by culture and individual personality

Demands
Copyright ©2014 by Pearson Education, Inc. All rights reserved

• Wants backed by buying power

Understanding the Marketplace and Customer Needs
• Market offerings are some combination of products, services, information, or experiences offered to a market to satisfy a need or want • Marketing myopia is focusing only on existing wants and losing sight of underlying consumer needs Copyright ©2014 by Pearson Education, Inc. All rights reserved

Understanding the Marketplace and Customer Needs
Customer Value and Satisfaction
Expectations
Customers
• Value and satisfaction Marketers
• Set the right level of expectations • Not too high or low
Copyright ©2014 by Pearson Education, Inc. All rights reserved

Understanding the Marketplace and Customer Needs
Exchange is the
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Good Essays

    Marketing Chapter 6
    • 537 Words
    • 3 Pages

    Marketing Chapter 6

    Lands' End clothing catalogue retailer offers a satisfaction guarantee on all merchandise it sells. In other words, Lands' End gives its customers a(n) _____ warranty.…

    • 537 Words
    • 3 Pages
    Good Essays
    Read More
  • Good Essays

    Adms 2200 Mid-Term Exam Prep
    • 6022 Words
    • 25 Pages

    Adms 2200 Mid-Term Exam Prep

    Marketing: the process of planning and executing of a product, its pricing, its promotion, and its distribution. In addition marketing attempts to manage customer relationships in ways that benefit the organization and its stakeholders. Marketing creates UTILITY (want-satisfying power of a good or service) through the exchange process. Time Utility – Availability of goods and services when people want them. Place Utility – Availability of goods and services at convenient locations. Ownership Utility – Ability to transfer title to goods and services from marketer to buyer. Form Utility – Conversion of raw materials and components into finished goods and services.…

    • 6022 Words
    • 25 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    Mkt/421 Weekly Reflection – Week 2 Essay Example
    • 507 Words
    • 2 Pages

    Mkt/421 Weekly Reflection – Week 2 Essay Example

    During this week one we learned that “Marketing is the performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to customer or client” (Perreault, Cannon, and McCarthy, 2009, p.6).…

    • 507 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Better Essays

    Unit 4 Health And Social Care Industry Analysis
    • 5258 Words
    • 22 Pages

    Unit 4 Health And Social Care Industry Analysis

    Marketing is above all satisfying customer needs and as competition grows fiercer and fiercer, understanding customers today is crucial; but that is not enough. Under the marketing concept, companies try to gain competitive advantage by satisfying target consumer needs better than competitors do, and in achieving this, ensure their own survival.…

    • 5258 Words
    • 22 Pages
    Better Essays
    Read More
  • Powerful Essays

    Mkt100 Textbook - Chapter 1
    • 15926 Words
    • 64 Pages

    Mkt100 Textbook - Chapter 1

    As you will learn throughout this book, creating value for consumers and the firm requires that marketers…

    • 15926 Words
    • 64 Pages
    Powerful Essays
    Read More
  • Good Essays

    Unit 3 Introduction to Marketing P4
    • 709 Words
    • 3 Pages

    Unit 3 Introduction to Marketing P4

    Marketing planning is the plan that helps meeting goals and objectives within the plan of action, trying new things also evaluating the performance against marketing targets…

    • 709 Words
    • 3 Pages
    Good Essays
    Read More
  • Powerful Essays

    Marketing Principles
    • 2341 Words
    • 10 Pages

    Marketing Principles

    PLAGIARISM Plagiarism is the act of representing as one’s own original work the creative works of another, without appropriate acknowledgement of the author or source. To avoid plagiarism – it is required that you write your assessment answers in your own words, but, also reference any sources of information using the Harvard Referencing system (please ask your Trainer/Assessor if you require support with this). COLLUSION Collusion is the presentation by a student of an assessment as his or her own which is in fact the result in whole or in part of unauthorised collaboration with another person or persons. Collusion involves the cooperation of two or more students in plagiarism or other forms of academic misconduct and as such both parties are subject to disciplinary action. Collusion or copying from other students is not permitted and will result in a “0”…

    • 2341 Words
    • 10 Pages
    Powerful Essays
    Read More
  • Good Essays

    Intro to Marketing Tesc Assignment 1
    • 1441 Words
    • 6 Pages

    Intro to Marketing Tesc Assignment 1

    Porter’s Five Forces relate to the competitive forces and their relative influence in the national chain retail department store industry:…

    • 1441 Words
    • 6 Pages
    Good Essays
    Read More
  • Powerful Essays

    Marketing Chapter 2
    • 1549 Words
    • 6 Pages

    Marketing Chapter 2

    (b) House of Hunan, Fairlawn, has quality Chinese, Thai, vegetarian, & sushi choices. Ambiance is reminiscent of old Chinatown and it is often full of patrons. Great chicken dishes, good dumplings, and very good quality beef. Service is good, food is fresh and satisfying, and the price is fair value.…

    • 1549 Words
    • 6 Pages
    Powerful Essays
    Read More
  • Good Essays

    Marketing Chapter One Study Guide
    • 691 Words
    • 3 Pages

    Marketing Chapter One Study Guide

    Marketing – the activity for creating and delivering offerings that benefit the organization, its stakeholders, and society.…

    • 691 Words
    • 3 Pages
    Good Essays
    Read More
  • Powerful Essays

    Mkt 120 Principles Of Marketing Syllabus
    • 1340 Words
    • 6 Pages

    Mkt 120 Principles Of Marketing Syllabus

    Syllabus includes Course Description, Rationale, Expected Student Outcomes, Responsibilities of Instructor and Student, Course Prerequisites and Credit Hours, Required Course Materials including Textbook, Course Content and Grading Policies.…

    • 1340 Words
    • 6 Pages
    Powerful Essays
    Read More
  • Good Essays

    Marketing Principles
    • 2032 Words
    • 9 Pages

    Marketing Principles

    Customer value is an organization 's rating of the value it provides to its customers relative to that provided by its competitors. It is the critical part of relationship marketing, achieve the customer satisfaction is the prime goal of the marketers and organization 's long-term goal is achieving through satisfying customer needs, then make profit for companies. It needs to be seen from the…

    • 2032 Words
    • 9 Pages
    Good Essays
    Read More
  • Powerful Essays

    Smiggle Marketing Approach and Analysis
    • 1523 Words
    • 7 Pages

    Smiggle Marketing Approach and Analysis

    Marketing can be defined as ‘the activity, set of institutions and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large’ (American Marketing Association, 2007). From this definition it can be seen that marketing is the process by which an organisation communicates with customers to promote, create a sense of value and ultimately sell their concept or product (Gamble, Gilmore, McCartnan-Quinn and Durkan, 2011). As previously stated marketing is not a singular function but a process. This process consists of a four basic elements; identifying a want or need within a market; creating a strategy to market a product to fulfil this need; delivering and communicating value to the customer; and the retaining of customers through the maintenance of this perceived value (Kotler, Brown, Burton, Deans and Armstrong, 2010, pg. 6).…

    • 1523 Words
    • 7 Pages
    Powerful Essays
    Read More
  • Satisfactory Essays

    marketing principles
    • 8471 Words
    • 34 Pages

    marketing principles

    1) Of the following successful marketing strategies in the past, today 's Nike has learned that the most important is ________.…

    • 8471 Words
    • 34 Pages
    Satisfactory Essays
    Read More
  • Good Essays

    Résumé Marketing Management, 14th Edition - Kotler & Keller
    • 26658 Words
    • 107 Pages

    Résumé Marketing Management, 14th Edition - Kotler & Keller

    KOTLER RESUME Marketing Management Philip Kotler – Kevin Lane Keller SUMMARY PART 1 Understanding Marketing Management 4 Defining Marketing for the 21st Century 4 Developing Marketing Strategies and Plans 5 PART 2 Capturing Marketing Insights 13 Collecting Information and Forecasting Demand 13 Conducting Marketing Research 16 PART 3 Connecting with Customers 18 Creating Long-term Loyalty Relationships 18 Analyzing Consumer Markets 21 Analyzing Business Markets 25 Identifying Market Segments and targets 28 PART 4 Building Strong Brands 31 Creating Brand Equity 31 Crafting the Brand Positioning 34 Competitive Dynamics 36 PART 5 Shaping the Market Offerings 39 Setting Product Strategy 39 Designing and Managing Services 41 Developing Pricing Strategies and Programs 46 PART 6 Delivering Value 53 Designing and Managing Integrated Marketing Channels 53 Managing Retailing, Wholesaling, and Logistics 58 PART 7 Communicating Value 60 Designing and Managing Integrated Marketing Communications 60 Managing Mass Communications : Advertising, Sales Promotions, Events and Experiences, and Public Relations 63 Managing Personal Communications : Direct and interactive Marketing, Word of Mouth, and Personal Selling 68 PART 8 Creating Successful Long-term Growth 72 Introducing New Market Offerings 72 Tapping into Global Offerings 86 Managing a Holistic Marketing Organization for the Long Run 93 PART1: UNDERSTANTING MARKETING AND MANAGEMENT CHAPTER 1: DEFINITNG MARKETING FOR THE 21st CENTURY THE IMPORTANCE OF MARKETING…

    • 26658 Words
    • 107 Pages
    Good Essays
    Read More

Related Topics