© Prentice Hall, 2007Excellence in Business, 3eChapter Connecting with Customers: The Art and Science of Marketing

© Prentice Hall, 2007Excellence in Business, 3eChapter Marketing in a Changing World Planning New product Execution

© Prentice Hall, 2007Excellence in Business, 3eChapter What is Marketing? Conception Pricing Promotion Distribution

© Prentice Hall, 2007Excellence in Business, 3eChapter Core Marketing Concepts Needs, wants, and demands Products and services Value, satisfaction, and quality Exchanges, transactions, relationships Markets

© Prentice Hall, 2007Excellence in Business, 3eChapter Types of Marketing Product marketing Place marketing Cause-related marketing

© Prentice Hall, 2007Excellence in Business, 3eChapter The Role of Marketing Needs and wants Exchange process Transactions

© Prentice Hall, 2007Excellence in Business, 3eChapter The Four Utilities Form Time Place Possession

© Prentice Hall, 2007Excellence in Business, 3eChapter Selling vs. Marketing Selling –Factory –Existing products –Selling and promoting –Profits through sales volume Marketing –Market –Customer needs –Integrated marketing –Profits through customer satisfaction

© Prentice Hall, 2007Excellence in Business, 3eChapter Customer Satisfaction Positive Customer Experiences Negative Customer Experiences Greater customer loyalty Positive “word of mouth” More sales opportunities Less price sensitivity Damaged business reputation Negative “word of mouth” Fewer sales opportunities Reduced business prospects

© Prentice Hall, 2007Excellence in Business, 3eChapter Marketing on the Leading Edge Increased accountability Technology and the human touch Business ethics and etiquette

© Prentice Hall, 2007Excellence in Business, 3eChapter Understanding Today’s Customers Sophisticated Price sensitive Demanding Informed

© Prentice Hall, 2007Excellence in Business, 3eChapter Understanding Today’s Customers Organizational market –Industry and commerce –Resellers –Government Consumer market –Individuals –Families –Households

© Prentice Hall, 2007Excellence in Business, 3eChapter The Consumer Decision Process Need recognition Information search Evaluation of alternatives Purchase Postpurchase evaluation

© Prentice Hall, 2007Excellence in Business, 3eChapter Factors That Influence the Buyer’s Decision Process Culture Social class Reference groups Self-image Situational factors

© Prentice Hall, 2007Excellence in Business, 3eChapter Purchasing in Organizations Decision-making factors –Economics and logic –Formal buying procedures –Multi-party participation –Buyer-seller relationship

© Prentice Hall, 2007Excellence in Business, 3eChapter Marketing Research Observations Surveys and questionnaires Experiments Interviews Small samples Focus groups

© Prentice Hall, 2007Excellence in Business, 3eChapter Database Marketing Customers –Preferences –Interactions –Behaviors

© Prentice Hall, 2007Excellence in Business, 3eChapter Planning Marketing Strategies Examine current marketing situation Assess opportunities and set objectives Develop marketing strategies

© Prentice Hall, 2007Excellence in Business, 3eChapter Examine the Current Marketing Situation Reviewing performance Evaluating competition Examining strengths and weaknesses Analyzing the external environment

© Prentice Hall, 2007Excellence in Business, 3eChapter Assess Opportunities and Set Objectives Market penetration New product development Geographic expansion Diversification

© Prentice Hall, 2007Excellence in Business, 3eChapter Develop the Marketing Strategy Segments and niches Target markets Market position Marketing mix

© Prentice Hall, 2007Excellence in Business, 3eChapter Segmenting Markets Demographics Geographics Psychographics Geodemographics Behavior Usage

© Prentice Hall, 2007Excellence in Business, 3eChapter Target Market Strategies Undifferentiated Differentiated Concentrated

© Prentice Hall, 2007Excellence in Business, 3eChapter Positioning the Product Features Services Image Category leadership

© Prentice Hall, 2007Excellence in Business, 3eChapter Developing the Marketing Mix Target market –Product –Price –Place –Promotion