DEVELOPING CUSTOMER RELATIONSHIPS AND VALUE THROUGH MARKETING CHAPTER 1 DEVELOPING CUSTOMER RELATIONSHIPS AND VALUE THROUGH MARKETING

WHAT IS MARKETING? Marketing: Using Exchanges to Satisfy Needs Marketing focuses on discovering and satisfying consumer needs

WHAT IS MARKETING? Requirements for Marketing to Occur Two or More Parties with Unsatisfied Needs Desire and Ability to Satisfy These Needs A Way for the Parties to Communicate Something to Exchange

What is marketing? A: Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.

HOW MARKETING DISCOVERS AND SATISFIES CONSUMER NEEDS Discovering Consumer Needs The Challenge of Launching Winning New Products Consumer Needs and Consumer Wants

HOW MARKETING DISCOVERS AND SATISFIES CONSUMER NEEDS What is a Market , Target market The Four Ps: Controllable Marketing Mix Factors The Uncontrollable, Environmental Factors

THE MARKETING PROGRAM: CUSTOMER RELATIONSHIPS Global Competition, Customer Value, and Customer Relationships Relationship Marketing and the Marketing Program Relationship Marketing: Easy to Understand / Difficult to Implement The Marketing Program

Marketing programs for two of Rollerblade’s skates, targeted at two distinctly different customer segments: fast-growing kids and fitness skaters.

An organization can’t satisfy the needs of all consumers, so it must focus on one or more subgroups, which are its target market

Product, Price, Promotion, Place What are the four marketing mix elements that make up the organization’s marketing program? Product, Price, Promotion, Place

What are uncontrollable variables? A: Environmental factors the organization’s marketing department can’t control. These include social, economic, technological, competitive, and regulatory forces.

HOW MARKETING BECAME SO IMPORTANT Evolution of Market Orientation Production Era Sales Era The Marketing Concept Era The Market Orientation Era Customer relationship management (CRM)

HOW MARKETING BECAME SO IMPORTANT Ethics and Social Responsibility: Balancing the Interests of Different Groups Ethics Social Responsibility Societal marketing concept Macromarketing Micromarketing

HOW MARKETING BECAME SO IMPORTANT The Breadth and Depth of Marketing Who Markets? What is Marketed? Who Buys and Uses What is Marketed? Ultimate consumers Organizational buyers Who Benefits? How Do Consumers Benefit Utility

What are the two key characteristics of the marketing concept? A: An organization should: (1) Strive to satisfy the needs of consumers (2) While also trying to achieve the organization’s goals.