1. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 1 Connecting with Customers: The Art and Science of Marketing

2. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 2 Marketing in a Changing World Planning New product Execution

3. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 3 What is Marketing? Conception Pricing Promotion Distribution

4. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 4 Core Marketing Concepts Needs, wants, and demands Products and services Value, satisfaction, and quality Exchanges, transactions, relationships Markets

5. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 5 Types of Marketing Product marketing Place marketing Cause-related marketing

6. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 6 The Role of Marketing Needs and wants Exchange process Transactions

7. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 7 The Four Utilities Form Time Place Possession

8. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 8 Selling vs. Marketing Selling –Factory –Existing products –Selling and promoting –Profits through sales volume Marketing –Market –Customer needs –Integrated marketing –Profits through customer satisfaction

9. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 9 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

10. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 10 Marketing on the Leading Edge Increased accountability Technology and the human touch Business ethics and etiquette

11. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 11 Understanding Today’s Customers Sophisticated Price sensitive Demanding Informed

12. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 12 Understanding Today’s Customers Organizational market –Industry and commerce –Resellers –Government Consumer market –Individuals –Families –Households

13. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 13 The Consumer Decision Process Need recognition Information search Evaluation of alternatives Purchase Postpurchase evaluation

14. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 14 Factors That Influence the Buyer’s Decision Process Culture Social class Reference groups Self-image Situational factors

15. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 15 Purchasing in Organizations Decision-making factors –Economics and logic –Formal buying procedures –Multi-party participation –Buyer-seller relationship

16. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 16 Marketing Research Observations Surveys and questionnaires Experiments Interviews Small samples Focus groups

17. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 17 Database Marketing Customers –Preferences –Interactions –Behaviors

18. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 18 Planning Marketing Strategies Examine current marketing situation Assess opportunities and set objectives Develop marketing strategies

19. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 19 Examine the Current Marketing Situation Reviewing performance Evaluating competition Examining strengths and weaknesses Analyzing the external environment

20. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 20 Assess Opportunities and Set Objectives Market penetration New product development Geographic expansion Diversification

21. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 21 Develop the Marketing Strategy Segments and niches Target markets Market position Marketing mix

22. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 22 Segmenting Markets Demographics Geographics Psychographics Geodemographics Behavior Usage

23. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 23 Target Market Strategies Undifferentiated Differentiated Concentrated

24. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 24 Positioning the Product Features Services Image Category leadership

25. © Prentice Hall, 2007Excellence in Business, 3eChapter 12 - 25 Developing the Marketing Mix Target market –Product –Price –Place –Promotion