1. Principles of Marketing
Section 2
By: Ms. Eman Elfar

2. Marketing process

3. Value and satisfaction
Customer value: the difference between all the benefits customer get from using the product and all the cost of getting this product.
Customer’s decisions to buy a product depend on his expectations about the value and satisfaction he will get from various market offerings.

4. Exchange :is the act of obtaining a desired object from someone by offering something in return Transaction: A trade of value between tow parties The Marketing is : The process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return

5. Markets are the set of all actual and potential buyers of a product or service Marketing management : is the art and science of choosing target markets and building profitable relationships with them.

6. Designing a Customer-Driven Marketing Strategy
Frist step in designing a customer-driven marketing strategy is selecting customers to serve
There are tow basic decisions in this step:
Market segmentation refers to dividing the markets into segments of customers
Target marketing refers to which segments the company will serve.

7. successful marketing management should focus on both customer management and demand management.
Customer management :is the process of selecting customers that can be served well and profitably
Demand management: is the process that aim to Finding and increasing demand, and also changing or reducing demand such as in De-marketing

8. De-marketing:
is marketing to reduce demand temporarily or permanently;
The aim of de-marketing is not to destroy demand but to reduce or shift it.

9. Marketing Management Orientations
Production concept
Product concept
Selling concept
Marketing concept
Societal concept

10. Marketing Management Orientations
Production concept is the idea that consumers will favor products that are available or highly affordable ( focuses on the quantity )
Product concept is the idea that consumers will favor products that offer the most quality, performance, and features. Organizations should therefore devote its energy to making continuous product improvements. (focus on the product itself)

11. Selling concept The idea that consumers will not buy enough of the firm’s products unless it undertakes a large scale selling and promotion effort.(The focus of selling concept is on selling activities and promotion).
Marketing concept The idea of this concept is that achieving organizational goals depends on knowing the needs and wants of the target markets and delivering the desired satisfactions better than competitors do.

12. The difference between selling & marketing concept

13. Societal marketing concept: is the idea that a company should make good marketing decisions by considering consumers’ wants, the company’s requirements, consumers’ long-term interests, and society’s long-run interests( the focus is on the interest of all stakeholders)

14. Preparing an Integrated Marketing Plan and Program
Marketing mix is the set of tools the firm uses to implement its marketing strategy.
It includes:
product,
price,
Promotion
place

15. Building Customer Relationships
Customer relationship management:
The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction

16. ________ is the act of obtaining a desired object from someone by offering something in return.
Exchange
Donation
Market offering
Valuation
Confiscation

17. Consumer research, product development, communication, distribution, pricing, and service are all core ________ activities.
outsourcing
marketing
positioning
production
logistics

18. Which of the following statements is true of the selling concept?
It follows the customer-centered sense-and-respond philosophy.
It is typically practiced with unsought goods. It takes an outside-in perspective.
It requires minimum promotion efforts.
It creates long-term, profitable customer relationships

19. Which of the following marketing orientations holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do?
the selling concept
the production concept
the societal marketing concept
the marketing concept
the product concept

20. Which of the following marketing strategies should marketing managers focus on to manage detailed information about individual customers and carefully manage customer touchpoints to maximize customer loyalty?
customer divestment
partner relationship management
customer relationship management
customer-managed relationships
the societal marketing concept

21. True or false
Market segmentation is the process of seeking fewer customers and reduced demand for profit maximization only.
Fast Food, Inc. that views marketing as the process of finding and retaining profitable customers by providing them with the food they want. Fast Food, Inc. practices societal marketing.
Big company can serve all types of customer.
Marketing mix is a tool to achieve marketing strategy

22. True or false
The difference between the values the customer gains from owning and using a product and the costs of obtaining the product is called customer satisfaction.
In societal marketing, the firm focuses only on the interest of owners and customers.
In selling concept, the company achieve profit through sales and promotion effort.
The aim of de-marketing is to destroy demand