1. Evolving Perspectives
The Marketing Concept
Evolving Perspectives

2. What Is Marketing?
Simple Definition: Marketing is managing profitable customer relationships.
Goals:
Attract new customers by promising superior value.
Keep and grow current customers by delivering satisfaction.

3. Marketing Management Philosophies
Customer-Driven
Societal Marketing Concept
Marketing Concept
Selling Concept
Product Concept
Production Concept

4. The Production Concept

5. The Product Concept

6. Marketing and Sales Concepts Contrasted

7. Societal Marketing Concept

8. This Is a Need
Needs - state of felt deprivation including physical, social, and individual needs.

9. Maslow’s Hierarchy of Needs

10. This Is a Want
Wants - form that a human need takes, as shaped by culture and individual personality.

11. Need / Want Fulfillment
Needs and Wants Fulfilled through a Marketing Offer :
Some combination of products, services, information, or experiences offered to a market to satisfy a need or want.

12. What Satisfies Consumers’ Needs and Wants?
Products
Anything that can be Offered to a Market to Satisfy a Need or Want
Persons
Places
Organizations
Information
Ideas
The combination of tangible products, particular people, and certain activities in a particular place creates an experience (e.g., Disneyland)
We are moving toward being a less manufacturing-based society and a more service-oriented society.
Services
Activity or Benefit Offered for Sale That is Essentially
Intangible and Does Not Result in the Ownership of Anything

13. Marketing Myopia
Sellers pay more attention to the specific products they offer than to the benefits and experiences produced by the products.
They focus on the “wants” and lose sight of the “needs.”

14. This Is Demand
Wants
Buying Power
“Demand”

15. What is a Market? The set of actual and potential buyers of a product.
These people share a need or want that can be satisfied through exchange relationships.

16. Segmentation and Target Marketing#1 #2
Market Segmentation:
Divide the market into segments of customers
Target Marketing:
Select the segment to cultivate

17. Customer Satisfaction
Dependent on the product’s perceived performance relative to a buyer’s expectations.

18. Value and Satisfaction
Expectation
Performance 10 8
Expectation
Performance 8 10
If performance is lower than expectations, satisfaction is low.
If performance is higher than expectations, satisfaction is high.

19. Customer Perceived Value
Customer’s evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers.

20. Customer Relationship Levels
Full Partnership
Basic Relationship
Continuum

21. Customer Relationship Management
The process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction.