Week 1 Marketing: The Art And Science Of Satisfying Customers

MARKETING :THE ART & SCIENCE OF SATISFYING CUSTOMERS

Week 1

Prepared by Anna Riana Putriya | www.slideshare.net/natriumz | [email protected]

What is marketing ?

Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably

Chartered Institute of Marketing (UK)

www.slideshare.com/natriumz

Marketing Defined:

“Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging value with others”

Marketing management is

the art and science of choosing target markets and getting, keeping, and

growing customers through creating, delivering, and communicating

superior customer value.superior customer value.


Marketing VS Sales

SELLING IS ONLY THE TIP OF THE ICEBERG


“There will always be need for some selling. But the aim of marketing is to make selling superfluous.

The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself.

Ideally, marketing should result in a customer who is ready to buy. All that should be needed is

to make the product or service available.”-Peter Drucker-

Marketing is about managing profitable customer relationships

• Attracting new customers

• Retaining and growing current customers• Retaining and growing current customers


Designing the “right” product


Only the best is good enough for Lexus customers


Core Customer and Marketplace Concept

Needs, wants, and demands

Markets

Core

Products, services, and experiences


Exchange, transactions,

and relationships

CoreMarketingConcepts

Value, satisfaction,and quality

Value

CUSTOMER VALUE

Perceived Value

• The customer’s evaluation of the difference between benefits and costs.

• Customers often do not judge values and costs accurately or objectively.


The relationship between

benefits and the sacrifice

necessary to obtain those

benefits.


Satisfaction

CUSTOMER

SATISFACTION

• The feeling that a product met or exceeded the

customer’s expectations.

• Product’s perceived performance relative to

customer’s expectations.


So marketing is ...

The process of building profitable customer relationships

by creating value for customers and

capturing value in returncapturing value in return


Reasons for studying Marketing

Why Study Marketing ?


Importantto

Society

Importantto

Business

GoodCareer

Opportunities

+

Marketing affects you every day!

Marketing Mix

MARKETING

MIX

ProductPlace


Product

PricePromotion

Place

CustomerSolution

Customer CostCommunication

Distribution

A simple five-step model of the marketing process

Understand the marketplace and customer needs

and wants

Design a customer-driven marketing strategy

Construct a marketing program that delivers

superior value

Create value for customers and build customer relationship


Build profitable relationship and create customer delight

Capture value from customers to create profits and customer quality

Capture value from customers in return

Elements of A Modern Marketing System

Company (marketer)

Marketing


Suppliers

Company (marketer)

Marketing intermediaries

End Users

Marketing Management Orientations

Key

2. ProductConcept

1. ProductionConcept

5. SocietalConcept


Key MarketingConcepts

3. SellingConcept

4. MarketingConcept

5. SocietalConcept

Production Concept

Product Concept

• Consumers prefer products that are widely available and inexpensive• What can we make efficiently?

• Consumers favor products that offer the most quality, performance, or innovative features

• What can we make or do best?


Selling Concept

Marketing Concept

• Consumers will buy products only if the company aggressivelypromotes/sells these products

• How can we sell more aggressively?

• Focuses on needs/ wants of target markets & delivering value better than competitors

• What do customers want and need?

Marketing Concept• Focuses on needs/ wants of target markets & delivering value better

than competitors• What do customers want and need, and how can we benefit society?

The Selling and Marketing Concepts Contrasts


Marketing V.S. Production Concept


Marketing Concept


Societal Marketing

SOCIETAL

MARKETING

ORIENTATIONAn organization exists not only to satisfy customer wants

but also to preserve or enhance individuals’ and society’s

long-term best interests.


• Less toxic products

• More durable products

• Products with reusable

or recyclable materials

Societal Marketing Concept

Society(Human Welfare)


Consumers(Satisfaction)

Company(Profits)

Societal

Marketing

Concept

Example :


Marketing Challenges

Non-profitMarketing

Digital Age


EMERGING

CHALLENGESEthics and

Social ResponsibilityGlobalization

Marketing Relationship

Criticisms of Marketing


Chocolat movie trailler


Week 1 Marketing: The Art And Science Of Satisfying Customers

Education

marketing conceptwww

aim of marketing

marketing strategy

study marketing

marketing processcreate

marketing concepts contrasts

marketing vs sales selling

value perceived value