PRINMAR
Principles of
Marketing
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TOPICS
Module 2:
Understanding the
Market and the
Marketplace
Module 1:
Introduction to
Marketing
Basic
Concepts of
Marketing and its
process.
Consumer and
Business Buying
Behavior
The Marketing
Environment
Managing Marketing
Information
Market
Segmentation, Target
Marketing and Market
Positioning
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Module 3: Company
and Marketing:
Partnering to Build
Customer Relationship
Strategic Marketing
Planning
Product Concept
and Strategy
Pricing Concept
and Strategy
Placing Products:
Marketing Channels
and Supply Chain
Management
Promoting
Products: Integrated
Marketing
Communication
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Module 1:
Introduction
to Marketing
Basic concepts of
Marketing and its
process.
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Module 1: Introduction to Marketing
Learning Objectives
Define marketing and understand the
marketing process.
Explain the core customer and marketplace
concepts.
Define marketing management and compare
the five marketing management orientations.
Understand customer relationship
management and strategies.
Describe the trends that are changing the
marketing landscape.
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Module 1: Introduction to Marketing
Topic Outline
Definition of Marketing
The marketing process
Core customer and marketplace
concepts
Marketing management orientations
Customer Relationship Management
The New Marketing Landscape
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Marketing?
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Marketing
The process by
which companies
create value for
customers and
build strong
relationships in
order to capture
value from
customers in
return. (Kotler &
Armstrong,2008, p.5)
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Interacting Components of
Marketing
3 cs of Marketing (Josiah Go)
CUSTOMER
COMPANY
COMPETITION
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The Marketing Process
Capture value
from customers
in return
Create value for customers
and build customer
relationships
Understand
the
marketplace
and
customer
needs and
wants
Design a
customerdriven
marketing
strategy
Construct
an
integrated
marketing
program
that delivers
superior
value
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Build
profitable
relationships
and create
customer
delight
Technology
Capture
value from
customers
to create
profits and
customer
equity
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Marketing
process
begins,
continues and
ends with
customers.
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Marketing Process
Step 1:
Understanding the
Marketplace and
Customer Needs
Core customer and marketplace concepts
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Needs,
Wants,
and
demands
Market
s
Core
Core Customer
Customer
and
and
Marketplace
Marketplace Concepts
Concepts
Exchanges
and
relationships
Market
Offering
s
Value and
satisfaction
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Human
Needs
States of felt
deprivation
Not created by
marketers; part of
the human make up
Physical needs (food,
clothing, warmth and
safety)
Social needs (belonging
and affection)
Individual
needs
( knowledge and self
expression)
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Wants
form taken from
human needs that are
shaped by culture and
individual personality.
Describe in terms of
objects that will satisfy
needs.
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I want to buy...
Deman
ds
wants backed
by buying
power.
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Market Offerings
Combination of goods, services,
information, or experiences offered
to a market to satisfy a need or
want.
Tool to solve a consumer
problem
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Customer Perceived
Value
The customers
evaluation of the
difference between
all the benefits all
the costs of a market
offering relative to
those of competing
offers.
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Customer
Satisfaction
The extent to
which a
products
perceived
performance
matches a
buyers
expectations.
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Exchanges
The act of obtaining a desired
object from someone by offering
something in return.
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Customer
Relationship
Management
The overall process of
building and maintaining
profitable customer
relationships by delivering
superior customer value
and satisfaction.
Deals with all aspects of
acquiring, keeping and
growing customers.
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Actual Buyers
Marke
ts
are buyers
who share
particular
need or
want.
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Potential Buyers
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Step 2:
Design customer-driven
Marketing Process
marketing strategy
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Marketing Management
The art and science
of choosing target
markets and building
profitable
relationships with
them.
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(Kotler & Armstrong,2008, p.5)
Marketing managers aim is to
find, attract, keep, and grow target
customers by creating, delivering
and communicating superior
customer value.
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Functions
Customer
Manageme
nt
Demand
Manageme
nt
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Customer
Management
Select customers that
can be served well and
profitably.
Choosing a Value
Proposition
set of benefits or values it
promises to deliver to
customers to satisfy their
needs.
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Demand
Management
Marketers must deal
with different demand
states ranging from no
demand to too much
demand.
Demarketing: to reduce
the number of
customers or to shift
their demand
temporarily
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permanently.
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Marketing
Management
Orientations
Production, Product,
Selling, Marketing and
Societal Marketing
Concepts
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Customers will favor products that are
Production
Production Concept
Concept available and highly affordable
Improve production & distribution efficienc
Product
Product Concept
Concept
Selling
Selling Concept
Concept
Customers will favor products that offer
the most quality, performance, and
innovative features
Make continuous product improvements
Customers will buy products only if
the company promotes/ sells these
products
Create sales transactions
Focuses on needs/ wants of target
markets & delivering satisfaction
Marketing
Marketing Concept
Concept better than competitors
Focuses on needs/ wants of target
Societal
Marketing
Societal Marketing markets & delivering superior value
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Concept
and
societys
well-being
Concept
Marketing Process
Step 3:
Preparing an
Integrated Marketing
Plan and Program
Marketing Mix (4Ps of Marketing)
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4Ps of Marketing 4Cs of Marketing
(Customers
(Companys
Viewpoint)
View
Point)
Product: a needsatisfying market
offer
Price: charge for
the offer
Place: make the
offer available to
target market
Promotion:
communicate with
target customers
about the offer and
persuade them of
its merits.
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Customers
Solution
Cost
Convenience
Communication
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Marketing Process
Step 4:
Building Customer
Relationships
Customer Relationship Management
Partner Relationship Management
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Trends in CRM
Relating with
more carefully
selected
customers
Relating for long
term
Relating Directly
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Partner Relationship
Management
Working closely with
partners in other company
departments and outside
the company to jointly
bring greater value to the
customers. (Kotler et. al,2008, p.18)
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Marketing Process
Step 5:
Capturing
value from
customers
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Outcomes of creating customer
value
Customer loyalty and
retention
Customer lifetime value: the
value of the entire stream of
purchases that a customer
would make over lifetime of
patronage.
Growing share of
customer
Share of customer: the
portion of the customers
purchasing that a company
gets in its product categories
Building Customer
Equity:
Customer equity: the total
combined customer lifetime
values of all the companys
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customers.
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New Marketing
Landscape
New digital age:
growth in computer,
telecommunications,
information, and
transportation.
Rapid globalization
Call for more ethics
and social
responsibility
Growth of not-for-profit
marketing.
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Summary:
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.
Understanding customers needs, wants and
demands will help the company to design wantsatisfying market offerings and build value-laden
customer relationships by which they capture
customer lifetime value and greater share of
customer.
To design a winning marketing strategy, the
company must decide who will it serve and how it
will serve targeted customers.
Marketers should take advantage of new
opportunities for building relationships with their
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customer, theirInstruction
marketing
partners
and the
world
around them.
End of presentation
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