1.
Marketing: Creating and Capturing
Customer Value
Creating and Capturing Customer Value
Topic Outline
• What Is Marketing?
• Understand the Marketplace and Customer Needs
• Designing a Customer-Driven Marketing Strategy
• Preparing an Integrated Marketing Plan and Program
• Building Customer Relationships
• Capturing Value from Customers
• The Changing Marketing Landscape
What Is Marketing?
Marketing is a process by which companies
create value for customers and build
strong customer relationships to capture
value
from customers in
return
What Is Marketing?
The Marketing Process
Understanding the Marketplace
and Customer Needs
Core Concepts
• Customer needs, wants, and demands
• Market offerings
• Value and satisfaction
• Exchanges and relationships
• Markets
Understanding the Marketplace
and Customer Needs
Customer Needs, Wants, and Demands
Understanding the Marketplace
and Customer Needs
• Market offerings are some
combination of products,
services, information, or
experiences offered to a
market to satisfy a need or
want
• Marketing myopia is
focusing only on existing
wants and losing sight of
underlying consumer
needs
Understanding the Marketplace
and Customer Needs
Customer Value and Satisfaction
Expectations
Understanding the Marketplace
and Customer Needs
Exchange is the act of obtaining a desired
object from someone by offering something in
return
Understanding the Marketplace
and Customer Needs
Markets are the set of actual and
potential buyers of a product
Designing a Customer-Driven
Marketing Strategy
Marketing management is the art and science
of choosing target markets and building
profitable relationships with them
– What customers will we serve?
– How can we best serve these customers?
Designing a Customer-Driven Marketing
Strategy
Selecting Customers to Serve
Market segmentation refers to dividing the
markets into segments of customers
Target marketing refers to which segments to
go after
Designing a Customer-Driven Marketing
Strategy
Selecting Customers to Serve
Demarketing is marketing to reduce demand
temporarily or permanently; the aim is not to
destroy demand but to reduce or shift it
Designing a Customer-Driven Marketing
Strategy
Choosing a Value Proposition
The value proposition is the set of benefits or
values a company promises to deliver to
customers to satisfy their needs
Designing a Customer-Driven Marketing
Strategy
Marketing Management Orientations
Designing a Customer-Driven Marketing
Strategy
Marketing Management Orientations
Production concept is the idea that consumers
will favor products that are available or highly
affordable
Designing a Customer-Driven Marketing
Strategy
Marketing Management Orientations
Product concept is the idea that consumers will
favor products that offer the most quality,
performance, and features. Organization
should therefore devote its energy to making
continuous product improvements.
Designing a Customer-Driven Marketing
Strategy
Marketing Management Orientations
Selling concept is the idea that consumers
will not buy enough of the firm’s products
unless it undertakes a large scale selling and
promotion effort
Designing a Customer-Driven Marketing
Strategy
Marketing Management Orientations
Marketing concept is the idea
that achieving organizational
goals depends on knowing
the needs and wants of the
target markets and delivering
the desired satisfactions
better than competitors do
Designing a Customer-Driven Marketing
Strategy
Marketing Management Orientations
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
Designing a Customer-Driven
Marketing Strategy
Preparing an Integrated Marketing
Plan and Program
The marketing mix is the set of tools (four Ps)
the firm uses to implement its marketing
strategy. It includes product, price, promotion,
and place.
Integrated marketing program is a
comprehensive plan that communicates and
delivers the intended value to chosen
customers.
Building Customer Relationships
Customer Relationship Management (CRM)
• The overall process of
building and maintaining
profitable customer
relationships by delivering
superior customer value and
satisfaction
Building Customer Relationships
Relationship Building Blocks: Customer Value and Satisfaction
Building Customer Relationships
Customer Relationship Levels and Tools
Building Customer Relationships
The Changing Nature of Customer Relationships
• Relating with more carefully selected customers
uses selective relationship management to target
fewer, more profitable customers
• Relating more deeply and interactively by
incorporating more interactive two way
relationships through blogs, Websites, online
communities and social networks
Building Customer Relationships
Partner relationship management involves
working closely with partners in other
company departments and outside the
company to jointly bring greater value to
customers
Building Customer Relationships
Partner Relationship Management
• Partners inside the company is every function
area interacting with customers
– Electronically
– Cross-functional teams
• Partners outside the company is how marketers
connect with their suppliers, channel partners,
and competitors by developing partnerships
Building Customer Relationships
Partner Relationship Management
• Supply chain is a channel that stretches from
raw materials to components to final products
to final buyers
• Supply management
• Strategic partners
• Strategic alliances
Capturing Value from Customers
Creating Customer Loyalty and Retention
• Customer lifetime value is the value of the
entire stream of purchases that the customer
would
make over a
lifetime of
patronage
Capturing Value from Customers
Growing Share of Customer
Share of customer is the portion of the
customer’s purchasing that a company gets in
its product categories
Capturing Value from Customers
Customer equity is
the total combined
customer lifetime
values of all of the
company’s
customers
Capturing Value from Customers
Building Customer Equity
• Building the right relationships with the right
customers involves treating customers as
assets that need to be managed and
maximized
• Different types of customers require different
relationship management strategies
– Build the right relationship with the right customers
The Changing Marketing Landscape
Major Developments
So, What Is Marketing?
Pulling It All Together
Dr. Mohamad Gita Indrawan, S.T., M.M
MAGISTER MANAJEMEN
UNIVERSITAS BATAM
2021
