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Marketing is the human activity directed at satisfying human needs and wants through an exchange process
Kotler
Marketing is a social and managerial process by which individuals and groups obtain what they want and need through creating, offering and exchanging products of value with others Kotler
Origins of Marketing
1850-1925 Production Era 1925-1952 Sales Era 1952-1990 Marketing Era 1990- today Relationship Era
Virtual Enterprise
The role of distribution channe Enviornmentakl Protection Customer a warehouse of informationl
Implications of marketing
Who are our existing / potential customers? What are their current / future needs? How can we satisfy these needs?
Can we offer a product/ service that the customer would value? Can we communicate with our customers?
Marketing as Concept
Marketing meens under satanding the customers need and responding to it It ia matter of orientation
Consumer Orientation
Futuristic Approaches
Marketing System
Marketing Culture
Marketing Concepts
Compitition
Product and brand
marketing enviornment
relationships and networks marketing channels suplu chain
Obtaining the information necessary for design and production that match buyer expectations.
Satisfying customer preferences.
Relationship marketing Developing and maintaining of long-term, cost-effective relationships with individual customers, suppliers, employees, and other partners for mutual benefit.
Production
Selling
Consumption
Integrated
Consumer
Satisfaction
Marketing
Effort
Feedback
Selling Philosophy
Marketing Philosophy
Consumer-Oriented Stresses Research and Consumer Analysis Looks at Groups of Consumers Profit-Oriented Directed to LongRange Goals
Two-Way Interactive Process Appropriate Adaptation to Mkting Environment Broad View of Consumer Needs Integrated Planning and Feedback
Knowledgeable Employees
Quick Service
Accuracy of Billing
Billing Timeliness
Competitive Pricing
Relationship Marketing
Through Relationship Marketing, companies build customer satisfaction and increase long-term customer loyalty.
Profitable Offensive (rather than defensive) Integrated Strategic (is future orientated) Effective (gets results) Hugh Davidson 1972
Marketing is a process of transaction between a buyer and a seller Both must gain It must resuly in a long lasting relationship and satisfying relationship among both between
Marketing Task
Ten rules of radical marketing
The CEO must own the marketing function. Make sure the marketing department starts small and flat and stays small and flat. Get face to face with the people who matter most the customers. Use market research cautiously. Hire only passionate missionaries.
Marketing Task
Love and respect your customers. Create a community of consumers. Rethink the marketing mix. Celebrate common sense. Be true to the brand.
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1. Negative demand
A major part of the market dislikes the product and may even pay a price to avoid it vaccinations, dental work, vasectomies, and gallbladder operations, for instance. Employers have a negative demand for ex-convicts and alcoholics as employees. The marketing task is to analyze why the market dislikes the product and whether a marketing program consisting of product redesign, lower prices, and more positive promotion can change beliefs and attitudes.
2. No demand
Target consumers may be unaware of or uninterested in the product. Farmers may not be interested in a new farming method, and college students may not be interested in foreignlanguage courses. The marketing task is to find ways to connect the benefits of the product with peoples natural needs and interests.
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This Is a Need
Needs - state of felt deprivation including physical, social, and individual needs.
This Is a Want
Wants - form that a human need takes, as shaped by culture and individual personality.
Some combination of products, services, information, or experiences offered to a market to satisfy a need or want.
This Is Demand
Wants Buying Power
Demand
The set of actual and potential buyers of a product. These people share a need or want that can be satisfied through exchange relationships.
8 Marketing Functions
Environmental analysis and marketing research:
Monitoring and adapting to external factors that affect success or failure, such as the economy and competition; and collecting data to resolve specific marketing issues.
Consumer analysis:
Examining and evaluating consumer characteristics, needs and purchase processes; and selecting the group(s) of consumers at which to aim marketing efforts.
Distribution planning:
Forming logistical relationships with intermediaries, physical distribution, inventory management, warehousing, transportation, allocating goods and services, wholesaling, and retailing.
Promotion planning:
Communicating with customers, the general public, and others through some type of advertising, public relations, personal selling, and/or sales promotion.
Customer Service
Customer Service tends to be intangible, but quite meaningful, to many customers. In todays highly competitive, global marketplace, the level of customer service a firm provides can affect its ability to attract and retain customers more than ever before.
Marketing Performers
Final Consumer Manufacturer or Service Provider Organizational Consumer
Wholesaler
Marketing Performers
Include: Consumers Manufacturers Service Providers Wholesalers Retailers Marketing Specialists
Endangers future growth because the company is focusing on a product rather than customer Companys are usually to narrowly defined.
MCI: We are a telephone company. or We are a communications company. Northwest Airlines: We are in the airline business. or We are in the transportation business.