Professional Documents
Culture Documents
Chapter 1
Marketing:Creating and Capturing
Customer Value
PEARSON
Objective Outline
What Is Marketing
1
Objective Outline
Objective Outline
What Is Marketing?
Simplest
definition
Marketing is
managing profitable
customer
relationships.
Attract new
customers by
promising superior
value
Marketing Defined
Broadly defined, marketing is a social and managerial
process by which individuals and organizations obtain
what they need and want through creating and
exchanging value with others.
Marketing Process
This important figure shows marketing in a nutshell. By
creating value for customers, marketers capture value from
customers in return. This five-step process forms the
marketing frame work for the rest of the chapter and the
remainder of the text.
Understand
Understand the
the
marketplace
marketplace and
and
customer
customer needs
needs
and
and wants
wants
Design
Design
customer-driven
customer-driven
marketing
marketing
strategy
strategy
Construct
Construct an
an
integrated
integrated
marketing
marketing
program
program that
that
delivers
delivers
superior
superior value
value
Build
Build profitable
profitable
relationships
relationships
and
and create
create
customer
customer
delight
delight
Capture
Capture value
value
from
from
customers
customers to
to
create
create profits
profits
and
and customer
customer
equity
equity
Marketers
Set the right level of expectations
Not too high or low
Relationship
Marketing actions try to create, maintain, grow exchang
e relationships.
Markets
Each party in the system adds value. Walmart cannot fulfill
its promise of low prices unless its suppliers provide low
Markets
are
the
set
of
actual
and
potential
buyer
costs. Ford cannot deliver a high-quality car-ownership
s of aexperience
product.
unless its dealers provide outstanding service.
Arrows represent relationships that must be developed and
managed to create customers value and profitable customer
relationships.
Ch2
Ch7
The
Product
Concept
The Societal Marketing Concept
The
Selling
Concept
The
Marketing
Concept
The
Production
Concept
The product
concept
holds that
consumers will
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 i
ncludes product, price, promotion, and place.
Price
ct
Produ
t io n
o
m
o
r
P
Rapid Globalization
Sustainable Marketing
The Call for More
Social Responsibility
Rapid Globalization
Today, almost every company, large or small, is touched i
n some way by global competition.
Managers in countries around the world are increasingly t
aking a global, not just local, view of the companys indu
stry, competitors, and opportunities.
The End