Chapter 1 : Marketing

Chapter 1 : Marketing

1. Customer-focused

   • Understand + satisfy customer needs & wants
     • Create & add superior value + satisfaction
       • Capture value from customers
   • Building, managing & lasting profitable customer relationships
     • Attract new customers
     • Engage, keep & grow current customers

2. ↑ committed marketing

   • well-defined target markets

3. Marketplace & Customer Needs

   • Needs,wants & demands
     • Needs
       • Physical
         • food
         • clothings
         • warmth
         • safety
       • Social
         • belonging
         • affection
       • Individual
         • knowledge
         • self-expression
         • self-actualization
     • Wants (shaped by society culture & personality
     • Demand = wants + buying power
   • Market Offerings
     • Products
     • Services
     • Experiences
     • Information
     • Persons
     • Places
     • Organizations
     • Ideas
     • Marketing myopia (focus on specific products not benefits & experiences
   • Value & Satisfaction
     • ↓expectation & ↑satisfaction = ↑ customer delight
   • Exchange & Relationship
   • Markets
     • customer-managed relationships
     • actual + potential buyers

4. Strategy & Plan

   • Selecting Customers
     • Segmentation
     • Targeting
     • customer management
     • demand management
   • Choosing Value Proposition
     • Differentiation
     • Positioning
   • Market Orientation
     • Production concept
       • Available & highly affordable products
       • ↑ Production & distribution efficiency
     • Product concept (make-and-sell)
       • Quality
       • Performance
       • Innovative features
       • Kaizen (continuous product improvement)
     • Selling concept (inside-out)
       • large-scale selling & promotion
       • sales-transaction oriented
     • Marketing concept (outside-in)
       • customer-centered sense-and-respond
       • knowing target markets' needs & wants
       • deliver satisfactions
     • Societal-Marketing concept
       • short-run wants & long-run welfare
       • sustainable marketing (socially & environmentally responsible)
         • consumers' & society's well being
         • shared-values
           • societal needs
           • economic needs
       • purpose-driven
       • values-driven

5. Customer Relationship Management & Customer-Managed Relationships

   • Customer-Perceived Value
   • Customer Satisfaction
     • ↑ value & service + ↓ price > expectation = ↑satisfaction = ↑ loyalty = customer evangelist
   • Customer Relationship
     • basic
     • full
   • New Marketing / Customer-Engagement Marketing (direct & continuous)
     • conversations
     • experiences
     • community
   • Attraction marketing (engage consumers)
   • Consumer-Generated Marketing (consumer shape brand experiences)
   • Partner-relationship management

6. Capturing Value

   • Customer loyalty & retention
     • Customer lifetime value
       • 5 times cheaper keep old customers
     • Customer delight = brand emotional relationship
   • Market & customer share
     • Share
       • Share of waller
       • Share of stomach
       • Share of travel
       • Increase customer share :
         • offer varieties
         • cross-sell
         • up-sell
   • Customer equity (current + potential)
   • Right customer + Right relationships
     • Strangers
       • ↓ profitability + ↓ loyalty
       • Avoid invest in stranger & make money on every transaction
     • Butterflies
       • ↑ profitability + ↓ loyalty
       • Capture business as possible in short-time
     • True friends
       • ↑ profitable + ↑ loyalty
       • continuous relationship investment → engage, nurture, retain & grow → delight customers
         • True believers
     • Barnacles
       • ↑ loyalty + ↓ profitable
         • sell more
         • raise fees
         • ↓ service
         • "fire" customers

7. Marketing Landscape

   • Digital Age
     • Online
     • Mobile
     • Social Media (real-time marketing
   • Not-for-profit marketing
   • Globalization
   • Sustainable Marketing (Environment & Social)
     • caring capitalism

Images and files in the map