際際滷

際際滷Share a Scribd company logo
Session 1
After this session, Students will be able to
learn
 What is Marketing
 Understanding the marketplace
 Why Marketing
 Some fundamental concepts of marketing
 Scope of Marketing
 What are the different domains of
Marketing
 The transition of Marketing in 21st Century
Session Objectives
Consumers Problems
Needs
Needs are the states of felt deprivation e.g. thirst
(water), Hunger (food) etc
Wants
Wants are the alternatives to satisfy the needs
Preferences
The criterion of priority for one product on the
other
Demand
Wants backed by buying power, or willingness to
buy and ability to buy
Value
The ability of a product
to satisfy a need
effectively for which it is
developed
 Customers form
expectations regarding
value
 Marketers must deliver
value to consumers
Customer
perceived value:
The difference between
total customer value
and total customer cost
Customer Life
Time Value:
The value of the
customers entire stream
of purchases over a
lifetime of support
Share of
customer: The
portion of the
customers purchasing
that a company gets in
its product categories
Customer Equity:
The total combined
customer lifetime
values of all of the
companys customers
Sharing Value with Customers
Customer relationship
management (CRM)
The overall process of building and
maintaining profitable customer
relationships by delivering superior
customer values and satisfaction.
Customer Satisfaction
The extent to which a
products perceived
performance
matches a buyers expectation.
Customer Dissatisfaction
The extent to which a
products perceived
performance recedes a
buyers expectation
Customer Delight
The extent to which a
products perceived
performance exceeds a
buyers expectation
Value Delivery Process
Exchange
Process by which one or more
parties give something of value
to each other to satisfy
perceived needs
Transaction
A physical/actual trade of values
between two or more parties
 Monetary Trade
 Barter Trade
Transfer
A one way trade in which one
party gives something to another
and takes nothing in exchange
e.g. gifts, charities
What Marketing is
Producer
/Seller
Communication
Product/Service
Money
Feedback
Consumer
Marketing
The process of developing and maintaining profitable
customer relationship.
a. Customer Needs, Wants, and Demands
b. Market Offerings (Products and Services)
c. Value and Satisfaction
d. Exchanges and Relationships
e. Markets
1. 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
 Short sightedness by business firms causing
management to define their business too
narrowly)
b. Market Offerings (products and services)
a. Customer Needs, Wants and Demands
Customer Needs, Wants, and Demands
 Need

State of felt deprivation
 Wants

The form human needs
take as shaped by culture
and individual personality.
 Demands

Wants which are backed by
buying power
Product
A market offering (tangible or intangible) that can be
offered in a market for attention, acquisition, use, or
consumption that might satisfy a need or a want valuably.
Produce
Experience
Idea
Property
Intellectual
Property
Services
Any benefit or activity that one party can offer to
another, that is essentially intangible and do not occur
in transfer of ownership
Product Support Services
A market offering that is the combination of both Product as well as Services
c. Value and Satisfaction
Exchange is the act of obtaining a desired
object from someone by offering something in
return
d. Exchanges and Relationships
Markets are the set of actual and
potential buyers of a product
e. Markets
2. 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?
How to Design Winning Marketing
Strategy
Market segmentation refers to dividing the markets into
segments of customers
Target marketing refers to which segments to go after
Demarketing is marketing to reduce demand temporarily
or permanently; the aim is not to destroy demand but to
reduce or shift it.
Marketing Management
Orientations
Production Concept is the idea that consumers will
favor products that are available or highly affordable
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.
Selling Concept is the idea that consumers will not buy
enough of the firms products unless it undertakes a large
scale selling and promotion effort
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
Societal : concept is the idea that a company should make good
marketing decisions by considering consumers wants, the
companys requirements, consumers long-term interests, and
societys long- run interests
3. 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.
Introduction to marketing management for BSAM
Customer Relationship Management (CRM)
The overall process of building and maintaining
profitable customer relationships by delivering
superior customer value and satisfaction
4. Building Customer Relationships
Relationship Building Blocks: Customer Value
and Satisfaction
5. 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.
Growing Share of Customer
Share of customer is the portion of
the customers purchasing that a
company gets in its product
categories.
Customer Equity is the total combined
customer lifetime values of all of the
companys 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
Building the Right Relationships
with the Right Customers
High
Profitability
Low
Long-term customers
Short-term customers
Strangers
Little fit between
companys offerings
and customers
needs; lowest profit
potential
Butterflies
Good fit between
companys offerings
and customers
needs; high profit
potential
True Friends
Good fit between companys
offerings and customers
needs; highest profit potential
Barnacles
Limited fit between
companys offerings and
customers needs; low profit
potential
Projected Loyalty
Ad

Recommended

Airline-Airport-Marketing.pdfrtttyyyyuuuuuugfffghhfxsghh
Airline-Airport-Marketing.pdfrtttyyyyuuuuuugfffghhfxsghh
ProfDrSiddharthaGhos
chapter-1.pdf
chapter-1.pdf
NirotDejkamhaeng1
Kotler Principles of marketing latest edition 1
Kotler Principles of marketing latest edition 1
Dipu489245
Chapter 1 for_principles_of_marketing
Chapter 1 for_principles_of_marketing
AnupomCh
Chapter 1.pdf
Chapter 1.pdf
facultyNUBTK
Marketing - Chapter 1
Marketing - Chapter 1
darcy.butler
Marketing intro
Marketing intro
prachinishu
Unit-1.pptx
Unit-1.pptx
gururaj101143
Marketing by amir nasry printed ver 3
Marketing by amir nasry printed ver 3
Amir Nasry
The marketing process
The marketing process
Rowbi
1
1
Qasim_wazir
Marketing Process
Marketing Process
EzAzMahmood1
Marketing Process.pdf
Marketing Process.pdf
AbdullahAlMamun37986
Chapter 1_principle of marketing_Overview.pdf
Chapter 1_principle of marketing_Overview.pdf
linh212270
Chapte-1:The marketing process of strategy and value from strong customer re...
Chapte-1:The marketing process of strategy and value from strong customer re...
MD.TANVIR AHMMED
Chapter_1_for_Principles_of_Marketing.ppt
Chapter_1_for_Principles_of_Marketing.ppt
FatimaAbboud1
Managing profitable customer relationships
Managing profitable customer relationships
Umair Aslam
Marketing Management - What is Marketing ?
Marketing Management - What is Marketing ?
FaHaD .H. NooR
MKT Week 1-2.pptx.......................
MKT Week 1-2.pptx.......................
muhammadwaqas98769
Understanding Customer Needs and Value.pptx
Understanding Customer Needs and Value.pptx
FiqhStation
Introduction to Marketing management By Nitin Shekapure
Introduction to Marketing management By Nitin Shekapure
Nitin Shekapure
Marketing for the 21st Century
Marketing for the 21st Century
Khawaja Naveed
Marketing chapter 1
Marketing chapter 1
WAQASZIA105
Marketing: Managing Profitable Customer Relationships
Marketing: Managing Profitable Customer Relationships
Sadia Textile
Schiffam01
Schiffam01
jollyguy1987
Chapter 1 Consumer Behavior Its Origins And Strategic Applications
Chapter 1 Consumer Behavior Its Origins And Strategic Applications
Avinash Kumar
Basic marketing question
Basic marketing question
rashed55
INTRODUCTION OF MARKETING
INTRODUCTION OF MARKETING
faizpis
Bonita 2022.1 Release Campaign New Features & Marketing Assets
Bonita 2022.1 Release Campaign New Features & Marketing Assets
sohamdatta047
ANewswire vs OpenPR_ Which Is More Effective for European Reach
ANewswire vs OpenPR_ Which Is More Effective for European Reach
https://anewswire.com/

More Related Content

Similar to Introduction to marketing management for BSAM (20)

Marketing by amir nasry printed ver 3
Marketing by amir nasry printed ver 3
Amir Nasry
The marketing process
The marketing process
Rowbi
1
1
Qasim_wazir
Marketing Process
Marketing Process
EzAzMahmood1
Marketing Process.pdf
Marketing Process.pdf
AbdullahAlMamun37986
Chapter 1_principle of marketing_Overview.pdf
Chapter 1_principle of marketing_Overview.pdf
linh212270
Chapte-1:The marketing process of strategy and value from strong customer re...
Chapte-1:The marketing process of strategy and value from strong customer re...
MD.TANVIR AHMMED
Chapter_1_for_Principles_of_Marketing.ppt
Chapter_1_for_Principles_of_Marketing.ppt
FatimaAbboud1
Managing profitable customer relationships
Managing profitable customer relationships
Umair Aslam
Marketing Management - What is Marketing ?
Marketing Management - What is Marketing ?
FaHaD .H. NooR
MKT Week 1-2.pptx.......................
MKT Week 1-2.pptx.......................
muhammadwaqas98769
Understanding Customer Needs and Value.pptx
Understanding Customer Needs and Value.pptx
FiqhStation
Introduction to Marketing management By Nitin Shekapure
Introduction to Marketing management By Nitin Shekapure
Nitin Shekapure
Marketing for the 21st Century
Marketing for the 21st Century
Khawaja Naveed
Marketing chapter 1
Marketing chapter 1
WAQASZIA105
Marketing: Managing Profitable Customer Relationships
Marketing: Managing Profitable Customer Relationships
Sadia Textile
Schiffam01
Schiffam01
jollyguy1987
Chapter 1 Consumer Behavior Its Origins And Strategic Applications
Chapter 1 Consumer Behavior Its Origins And Strategic Applications
Avinash Kumar
Basic marketing question
Basic marketing question
rashed55
INTRODUCTION OF MARKETING
INTRODUCTION OF MARKETING
faizpis
Marketing by amir nasry printed ver 3
Marketing by amir nasry printed ver 3
Amir Nasry
The marketing process
The marketing process
Rowbi
Marketing Process
Marketing Process
EzAzMahmood1
Chapter 1_principle of marketing_Overview.pdf
Chapter 1_principle of marketing_Overview.pdf
linh212270
Chapte-1:The marketing process of strategy and value from strong customer re...
Chapte-1:The marketing process of strategy and value from strong customer re...
MD.TANVIR AHMMED
Chapter_1_for_Principles_of_Marketing.ppt
Chapter_1_for_Principles_of_Marketing.ppt
FatimaAbboud1
Managing profitable customer relationships
Managing profitable customer relationships
Umair Aslam
Marketing Management - What is Marketing ?
Marketing Management - What is Marketing ?
FaHaD .H. NooR
MKT Week 1-2.pptx.......................
MKT Week 1-2.pptx.......................
muhammadwaqas98769
Understanding Customer Needs and Value.pptx
Understanding Customer Needs and Value.pptx
FiqhStation
Introduction to Marketing management By Nitin Shekapure
Introduction to Marketing management By Nitin Shekapure
Nitin Shekapure
Marketing for the 21st Century
Marketing for the 21st Century
Khawaja Naveed
Marketing chapter 1
Marketing chapter 1
WAQASZIA105
Marketing: Managing Profitable Customer Relationships
Marketing: Managing Profitable Customer Relationships
Sadia Textile
Chapter 1 Consumer Behavior Its Origins And Strategic Applications
Chapter 1 Consumer Behavior Its Origins And Strategic Applications
Avinash Kumar
Basic marketing question
Basic marketing question
rashed55
INTRODUCTION OF MARKETING
INTRODUCTION OF MARKETING
faizpis

Recently uploaded (20)

Bonita 2022.1 Release Campaign New Features & Marketing Assets
Bonita 2022.1 Release Campaign New Features & Marketing Assets
sohamdatta047
ANewswire vs OpenPR_ Which Is More Effective for European Reach
ANewswire vs OpenPR_ Which Is More Effective for European Reach
https://anewswire.com/
Impact of Social Media on Consumer Buying Behaviour of Personal Care Products
Impact of Social Media on Consumer Buying Behaviour of Personal Care Products
KARTIKTHANTH1
AIO Hurting Traffic? How To Identify True Loss With GA4, GSC & Rank Tracking
AIO Hurting Traffic? How To Identify True Loss With GA4, GSC & Rank Tracking
Search Engine Journal
Boost Your Communication with DIGINTRA'S Bulk SMS Service
Boost Your Communication with DIGINTRA'S Bulk SMS Service
DIGINTRA Teleservices
TRESemme Objective, Source of Growth, Target Audience.pdf
TRESemme Objective, Source of Growth, Target Audience.pdf
giselladarfian
Why Punes Shivsrushti Matters
Why Punes Shivsrushti Matters
Lokesh Agrawal
Benefits of Hiring a Professional Content Marketing Agency
Benefits of Hiring a Professional Content Marketing Agency
Substrate Media
ANewswire vs Marketwired_ Which Platform Serves Tech Startups Better
ANewswire vs Marketwired_ Which Platform Serves Tech Startups Better
https://anewswire.com/
SWOCC 30 jaar 11 juni - presentatie Fons
SWOCC 30 jaar 11 juni - presentatie Fons
SWOCC
Turn less traffic into more revenue, Zero-click SEO
Turn less traffic into more revenue, Zero-click SEO
Anton Shulke
The Ultimate Keyword & SEO Prompt Collection.docx
The Ultimate Keyword & SEO Prompt Collection.docx
Technology
ANewswire vs 24-7 Press Release_ Which Offers Broader Syndication
ANewswire vs 24-7 Press Release_ Which Offers Broader Syndication
https://anewswire.com/
Google AI Overviews: Smarter Search Is Here
Google AI Overviews: Smarter Search Is Here
Textuar Communications LLP
ANewswire vs Presswire_ Who Offers Stronger UK Media Coverage
ANewswire vs Presswire_ Who Offers Stronger UK Media Coverage
https://anewswire.com/
Visi坦n Microsoft Fabric Data analyst for the era of AI
Visi坦n Microsoft Fabric Data analyst for the era of AI
AlbertoAguilera49
Strategic overview of Marketing Departement
Strategic overview of Marketing Departement
NabeelMalik49
TAM Sports_IPL 18_Commercial Advertising_Report.pdf
TAM Sports_IPL 18_Commercial Advertising_Report.pdf
Social Samosa
How To Create PR Content That Journalists Actually Use
How To Create PR Content That Journalists Actually Use
https://anewswire.com/
How to Write a Press Release for a Nonprofit
How to Write a Press Release for a Nonprofit
https://anewswire.com/
Bonita 2022.1 Release Campaign New Features & Marketing Assets
Bonita 2022.1 Release Campaign New Features & Marketing Assets
sohamdatta047
ANewswire vs OpenPR_ Which Is More Effective for European Reach
ANewswire vs OpenPR_ Which Is More Effective for European Reach
https://anewswire.com/
Impact of Social Media on Consumer Buying Behaviour of Personal Care Products
Impact of Social Media on Consumer Buying Behaviour of Personal Care Products
KARTIKTHANTH1
AIO Hurting Traffic? How To Identify True Loss With GA4, GSC & Rank Tracking
AIO Hurting Traffic? How To Identify True Loss With GA4, GSC & Rank Tracking
Search Engine Journal
Boost Your Communication with DIGINTRA'S Bulk SMS Service
Boost Your Communication with DIGINTRA'S Bulk SMS Service
DIGINTRA Teleservices
TRESemme Objective, Source of Growth, Target Audience.pdf
TRESemme Objective, Source of Growth, Target Audience.pdf
giselladarfian
Why Punes Shivsrushti Matters
Why Punes Shivsrushti Matters
Lokesh Agrawal
Benefits of Hiring a Professional Content Marketing Agency
Benefits of Hiring a Professional Content Marketing Agency
Substrate Media
ANewswire vs Marketwired_ Which Platform Serves Tech Startups Better
ANewswire vs Marketwired_ Which Platform Serves Tech Startups Better
https://anewswire.com/
SWOCC 30 jaar 11 juni - presentatie Fons
SWOCC 30 jaar 11 juni - presentatie Fons
SWOCC
Turn less traffic into more revenue, Zero-click SEO
Turn less traffic into more revenue, Zero-click SEO
Anton Shulke
The Ultimate Keyword & SEO Prompt Collection.docx
The Ultimate Keyword & SEO Prompt Collection.docx
Technology
ANewswire vs 24-7 Press Release_ Which Offers Broader Syndication
ANewswire vs 24-7 Press Release_ Which Offers Broader Syndication
https://anewswire.com/
Google AI Overviews: Smarter Search Is Here
Google AI Overviews: Smarter Search Is Here
Textuar Communications LLP
ANewswire vs Presswire_ Who Offers Stronger UK Media Coverage
ANewswire vs Presswire_ Who Offers Stronger UK Media Coverage
https://anewswire.com/
Visi坦n Microsoft Fabric Data analyst for the era of AI
Visi坦n Microsoft Fabric Data analyst for the era of AI
AlbertoAguilera49
Strategic overview of Marketing Departement
Strategic overview of Marketing Departement
NabeelMalik49
TAM Sports_IPL 18_Commercial Advertising_Report.pdf
TAM Sports_IPL 18_Commercial Advertising_Report.pdf
Social Samosa
How To Create PR Content That Journalists Actually Use
How To Create PR Content That Journalists Actually Use
https://anewswire.com/
How to Write a Press Release for a Nonprofit
How to Write a Press Release for a Nonprofit
https://anewswire.com/
Ad

Introduction to marketing management for BSAM

  • 2. After this session, Students will be able to learn What is Marketing Understanding the marketplace Why Marketing Some fundamental concepts of marketing Scope of Marketing What are the different domains of Marketing The transition of Marketing in 21st Century Session Objectives
  • 3. Consumers Problems Needs Needs are the states of felt deprivation e.g. thirst (water), Hunger (food) etc Wants Wants are the alternatives to satisfy the needs Preferences The criterion of priority for one product on the other Demand Wants backed by buying power, or willingness to buy and ability to buy
  • 4. Value The ability of a product to satisfy a need effectively for which it is developed Customers form expectations regarding value Marketers must deliver value to consumers Customer perceived value: The difference between total customer value and total customer cost Customer Life Time Value: The value of the customers entire stream of purchases over a lifetime of support Share of customer: The portion of the customers purchasing that a company gets in its product categories Customer Equity: The total combined customer lifetime values of all of the companys customers
  • 5. Sharing Value with Customers Customer relationship management (CRM) The overall process of building and maintaining profitable customer relationships by delivering superior customer values and satisfaction. Customer Satisfaction The extent to which a products perceived performance matches a buyers expectation. Customer Dissatisfaction The extent to which a products perceived performance recedes a buyers expectation Customer Delight The extent to which a products perceived performance exceeds a buyers expectation
  • 6. Value Delivery Process Exchange Process by which one or more parties give something of value to each other to satisfy perceived needs Transaction A physical/actual trade of values between two or more parties Monetary Trade Barter Trade Transfer A one way trade in which one party gives something to another and takes nothing in exchange e.g. gifts, charities
  • 8. Producer /Seller Communication Product/Service Money Feedback Consumer Marketing The process of developing and maintaining profitable customer relationship.
  • 9. a. Customer Needs, Wants, and Demands b. Market Offerings (Products and Services) c. Value and Satisfaction d. Exchanges and Relationships e. Markets 1. Understanding the Marketplace and Customer Needs
  • 10. 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 Short sightedness by business firms causing management to define their business too narrowly) b. Market Offerings (products and services)
  • 11. a. Customer Needs, Wants and Demands Customer Needs, Wants, and Demands Need State of felt deprivation Wants The form human needs take as shaped by culture and individual personality. Demands Wants which are backed by buying power
  • 12. Product A market offering (tangible or intangible) that can be offered in a market for attention, acquisition, use, or consumption that might satisfy a need or a want valuably. Produce Experience Idea Property Intellectual Property Services Any benefit or activity that one party can offer to another, that is essentially intangible and do not occur in transfer of ownership Product Support Services A market offering that is the combination of both Product as well as Services
  • 13. c. Value and Satisfaction
  • 14. Exchange is the act of obtaining a desired object from someone by offering something in return d. Exchanges and Relationships
  • 15. Markets are the set of actual and potential buyers of a product e. Markets
  • 16. 2. Designing a Customer-Driven Marketing Strategy
  • 17. 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?
  • 18. How to Design Winning Marketing Strategy Market segmentation refers to dividing the markets into segments of customers Target marketing refers to which segments to go after Demarketing is marketing to reduce demand temporarily or permanently; the aim is not to destroy demand but to reduce or shift it.
  • 20. Production Concept is the idea that consumers will favor products that are available or highly affordable 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. Selling Concept is the idea that consumers will not buy enough of the firms products unless it undertakes a large scale selling and promotion effort 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 Societal : concept is the idea that a company should make good marketing decisions by considering consumers wants, the companys requirements, consumers long-term interests, and societys long- run interests
  • 21. 3. 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.
  • 23. Customer Relationship Management (CRM) The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction 4. Building Customer Relationships
  • 24. Relationship Building Blocks: Customer Value and Satisfaction
  • 25. 5. 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.
  • 26. Growing Share of Customer Share of customer is the portion of the customers purchasing that a company gets in its product categories. Customer Equity is the total combined customer lifetime values of all of the companys customers.
  • 27. 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
  • 28. Building the Right Relationships with the Right Customers High Profitability Low Long-term customers Short-term customers Strangers Little fit between companys offerings and customers needs; lowest profit potential Butterflies Good fit between companys offerings and customers needs; high profit potential True Friends Good fit between companys offerings and customers needs; highest profit potential Barnacles Limited fit between companys offerings and customers needs; low profit potential Projected Loyalty