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Nickels McHugh McHugh

Nickels Cover. Nickels McHugh McHugh. Chapter. Marketing: Building Customer and Stakeholder Relationships. 13. 13- 2. Evolution of Marketing. Production Era - Up to early 1900s Selling Era - 1920s-1950s Marketing Era - 1950s+ Customer Service Profit.

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Nickels McHugh McHugh

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  1. Nickels Cover Nickels McHugh McHugh

  2. Chapter Marketing: Building Customer and Stakeholder Relationships 13 13-2

  3. Evolution of Marketing • Production Era - Up to early 1900s • Selling Era - 1920s-1950s • Marketing Era - 1950s+ • Customer • Service • Profit

  4. Industries ProvidingBest Service Source: USA Today, “Snapshots”

  5. Find a productive board of trustees (Directors) Make marketing the focus; not short-term sales Know your mission and review mission strategy regularly Practice strategic planning Carefully segment target market Train & develop volunteers for long-term Be frugal- know how to manage finances Marketing Strategies inNon-Profit Organizations

  6. Elements in theMarketing Mix Place Product Computer 'R Us Marketing Program Buy at Computers ‘R Us Promotion Price

  7. Product Design • Concept Test • Prototype • Test Market • Outsource • Package Design/Brand Name

  8. Where They Got Their Names Founder(s) • Taco Bell Glen Bell • Days Inn Cecil Day • Bose Corp Amar Bose • Ty Inc. Ty Warner • Bristol-Myers William Bristol & John Myers • Source: World Features Syndicate

  9. GrowingE-Commerce Categories Source: USA Today, “Snapshots”

  10. Uses ofMarket Research • Analyze Customer Needs/Satisfaction • Analyze Markets & Opportunities • Analyze Effectiveness of Strategy/Tactics • Analyze Goal Achievement

  11. Guidelines forMarket Research • Clarify research objectives/stay on target. • Decide whether you will do the research or use a professional researcher. • Make certain questions are directed to objectives. • Ask for relevant information.

  12. Market Research Process • Define • Collect • Analyze • Choose

  13. Secondary Data Company Records Gov’t Agencies Trade Associations Research Companies Primary Data Specific to Project Surveys Observations Sources for Marketing Research Information

  14. The Marketing Environment Economic Technology Competitive Customer Social Global

  15. Different Markets • Consumer • Niche • One-to-One • Business-to-Business (B2B)

  16. What is Marketing? Target Market Market Needs Satisfy Needs

  17. Target Marketing Geographic Demographic Psychographic Benefit Volume Market Segmentation

  18. U.S. Buying Power* In Million $ *Excludes senior citizens, as not all sources characterize them as a diversity market

  19. Urban AdultSpending Habits Source: Simmons Market Research

  20. Consumer Decision Making • Sociocultural • Reference groups • Family • Social class • Culture • Subculture • Marketing mix • Product • Price • Place • Promotion • Decision-Making Process • Problem Recognition • Information Search • Alternative evaluation • Purchase decision • Postpurchase evaluation (cognitive dissonance) • Situational • Type of Purchase • Social surroundings • Physical surroundings • Previous experience • Psychological • Perception • Attitudes • Learning • Motivation

  21. Influences onConsumer Behavior Reference Group Culture Learning Customer Cognitive Dissonance Subculture

  22. Buying Process Step 1: Recognize Problem Step 2: Information Search Step 3: Evaluate Alternatives Step 4: Make Purchase Decision Step 5: Postpurchase Evaluation

  23. Number Size Geographic Concentration Rational Direct Sales Personal Selling Business-to-Business (B2B)

  24. Marketing Process Need Design Research Name/Package/ Price Test Build Relationship Promote Distribution

  25. Updated Marketing Concept • Customer > Delight Stakeholders • Organizational Service > Uniting Organizations • Maintain Profit Orientation • Establish Relationships • Customer • Stakeholder

  26. Identify your best customers. Build lasting relationships. Share your customers with other businesses by developing strategic alliances. Practice integrated marketing. Know what makes your customers happy. Personally thank your customers for support. Stand out above the competition. Successful Marketingin Small Organizations

  27. ABCs of Marketing Always be customer-driven. Benchmark against the best in the world. Continuously improve product/performance. Develop the best value package. Empower your employees. Focus on relationships. Generate profit/meet other org. objectives. Source: Nickels & Wood, Marketing, Worth Publishing, 1997

  28. Stakeholder Marketing • Shareholder • Green Products • Customer Relationship Management • 80/20 Rule • Software

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