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An Overview of Marketing: Core Concepts, Strategies, and Customer Focus

Explore the fundamental concepts of marketing, customer values, and the evolving strategies in the field. Understand customer behaviors, values, and the importance of market-led approaches. Learn about strategy development, market segmentation, and the significance of customer profiles in decision-making processes.

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An Overview of Marketing: Core Concepts, Strategies, and Customer Focus

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  1. Introduction to Marketing Review

  2. IDEAS ABOUT MARKETING An Activity A Function A Management Process An Orientation A Social Philosophy

  3. MARKETING APPROACH A recognition by the organisation of the primacy of customer values in exchange... ...and the focusing of the whole organisation and all its activities on mutually satisfying exchanges with customers

  4. CORE CONCEPTS EXCHANGE VALUE THE TRANSACTION THE RELATIONSHIP (1990’s)

  5. THE EXCHANGE PROCESS UNDERSTANDING - customer values and behaviours CREATING - customer related values COMMUNICATING - to inform and persuade DELIVERING

  6. THE MARKETING CYCLE Deliver Communicate Organisation Customer Create Understand

  7. CUSTOMER VALUES FUNCTIONAL: - “buying things for what they do” SYMBOLIC: - “buying things for what they mean” EXPERIENTIAL: - value from the exchange process

  8. MARKET-LED, CUSTOMER DRIVEN Characterised by: * CUSTOMER FOCUS * LONG TERM VIEW * ADEQUATE INFORMATION * INTEGRATED ACTIVITIES * OPERATIONAL EFFICIENCY (Kotler)

  9. BROADENING APPLICATIONS 1990’s Social Marketing Not for Profit Services marketing Business to Business Consumer Durables FMCG’s 1950’s

  10. Basic Decisions Business Customers ? Who is the Customer? What will we achieve How will we use or resources?

  11. Strategy as Matching MARKETS - All the total collection of potential customers in a category of market PRODUCTS - All the activities and resources of the business that impact the market place

  12. Types of Strategy Mass Marketing Market Segmentation Scale of Customer Focus Target (Niche) Marketing Maxi- Marketing

  13. General Strategy Types

  14. Ansoff Matrix 現有產品 新產品 現有市場 新市場

  15. Understanding Customers

  16. All Marketing decisions are designed on the basis of Customer Focus

  17. Need to Understand • Who the Customer is / will be • Customer Values • Customer Behaviours

  18. Who the Customer is / will be Need to be able to describe customers / potential customers Commonly use characteristics such as: • Demographics • Geographics • Psychographics

  19. Customer Values • Functional • Symbolic • Transactional

  20. Functional Values Customers buy things for what they do

  21. Symbolic Values Customers buy things for what they mean

  22. Transaction Values Customers get values from the experience of exchange

  23. Consumer behaviour can be defined as the decision-making process and physical activity involved in: • acquiring, • evaluating, • using • and disposing of • goods and services

  24. Customer Profile A basic technique which brings together Consumer Behaviour data as a basis for decision-making

  25. Customer Profiles • Core information on: • Characteristics • Values • Behaviours • Form the basis for defining target customers and segments

  26. Typical Customer Profile includes: • Who • How • Where • When • Why

  27. Basic Framework Motivation Perception Search Evaluation Choice Learning

  28. Influences on Buyer

  29. Decision levels in organisations Business direction Market decisions Investment decisions New product development Positioning Strategic Marketing mix decisions Operational Customer service levels Competitive responses Campaigns Tactical

  30. Typical applications for marketing research Market analysis New product/service development Selection of brand names and packaging Pricing decisions Advertising and promotion decisions Sales decisions Service support and complaint handling decisions

  31. Typical data requirements:Product research Long range economic studies Satisfaction levels and trends with current products Gap between current products & perception New products Consumer research Competitor research Research from international markets Source: Hines

  32. Typical data requirements:Pricing decisions Competitor product prices Consumer attitudes to price what would they expect to pay? what would they be prepared to pay Cost/price/volume - what quantities are likely to sell at different price levels?

  33. Typical data requirements:Advertising and promotion Size of potential market Demographic characteristics of users Demographic profiles of segments Behaviours and attitudes of different segments Language used by customers in talking about product Share of mind compared with competitors

  34. Typical data requirements:Sales decisions Sales territories Sales personnel efficiency Sales statistics Sales forecasts Sales incentives Distributor policy

  35. Primary objective of researcher is to provide: Timely Accurate Relevant Data and analysis to Marketing Management Key word is ‘Robust”

  36. (MARKETECK, 2009)

  37. OBSERVATION The systematic process of witnessing and recording behaviour – of people, objects and events

  38. Focus Group • An interview conducted by a trained moderator • in a non-structured and natural manner with a • small group of respondents. • Group size 8 -12 • Group composition Homogenous, respondents prescreened • Physical setting Relaxed, informal setting • Time duration 1 - 3 hours • Recording Use of audio and video cassettes • Moderator Observational, interpersonal, good communication skills needed.

  39. Other Qualitative Techniques Depth Interview:An unstructured interview that seeks opinions of respondents on a one-to-one basis. Useful for sensitive issues, politics etc. Protocol Analysis:Involves placing a person in a decision making situation and asking him/her to state everything he/she considers in making a decision. Useful in 1. Purchasing involving a long time frame (car, house) and 2. Where the decision process is too short (greeting card). Projective technique:Involve situations in which participants are placed in simulated activities hoping that they will divulge information about themselves that are unlikely to be revealed under direct questing.

  40. Experiments Investigate and evaluate causal relationships between variables Differs from other methods in the degree of control

  41. Experiments in Marketing include: • Test Marketing • Blind testing • Extended User Testing • Pilot Trials

  42. Questionnaires

  43. Major Decisions • What to ask • How questions are phrased • Sequence of questions • Layout • Pretesting

  44. SAMPLING

  45. Probability Sampling Methods Probability or random sampling gives all members of the population a known chance of being selected for inclusion in the sample and this does not depend upon previous events in the selection process. The selection of individuals does not affect the chance of anyone else in the population being selected.Many statistical techniques assume that a sample was selected on a random basis

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