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MARKETING REVISED

MARKETING REVISED. MARKETING PROCESS (KOTLER). DEFINITIONS MARKETING PROCESS-5 STAGES UNDERSTAND MARKETING NEEDS, WANTS, DEMANDS AND MARKET PLACE DESIGN CUSTOMER DRIVEN STRATEGY INTEGRATED MARKETING PLAN TO DELIVER SUPERIOR VALUE BUILD PROFITABLE RELATIONSHIP & CREATE CUSTOMER DELIGHT

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MARKETING REVISED

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  1. MARKETING REVISED

  2. MARKETING PROCESS (KOTLER) • DEFINITIONS • MARKETING PROCESS-5 STAGES • UNDERSTAND MARKETING NEEDS, WANTS, DEMANDS AND MARKET PLACE • DESIGN CUSTOMER DRIVEN STRATEGY • INTEGRATED MARKETING PLAN TO DELIVER SUPERIOR VALUE • BUILD PROFITABLE RELATIONSHIP & CREATE CUSTOMER DELIGHT • CAPTURE VALUFROM CUSTOEMRTO CREATE PROFIT & CUSTOMER EQUITY

  3. I. UNDERSTAND MARKET PLACE • Needs, Wants, Demands • Market offerings – marketing myopia • Customer value (CPV) and satisfaction • Exchange & Relationship • Markets

  4. II. DESIGN CUSTOMER DRIVEN STRATEGY • Selecting customer to serve-market research, segmentation, target marketing • Choosing a value proposition- a set of benefits or values a company promises to deliver; differentiation, positioning • Marketing management orientation -5 marketing concepts • Production concept • Product concept • Selling concept • Marketing concept • Societal marketing concept

  5. III. INTEGRATED MARKETING PLAN • Marketing Mix – 4 Ps extendable to 7 Ps • Orient towards corresponding 4 Cs • Building customer relationship by transforming strategy into action

  6. IV. BUILD PROFITABLE RELATIONSHIP AND CUSTOMER DELIGHT • CRM- relationship building block – Customer Value (CPV) and Satisfaction- managing customer data and customer “touch points” • CPV – perceived performance v/s expectation • Loyalty • CR levels and tools – basic & enhanced (relating with more carefully selected customer) • Relating for long term • Relating directly • Partner relationship management- partners from inside company

  7. V. CAPTURE VALUE FROM CUSTOMERS AND CREATING CUSTOMER EQUITY • Creating customer loyalty & retention (CLV) • Growing shares of customers • Building customer equity- “combined discounted customer lifetime value of all the company’s current and potential customer • Right relationship with right customer- butterflies/ true friends/ strangers/ barnacles

  8. CHAPTER 2 • COMPANY AND MARKETING STRATEGY

  9. COMPANY WIDE STRATEGIC PLANNING • Defining marketing role • Process of developing and maintaining strategic fit between company’s goals and capabilities & changing marketing opportunities • Defining a marketing oriented mission • Setting objectives and goals • Designing business portfolio

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