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Marketing Management

Marketing Management. Adapting Marketing To The New Economy. Dr. Zafer Erdogan. Kotler on Marketing. The Internet will create new winners and bury the laggards. Major Drivers of the New Economy. Digitization and Connectivity Disintermediation and Reintermediation

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Marketing Management

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  1. Marketing Management Adapting Marketing To The New Economy Dr. Zafer Erdogan

  2. Kotler on Marketing The Internet will create new winners and bury the laggards.

  3. Major Drivers of the New Economy • Digitization and Connectivity • Disintermediation and Reintermediation • Customization and Customerization • Industry Convergence

  4. How Business Practices are Changing • From organizing by product units to organizing by customer segments • Shift focus from profitable transactions to customer lifetime value • Shift focus from financial scorecard to also focusing on the marketing scorecard • Shift focus from shareholders to stakeholders

  5. How Business Practices are Changing • Everyone does the marketing • Build brands through performance, not just advertising • Customer retention rather than customer acquisition • From none to in-depth customer satisfaction measurement • From over-promise, under-deliver to under-promise, over-deliver The Fact is the New Hybrid!

  6. How Marketing Practices are Changing: E-business • E-business • E-commerce • E-purchasing • E-marketing Some argue that ‘e’ will be dropped in time

  7. Four Major Internet Domains • B2C (Business to Customer) • B2B (Business to Business) • C2C (Consumer to Consumer) • C2B (Customer to Business)

  8. Pure Click vs. Brick and Click • Pure-Click companies • Search engines, Yahoo!, Google, Excite • Internet service providers, AOL, CompuServe • Commerce sites,Amazon, e-Toys • Transaction sites, e-bay, e*trade • Content sites, The Globe and Mail, E.Britannica • Enabler sites, hardware and software companies • Brick-and-Click companies

  9. Discussion Question Which is more important for developing an e-presence: the agility of a pure-click company, or the well defined and readily identifiable resources of a traditional brick and mortar company?

  10. How Marketing Practices are Changing: Customer Relationship Marketing • Reduce rate of customer defection • Increase longevity of customer relationship • Enhance growth potential through cross-selling and up-selling • Make low profit customers more profitable or terminate them • Focus disproportionate effort on high value customers

  11. Table 2.3: Mass Marketing vs. One-to-One Marketing

  12. Four steps for CR Marketing • Don’t go after everyone, identify prospects. • Differentiate customers by their needs and their value to the company. • Individual interaction with customers builds stronger relationships. • Customize messages, services, and products for each customer.

  13. Marketing Spotlight: Yahoo! • If "point of destination" placed Yahoo! on the Internet map, what marketing miscue causedYahoo!'s "point of departure" from the scene? Discuss. • If Yahoo! was caught in the web of overconfidence with the dot-corns in 2000, can you suggestmarketing management strategies that would help it avoid this situation in 2005 and after? Is amerger the only answer? • What changes would you suggest for Yahoo! to give their marketing strategy a longer rangemarketing perspective?

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