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What’s Happening?. Marketing in Today’s World: Creating Customers for Life. Chapter ONE. Defining Marketing – Your Words!. If you were to tell a friend, “I’m taking a marketing class,” and the friend were to ask, “What’s marketing?” how would you answer? . What is Marketing?.

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What s happening

What’s Happening?

Marketing in today s world creating customers for life

Marketing in Today’s World: Creating Customers for Life

Chapter ONE

Defining marketing your words

Defining Marketing – Your Words!

  • If you were to tell a friend, “I’m taking a marketing class,” and the friend were to ask, “What’s marketing?” how would you answer?

What is marketing

What is Marketing?

  • Attracting new customers by promising and delivering superior value.

  • Building long-term relationships with customers by delivering continued customer satisfaction.

  • Creating, building and managing these relationships profitably over time.

Defining marketing

Defining Marketing,….

Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders (AMA, 2004)

Relationship marketing

Relationship Marketing

  • Marketing activities aimed to build long-term relationships with:

    a. the people (especially customers)

    b. organizations

    that contribute to the company’s success

  • The sale is the beginning of the organization’s relationship with its customers

  • Visit Exhibit 1-3, The Definition of Marketing: Three Examples (page 8)

Discussion question

Discussion Question

  • We are all consumers. Every one of us makes purchases for our own use, and we’ve been doing so for many years. As consumers, we are exposed to the marketing efforts of the companies we buy from nearly every day.

  • Think about this, and give examples of how you, as consumers encounter marketing.

What is a market

What Is a Market?

  • The set of actual and potential buyers of a product.

  • These people share a need or want that can be satisfied through exchange relationships.

  • A market includes people or groups with purchasing power who are willing to exchange their resources (money, time or something of equal value) for something else (product or service).

Segmentation and targeting

Segmentation and Targeting

  • Segmentation dividesthe market into groups of customers with varying needs and wants.

  • Targeting selectsthe right segment tonurture.

What s happening 2593501

The Marketing Mix: An Overview of the 4Ps

Controllable Variables





Environmental forces

Environmental Forces

Uncontrollable variables that affect

  • the consumer’s behaviour

  • the organization’s development of an effective marketing mix

    These variables are grouped into six categories

Environmental forces exhibit 1 5 page 15

Environmental Forces (Exhibit 1-5 (page 15)

Environmental forces1

Environmental Forces

  • Within each variable marketers identify trends

    • Example – the Canadian population is aging

  • Marketers react to the changing trends by adjusting the marketing mix

Business marketing philosophies

Business/Marketing Philosophies

  • Production Orientation:

    • Goal is to produce as much product as possible

    • Henry Ford said, “You can have any colour of car, as long as it’s black”

  • Sales Orientation:

    • Maximize sales volume

    • “Focus on Transaction”

  • Market Orientation:

    • “Establishing and Maintaining Relationships”

  • The Marketing Concept:

    • Focus and goal is on customer satisfaction, and this will lead to profit.

    • “The Foundation of a Market Orientation”

The marketing concept

The Marketing Concept is:

A philosophy that emphasizes customer orientation and coordination of marketing activities to achieve both the organization's performance objectives and the consumers value proposition.

An “outside – in” perspective

The Marketing Concept

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