MARKETING MARKETING Today, Marketing must be understood not in the Today, Marketing must be understood not in the old sense of marking a sale – “telling and old sense of marking a sale – “telling and selling” but in the new sense of satisfying selling” but in the new sense of satisfying customer needs. customer needs. A social and managerial process by which A social and managerial process by which individuals and groups obtain what they need individuals and groups obtain what they need and want through creating and exchanging and want through creating and exchanging products and value with others. products and value with others.
Transcript
MARKETINGMARKETING
Today, Marketing must be understood not in the Today, Marketing must be understood not in the old sense of marking a sale – “telling and old sense of marking a sale – “telling and selling” but in the new sense of satisfying selling” but in the new sense of satisfying customer needs.customer needs.
A social and managerial process by which A social and managerial process by which
individuals and groups obtain what they need individuals and groups obtain what they need and want through creating and exchanging and want through creating and exchanging products and value with others. products and value with others.
NEED NEED A state of felt deprivation. A state of felt deprivation.
WANT WANT The form taken by a human need as shaped by culture The form taken by a human need as shaped by culture
and individual personality. and individual personality.
DEMAND DEMAND Human wants that are backed by buying power. Human wants that are backed by buying power.
PRODUCT PRODUCT
Anything that can be offered to a market for attention, Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a acquisition, use, or consumption that might satisfy a want or need. It includes physical objects, services, want or need. It includes physical objects, services, persons, places, organizations, and ideas. persons, places, organizations, and ideas.
SERVICE SERVICE
Any activity or benefit that one party can offer to another Any activity or benefit that one party can offer to another that is essentially intangible and does not result in the that is essentially intangible and does not result in the ownership of anything. ownership of anything.
CUSTOMER VALUE CUSTOMER VALUE
The difference between the values the customer gains The difference between the values the customer gains from owning and using a product and the costs of from owning and using a product and the costs of obtaining the product. obtaining the product.
CUSTOMER SATISFACTIONCUSTOMER SATISFACTION
The extent to which a products perceived performance The extent to which a products perceived performance matches a buyer’s expectation. matches a buyer’s expectation.
TOTAL QUALITY MANAGEMENT (TQM)TOTAL QUALITY MANAGEMENT (TQM)
Programs designed to constantly improve the quality of Programs designed to constantly improve the quality of products, services, and marketing processes. products, services, and marketing processes.
PRODUCTION CONCEPT PRODUCTION CONCEPT The philosophy that consumers will favor products that are available The philosophy that consumers will favor products that are available
and highly affordable and that management should therefore focus and highly affordable and that management should therefore focus on improving production and distribution efficiency. on improving production and distribution efficiency.
PRODUCT CONCEPT PRODUCT CONCEPT The idea that consumer swill favor products that offer the most The idea that consumer swill favor products that offer the most
quality, performance, and feature and that the organization should quality, performance, and feature and that the organization should therefore devote its energy to making continuous product therefore devote its energy to making continuous product improvement. improvement.
SELLING CONCEPT SELLING CONCEPT The idea that consumers will not buy enough of the organization The idea that consumers will not buy enough of the organization
products unless the organization undertakes a large scale selling products unless the organization undertakes a large scale selling and promotion effort. and promotion effort.
MARKETING CONCEPT MARKETING CONCEPT The marketing management philosophy that holds that achieving The marketing management philosophy that holds that achieving
organizational goals depends on determining the needs and wants organizational goals depends on determining the needs and wants of target markets and delivering the desired satisfactions more of target markets and delivering the desired satisfactions more effectively and efficiently than do competitors. effectively and efficiently than do competitors.
WHAT IS A CUSTOMERWHAT IS A CUSTOMER What is a customer a customer is the most What is a customer a customer is the most
important person ever in this company in person important person ever in this company in person or by mail. A customer is not dependent on us, or by mail. A customer is not dependent on us, we are dependent on him. A customer is not an we are dependent on him. A customer is not an interruption of our work, he is the purpose of it. interruption of our work, he is the purpose of it. We are not doing a favor by serving him, he is We are not doing a favor by serving him, he is doing us a favor by giving us the opportunity to doing us a favor by giving us the opportunity to do so. A customer is not someone to argue or do so. A customer is not someone to argue or match wits with nobody ever won an argument match wits with nobody ever won an argument with a customer. A customer is person who with a customer. A customer is person who brings us his wants it is our job to handle them brings us his wants it is our job to handle them profitable to him and to ourselves. profitable to him and to ourselves.
MARKET SEGMENTATION MARKET SEGMENTATION
•MASS MARKETINGMASS MARKETING (No Segmentation One product for whole market)(No Segmentation One product for whole market)Mass marketing Mass producing, mass distributing and mass promoting Mass marketing Mass producing, mass distributing and mass promoting about the same product in about the same way to all consumers,about the same product in about the same way to all consumers,
SEGMENT MARKETING SEGMENT MARKETING
Isolating broad segments that make up a market and adapting the Isolating broad segments that make up a market and adapting the marketing to match the needs of one or more segments. marketing to match the needs of one or more segments.
NICHE MARKETING NICHE MARKETING
Focusing on sub segments or niches with distinctive traits that may seek Focusing on sub segments or niches with distinctive traits that may seek a special combination of benefits. a special combination of benefits.
MICRO MARKETING MICRO MARKETING The practice of tailoring products and marketing programs to suit the The practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations includes local marketing and tastes of specific individuals and locations includes local marketing and individual marketing. individual marketing.
