Chapter 1 Marketing in a Changing World: Creating Customer Value and Satisfaction



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tarix14.12.2017
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Chapter 1


What is Marketing?

  • Process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.

  • More simply: Marketing is the delivery of customer satisfaction at a profit.



Core Marketing Concepts



What Motivates a Consumer to Take Action?

  • Needs - state of felt deprivation for basic items such as food and clothing and complex needs such as for belonging. i.e. I am thirsty

  • Wants - form that a human need takes as shaped by culture and individual personality. i.e. I want a Coca-Cola.

  • Demands - human wants backed by buying power. i.e. I have money to buy a Coca-Cola.



What Will Satisfy Consumer’s Needs and Wants?

  • Products - anything that can be offered to a market for attention, acquisition, use or consumption and that might satisfy a need or want.

  • Examples: persons, places, organizations, activities, and ideas.



How Do Consumers Choose Choose Among Products and Services?

  • Customer Value - benefit that the customer gains from owning and using a product compared to the cost of obtaining the product.

  • Customer Satisfaction - depends on the product’s perceived performance in delivering value relative to a buyer’s expectations. Linked to Quality and Total Quality Management (TQM).



How do Consumers Obtain Products and Services?

  • Exchanges - act of obtaining a desired object from someone by offering something in return.

  • Transactions - trade of values between parties. Usually involves money and a response.

  • Relationships - building long-term relationships with consumers, distributors, dealers, and suppliers.



Who Purchases Products and Services?



Modern Marketing System



Marketing Management



Marketing Management Philosophies



Marketing & Sales Concepts Contrasted



Societal Marketing Concept



New Marketing Challenges





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