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

Chapter 1

• Marketing in a Changing World: Creating Customer Value and Satisfaction

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

Kataloq: course
course -> Dejavu: An accurate Energy-Efficient Outdoor Localization System sigspatial '13
course -> Paranoyak olman, peşinde olmakdıkları anlamına gelmez
course -> Ultrasonografide kullanilan ses dalgalarinin özellikleri
course -> Jerry M. Burger
course -> Where does the interest early 20C writers have in consciousness come from
course -> The Humanistic approach has emerged in the late 1960’s, primarily as a reaction to the two major views of humanity popular at that time
course -> Degeneration vs. Progeneration Science and Pseudoscience
course -> Assemblers
course -> Using the assembler