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Transcript of © Prentice Hall, 2005Excellence in Business, Revised Edition Chapter 12 - 1 Fundamentals of...
![Page 1: © Prentice Hall, 2005Excellence in Business, Revised Edition Chapter 12 - 1 Fundamentals of Marketing, Customers, and Strategic Marketing Planning.](https://reader036.fdocuments.us/reader036/viewer/2022070403/56649f295503460f94c43225/html5/thumbnails/1.jpg)
© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 12 - 1
Fundamentals of Fundamentals of Marketing, Customers, Marketing, Customers,
and Strategic and Strategic Marketing PlanningMarketing Planning
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© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 12 - 2
Marketing in a Changing Marketing in a Changing WorldWorld
• Planning
• New product
• Execution
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© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 12 - 3
What is Marketing?What is Marketing?
• Conception
• Pricing
• Promotion
• Distribution
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© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 12 - 4
Core Marketing ConceptsCore Marketing Concepts
• Needs, wants, and demands
• Products and services
• Value, satisfaction, and quality
• Exchanges, transactions, relationships
• Markets
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© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 12 - 5
Types of MarketingTypes of Marketing
• Product marketing
• Place marketing
• Cause-related marketing
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© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 12 - 6
The Four UtilitiesThe Four Utilities
• Form
• Time
• Place
• Possession
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© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 12 - 7
Fundamental ConceptsFundamental Concepts
• Product
• Selling
• Marketing
• Relationship
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© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 12 - 8
Buyers and the InternetBuyers and the Internet
• Transactions
• Competition
• Research
• Interaction
• Choices
• Delivery
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© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 12 - 9
Sellers and the InternetSellers and the Internet
• Marketing and product research
• Sales and distribution
• Customer support and feedback
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© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 12 - 10
Today’s CustomersToday’s Customers
• Sophisticated
• Price sensitive
• Demanding
• Informed
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© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 12 - 11
Customer SatisfactionCustomer Satisfaction
• Getting them costs more than keeping them.
• Long-term customers boost profits.
• Satisfied customers tell their friends.
• Customers will pay more for good service.
• Unhappy customers spread the word.
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© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 12 - 12
Beyond Customer Beyond Customer SatisfactionSatisfaction
• Increase market share
• Boost profitability
• Maximize shareholder value
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© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 12 - 13
Learning About Learning About CustomersCustomers
• Buying behavior
• Marketing research
• Database marketing
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© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 12 - 14
Consumer Buying Consumer Buying BehaviorBehavior
• Organizational markets
• Consumer markets
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© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 12 - 15
The Buyer’s Decision The Buyer’s Decision ProcessProcess
• Need recognition
• Information search
• Evaluation of alternatives
• Purchase
• Postpurchase evaluation
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© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 12 - 16
Factors That Influence Factors That Influence the Buyer’s Decision the Buyer’s Decision
ProcessProcess• Culture
• Social class
• Reference groups
• Self-image
• Situational factors
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© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 12 - 17
Marketing ResearchMarketing Research
• Set product goals
• Develop new products
• Plan marketing programs
• Analyze product usage patterns
• Track competition and trends
• Measure customer satisfaction
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© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 12 - 18
Marketing Research Marketing Research MethodsMethods
• Observations
• Surveys and Questionnaires
• Experiments
• Interviews
• Small samples
• Focus groups
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© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 12 - 19
Database MarketingDatabase Marketing
• Customers
–Preferences
– Interactions
–Behaviors
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© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 12 - 20
One-to-One MarketingOne-to-One Marketing
• Identification
• Differentiation
• Interaction
• Customization
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© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 12 - 21
Planning Marketing Planning Marketing StrategiesStrategies
• Examine current marketing situation
• Assess opportunities and set objectives
• Develop marketing strategies
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© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 12 - 22
Examine the Current Examine the Current Marketing SituationMarketing Situation
• Reviewing performance
• Evaluating competition
• Examining strengths and weaknesses
• Analyzing the external environment
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© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 12 - 23
Assess Opportunities Assess Opportunities and Set Objectivesand Set Objectives
• Market penetration
• New product development
• Geographic expansion
• Diversification
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© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 12 - 24
Develop the Marketing Develop the Marketing StrategyStrategy
• Segments and niches
• Target markets
• Market position
• Marketing mix
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© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 12 - 25
Segmenting MarketsSegmenting Markets
• Demographics
• Geographics
• Psychographics
• Geodemographics
• Behavior
• Internet usage
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© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 12 - 26
Target Market StrategiesTarget Market Strategies
• Undifferentiated
• Differentiated
• Concentrated
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© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 12 - 27
Positioning the ProductPositioning the Product
• Features
• Services
• Image
• Category leadership
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© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 12 - 28
Developing the Marketing Developing the Marketing MixMix
• Target market
–Product
–Price
–Place
–Promotion