Khoanhd chapter01 introduction to marketing

Topic Outline Definition of Marketing • Understand the Marketplace and Customer Needs • Designing a Customer-Driven Marketing Strategy • Preparing an Integrated Marketing Plan and Progra

Defining Marketing for the New Realities

ON THE BALCONY

Lectured by Khoa Nguyen

Topic

Outline

Definition of Marketing

• Understand the Marketplace and Customer Needs

• Designing a Customer-Driven Marketing Strategy

• Preparing an Integrated Marketing Plan and Program

• Building Customer Relationships

• Capturing Value from Customers

Marketing Process

3 The changing Marketing Landscape

I Definition of

Marketing

Marketing is

• The process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchange and satisfy individual and organizational objectives (AMA, 1985)

• The management process responsible for identifying, anticipating, and

satisfying customer requirements profitably (CIM, 2001)

• The process by which companies create value for customers and build

strong customer relationships in order to capture value from customers in

return (Kotler & Amstrong, 2013)

• Examples of which and how organizations create value for customers and

build strong customer relationships

• Whether has the marketing definition been changed in the era of 4.0?

Critical thinking

questions

1 Is it possible to say marketing is an effort that make the selling unnecessary?

Critical thinking questions

2 Do non-profit

organizations perform

marketing?

II Marketing

Process

A real-life marketing process

Understand the marketplace

and customer Needs

individual personality

Want Need

•How to understand customers’ needs,

wants, and demands?

•Do marketing offerings only include products?

GOODS PAYMENT Marketer Customer

Exchange

Marketing is also about

Market

Designing a Customer-Driven

Marketing Strategy

Customer driven marketing Strategy

MARKETING MANAGEMENT

SELECTING CUSTOMERS

CHOOSE VALUE PROPOSITION

Marketing management

Selecting customers

Segmentation

Targeting

proposition

PRODUCTION

CONCEPT

The development of marketing through time

PRODUCT CONCEPT SELLING CONCEPT MARKETING CONCEPT SOCIETAL MARKETING

CONCEPT

Product Concept

Consumers will favor products

that offer the most in quality,

performance, and innovative

Consumers will not buy

enough without a large scale

selling and promotion effort

Selling Concept

Problem: Too much focus

only on transactional

relationship

Marketing Concept

A quick question:

Should the company stop all advertising and marketing

activities during Covid-19 period?

Answer?

Preparing an Integrated Marketing Plan and Program

Preparing an Integrated Marketing Plan

and Program

The marketing mix: set of tools (4Ps or 8Ps) the

firm uses to implement its marketing strategy It includes product, price, promotion, and place.

Integrated marketing program: comprehensive

plan that communicates and delivers the intended value to chosen customers.

Copyright © 2011 Pearson Education, Inc Publishing as Prentice Hall

Building customer relationships

Partner relationship management

Capturing Value from Customers

The changing marketing landscape

Digital age

Globalization

Most

revenues are outside the home

country

Ethics demands

Not-for-Profit Marketing

New marketing challenges

New marketing challenges

New marketing challenges

New marketing

challenges

Something a bit academic

So, What Is Marketing? Pulling It All Together