Marketing chapter 1a creating customer relationships

Define marketing and identify the requirements for marketing to occur.LEARNING OBJECTIVES LO AFTER READING CHAPTER 1, YOU SHOULD BE ABLE TO:... LO4 LO5 LEARNING OBJECTIVES LO AFTER READI

Define marketing and identify the requirements for marketing to occur.

LEARNING OBJECTIVES (LO)

AFTER READING CHAPTER 1, YOU SHOULD BE ABLE TO:

Explain how organizations build strong customer relationships and customer value through marketing.

Describe how today’s customer relationship era differs from prior eras oriented to production and selling.

LO4

LO5

LEARNING OBJECTIVES (LO)

AFTER READING CHAPTER 1, YOU SHOULD BE ABLE TO:

Explain how marketing creates utilities for consumers.

LO6

• Some Involved in Selling Decisions

 Marketing Seeks to:

 Marketing : the activity for creating, communicating, delivering, and

exchanging offerings that benefit the organization, its stakeholders and

FIGURE 1-2 A marketing department relates

to many people, organizations, and

environmental forces

 Parties with Unsatisfied Needs

WHAT IS MARKETING?

REQUIREMENTS FOR IT TO OCCUR

LO1

 A Desire and Ability to be Satisfied

 A Way for the Parties to Communicate

 Something to Exchange

HOW MARKETING DISCOVERS CONSUMER NEEDS

THE CHALLENGE: NEW PRODUCTS

LO2

 Consumers May Not Know or Cannot

Describe What They Need or Want

 Most New Products Fail

• “Focus on the Consumer Benefit”

• “Learn From the Past”

 The Challenge:

 Need

 Want

 Does Marketing Persuade People to

Buy the “Wrong” Things?

 Market

HOW MARKETING DISCOVERS CONSUMER NEEDS

NEEDS VS WANTS

LO2

HOW MARKETING SATISFIES

FIGURE 1-3 Marketing seeks to discover

then satisfy consumer needs through

research and a marketing program

HOW MARKETING SATISFIES

3M PRODUCT & MARKETING PROGRAM

HELPING STUDENTS STUDY

FIGURE 1-4 Marketing programs for two

new 3M Post-it ® brand products targeted at

two distinct customer segments: college

students and office workers

HOW MARKETING BECAME IMPORTANT

EVOLUTION OF THE MARKET ORIENTATION

LO5

 Production Era

 Sales Era

 Marketing Concept Era

 Customer Relationship Era

• Market Orientation

• Customer Relationship Management (CRM)

• Customer Experience

FIGURE 1-5 Four different market

orientations in the history of American

business

HOW MARKETING BECAME IMPORTANT

ETHICS AND SOCIAL RESPONSIBILITY

LO5

 Ethics

 Social Responsibility

HOW MARKETING BECAME IMPORTANT

BREADTH AND DEPTH OF MARKETING

HOW MARKETING BECAME IMPORTANT

BREADTH AND DEPTH OF MARKETING