Lecture Business: A changing world - Chapter 12: Customer-driven marketing

After reading this chapter, you will be able to: Define marketing and describe the exchange process; specify the functions of marketing; explain the marketing concept and its implications for developing marketing strategies; examine the development of a marketing strategy, including market segmentation and marketing mix;...

The Exchange Process: Giving Up  One Thing in Return for Another

Something of Value (money,

credit, labour,     goods)

Something of Value

(goods, services, ideas)

SellerBuyer

©  2003 McGraw­Hill Ryerson Limited

The Breakdown of the  Marketing Concept

12-4a

The Breakdown of the  Marketing Concept

12-4b

marketing efforts

12-5

Canada’s oldest citizens  ­ the generation of great hope 

­ desire products that reward them for hard  work

Baby   boomers ­ the generation born in great economic 

prosperity

­ desire products that save time or simplify  living

Gen Xers ­ desire products that fit with the image of 

(born between 1966­1980) self they are creating

Generation   Y ­ the most privileged generation

­ desire products that are high­tech and  authentic and nontraditional shopping venues

12-6

©  2003 McGraw­Hill Ryerson Limited

Marketing to Different  Generations (or target markets)

Marketing Strategy 2

Single Marketing Strategy Company

Concentration Approach

Single Target Market

• Social variables

– social roles – reference groups – social classes – culture

12-11

One­arm packs/hipsacks Backpacks

Krav Maga Pilates Lowriders Motorcycles

Anatomical wrap soles Platforms Scalp jewels Glitter Manic Street Preachers/Air The Verve Ostrich burgers Turkey burgers Floating necklaces Silver spring bracelets

12-12

Arrivals Departures

Age of head of household:

Competitive and Economic Forces

Technological Forces

Political, Legal, and Regulatory

Forces

Marketing Environment

Married, with spouse

Forces

(bluefly.com Online Outlet)

12-16

How will a career in marketing be  enhanced by knowledge about customer  buying behaviour and customer service?

12-18

©  2003 McGraw­Hill Ryerson Limited

Additional Discussion  Questions and Exercises

a price

b buyer or customer

c product

d promotion