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Marketing Management Lecture 1 (marketing process image (Understand…
Marketing Management
Lecture 1
marketing process
Understand market and costumer needs
design costumer-driven marketing strategy
Construct marketing program that delivers superior value
Build profitable relationships
Capture value from costumers and create profits and costumer equity
future of marketing
landscape
3.)Globalisation pressures every
company
4.)CSR issues are upcoming
2.)Information revolution:
information scarcity to overload
1.)every organization is involved
into marketing nowadays (universiry etc.)
Customer lifetime value
entire stream of purchase
a customer would make during his lifetime
Understanding a costumer
Needs
Physical (food, clothing)
Social (belonging, attention)
Individual (Selfexpression...)
Wants
Needs that are shaped by culture and personality
Demands
Wants backed by buying power
CRM
(Customer relationship management)
process of building and
maintaining profitable relationships
What is marketed?
Market offerings
goods, services etc. offered to a market to satisfy a need or want
Marketing myopia
Trying to satisfy existing wants while losing sights on needs
Orientation:
Product Orientation
based on the products the
customer will buy at the end
Market Orientation
based on the experiences the company can
deliver for the world/ potentialcustomers
Marketing orientations
Social Marketing concept
marketing decisions based on
consumers wants, companys requirements,
consumers long time interests and
societys long run interests
Selling
concept
will not buy enough of the firm’s products unless it undertakes a large-scale selling and promotion effort.
.
marketing
concept
on knowing the needs and wants of target markets and delivering the desired satisfaction
Product
Concept
will favour products that offer the most quality, performance and features
Production
Concept
will favour products that are available and highly affordable
Market
