Chapter 1 : Managing Profitable Customer Relationships - Coggle Diagram
Chapter 1 : Managing Profitable Customer Relationships
a process by which companies create value for customers and build strong
customer relationships to capture value from customers in return
The Scope of Marketing
focus is really on satisfying customer needs.
Most people think of marketing as selling and/or advertising.
attract new customers and build relationships with current customers.
not restricted to profit-making organizations.
Non-profits (colleges, hospitals, churches)
sell at the right price
distribute at the right place
alert of competition
offers superior customer value
control an integrated marketing program that delivers superior value
build profitable relationships and create customer delight
design a customer-driven marketing strategy
capture value from customers to create profits and customer equity
understand the marketplace and customer needs
create value for customers
build customer relationships
Form that needs take as they are shaped by culture and individual personality
Physical—food, clothing, warmth, safety
Social—belonging and affection
States of deprivation
Individual—knowledge and self-expression
Wants backed by buying power
some combination of products, services, information, or experiences offered to a market to satisfy a need or want
not just limited to physical products
The mistake of paying more attention to the specific products a company offers than to the benefits and experiences derived from these products.
products attributes and existing customer wants
product benefits and experiences, and customer needs
offer superior customer value
Customer value and expectations
dissatisfied customers often switch to competitors and complain about the product to others
Satisfied customers buy again and tell others about their good experiences
value and satisfaction
set the right level of expectation
the act of obtaining a desired object from someone by offering something in return
to retain customers and grow their business with the company
by consistently delivering superior customer value.
the set of actual and potential buyers of a product
the art and science of choosing target markets and building profitable relationships with them.
What customers will we serve?
How can we best serve these customers?
dividing the markets into segments of customers
segments to go after
product benefits and values that satisfy customer needs
differentiating products from competitors
positioning the products
marketing management orientations
large scale selling and promotion effort
right customers for your product
value are the paths to sales and profit
Customer-driven marketing is about understanding customer needs and creating products and services that meet existing and latent needs
McDonald’s adapts its menu to suit Chinese tastes
the idea that a company should make good marketing decisions by considering consumers’ wants, the company’s
requirements, consumers’ long-term interests, and society’s long-run interests.
deliver value to customers in a way that maintains or improves both the consumer’s and the society’s well being.
fair & lovely
CONTRAST FOR SELLING AND MARKETING CONCEPT
profits through customer satisfaction
selling & promoting
profits through sales volume
Customer Relationship Management (CRM)
delivering superior customer value and satisfaction
Managing customer “touch points”
in order to maximize customer loyalty.
customer- perceived value
The difference between total customer value and total customer cost
The extent to which a product's perceived performance matches a buyer's expectations
the customer’s evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers
use of social networks
loyalty and retention programs
frequency marketing programs
club marketing programs
customer lifetime value
share of customer
the portion of the customer’s purchasing that a company gets in its product categories
changing marketing landscape