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Chapter 1 marketing creating - Coggle Diagram

- - - - 1) Understand the marketplace and customer needs and wants
      - 2) Design a customer value-driven marketing strategy
      - 3) Construct an integrated marketing program, that delivers superior value
      - 4) Build profitable relationships and create customer delight
- - - - Premise: Consumers will favor products that offer the most quality, performance, and features.
        
        • management focus is on continuous product improvements
        
        • focusing only on the company’s products can lead to marketing myopia, If you build a better mousetrap, will the world beat a path to your doors?
    - - Consumers will not buy enough of the firm’s products unless the firm undertakes a large-scale selling and promotion effort
        
        • typically practiced with unsought goods that buyers do not normally think of buying, e.g. life insurance or blood donations
        
        • focuses on creating sales transactions rather than on building long-term, profitable customer relationships
        
        • May lead to marketing myopia as the aim is often to sell what the company makes rather than making what the market wants
    - - Know the needs and wants of the target markets and deliver the desired satisfactions better than competitors.
        
        • customer centricity and value are the paths to sales and profits
        
        • instead of a product-centered make-and-sell philosophy, the marketing concept
        
        is a customer-centered sense-and-respond philosophy
        
        • aim is not to find the right customers for your product but to find the right products for your customers.
    - - Company’s marketing decisions should consider consumers’ wants, company’s requirements, and society’s long-run interests.
        
        • questions whether the pure marketing concept overlooks possible conflicts between consumer short-run wants and consumer long-run welfare. Is a firm that satisfies the immediate needs and wants of target markets always doing what’s best for its consumers in the long run?
        
        • calls for sustainable marketing, socially and environmentally responsible marketing that meets the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs.
    - - Premise: Consumers will favor products that are available and highly affordable.
        
        • management focuses on improving production and distribution efficiency
        
        • can lead to marketing myopia and losing sight of the real objective—satisfying customer needs and building customer relationships
    - - Society (human welfare)
      - Consumer(want satisfaction)
      - company(profit)
- - - - Customer- perceived value：The difference between total customer perceived benefits and customer cost
      - Customer satisfaction：The extent to which perceived performance matches a buyer ’s expectations
        • The difference between total customer perceived benefits and customer cost