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MARKETING - Coggle Diagram

- - - - Consumer-Generated Marketing
      - Partner relationship management
      - Customer-Engagement Marketing
      - Customer lifetime value
      - Customer equity
  - - - True friend
        
        both profitable and loyal
      - Barnacles
        
        highly loyal but not very profitable
      - Butterfly
        
        potentially profitable but not loyal
      - Stranger
        
        low potential profitability and little projected loyalty
- - - - Ethics and social responsibility
        
        seek profit by serving the best long run interest of their customers and communities
    - - Not-for-profit marketing
        
        importance of strategic marketing
    - - Marketing relationships
        
        retain and maintain the customer relationship
    - - Globalization
        
        Geographical and cultural distances have shrunk-borderless.
    - - Digital age
        
        Growth of internet and advance in telecommunication.
- - - - Understand the market place and the needs and wants of the customers
      - Construct an integrated marketing program.
      - Understand the market place and the needs and wants of the customers
      - Build profitable relationship.
      - Capture value from customer to create profit and customer equity.
- - - - Price
        
        Amount of money customers have to pay to obtain the
        product.
    - - Place
        
        Company activities that make the product available to target consumers.
    - - Product
        
        Goods and services (combination) the company offers to the target markets.
    - - Promotion
        
        Activities that communicate the merits of the product and persuade target customers to buy it.
- - - - Need
        
        A basic part of human life
    - - Wants
        
        A form of needs that shaped by culture and individual
    - - Demands
        
        People demand product with benefits that add up to the most value and satisfaction
    - - Marketing offer
        
        Combination of products, services, information or experiences that satisfy a need or want
    - - Value and Satisfaction
        
        Marketers must give value to customer in order for them to be satisfied
    - - Exchange, Transaction and Relationship
        
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    - - Market
        
        Set of actual and potential buyers of a product
- - - - Definition
        
        Art and science of choosing target markets and building profitable relationships with them.
    - - Production concept
        
        Consumer will favor product that available and affordable while the management will improve the production and distribution of product.
      - Product concept
        
        Consumer will favor product with most quality, performance and innovative so the marketing strategies is to improve product continuously.
      - Selling concept
        
        Practiced with unsought goods-insurance, blood donation-buyers do not normally think of buying/using. (profit through sales volume)
      - Marketing concept
        
        Knowing the needs/wants of target markets and delivering the desired satisfaction better than competitor’s do. (profit through customer's satisfaction)
      - The societal-marketing concept
        
        Conflicts between consumer short run wants and consumer long run welfare. (putting consumer before profit)