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Marketing: Building Customer Relationships - Coggle Diagram
Marketing: Building Customer Relationships
What is Marketing?
Contemporary marketing:
Websites that help buyers find the best price,
identify product features, and question sellers.
Blogs and social network site that cultivate consumer relationships
4 eras of US Marketing
Production Era
Selling Era
Marketing Concept Era
Service Orientation -- Making sure everyone in
an organization is committed to customer satisfaction
Customer Orientation -- Finding out what
customers want and then providing it
Profit Orientation -- Focusing on the goods and
services that will earn the most profit.
Customer Relationship Era
The activity, set of institutions and processes for creating, communicating, delivering, and exchanging offerings with value for customers, clients, partners, and society at large
Nonprofit marketing: Fundraising, Public Relations, Special Campaigns, Ecological practices, Changing public opinions and attitudes, Increasing organizational membership.
Nonprofit marketing strategies: Determine the firm’s goals and objectives, Focus on long-term marketing, Find a competent board of directors, Exercise strategic planning, Train and develop long-term volunteers, Carefully segment the target market.
Marketing mix
Pricing and Placing a product
Pricing products depends on many factors: Competitors’ prices, Production costs, Distribution, High or low price strategies
Developing a product
Product: A good, service, or idea that satisfies a consumer’s want or need.
Test Marketing: Testing product concepts among potential product users.
Brand Name: A word, letter, or a group of words or letters that differentiates one seller’s goods from a competitor’s
Promoting the product
Promotion: All the techniques sellers use to inform people about their products and motivate them to purchase those products
Promotion includes: Advertising, personal selling, public relations, vital marketing, sales promotions.
Providing Marketer with Information
Key benefits of Marketing Research
Analyze current markets and opportunities
Analyze customer needs and satisfaction
Analyze the effectiveness of marketing strategies.
Analyze marketing process and tactics currently used.
Analyze the reasons for goal achievement or failure
Ways to find out customers think
Host a customer focus group.
Listen to competitor’s customers
Conduct informal consumer surveys.
Survey your sales force
Become a “phantom” customer
4 step in the marketing research process
Defining the problem or opportunity and determining the present situation.
Collecting research data
Analyzing the data
Choosing the best solution and implementing it
Scanning the Marketing Environment
Factors involved in the environmental scan include: Global factors, Technological factors, Sociocultural factors, Competitive factors, Economic factors
Environmental Scanning: The process of identifying factors that affect marketing success.
The Consumer and B2B market
Business-to-Business (B2B): Individuals and organizations that buy goods and services to use in production or to sell, rent, or
supply to others.
Consumer Market: All the individuals or households that want goods and services for personal use and have the resources to buy them
The Consumer Market
Target Marketing: Selecting which segments an organization can serve profitably
Market Segmentation: Divides the total market into groups with similar characteristics
Psychographic Segmentation -- Dividing the market by group values, interests, and opinions
Demographic Segmentation: Dividing the market by age, income, education, and other demographic variables.
Geographic Segmentation: Dividing the market by cities, counties, states, or regions
Benefit Segmentation -- Dividing the market according to product benefits the customer prefers
Volume (Usage) Segmentation -- Dividing the market by the volume of product use
Mass Marketing: Developing products and promotions to please large groups of people.
Relationship Marketing: Rejects the idea of mass production and focuses toward custom-made goods and services for customers.
Step in the Consumer Decision Making Process
Search for information
Evaluating alternatives
Problem recognition
Purchase decision
Post purchase evaluation
The B2B Market
Products are often sold and resold several times before reaching final consumers.
B2B Market differences: There are relatively few customers, Customers tend to be large buyers, Markets are geographically concentrated, Buyers are more rational than emotional, Sales are direct, Promotions focus
heavily on personal selling.
B2B marketers include: Manufacturers, Wholesalers and retailers, Hospitals, schools and charities, Government