© Prentice Hall, 2005 Excellence in Business, Revised Edition

Chapter 12 - 1

Fundamentals of Fundamentals of Marketing, Customers, Marketing, Customers,

and Strategic and Strategic Marketing PlanningMarketing Planning

© Prentice Hall, 2005 Excellence in Business, Revised Edition

Chapter 12 - 2

Marketing in a Changing Marketing in a Changing WorldWorld

• Planning

• New product

• Execution

© Prentice Hall, 2005 Excellence in Business, Revised Edition

Chapter 12 - 3

What is Marketing?What is Marketing?

• Conception

• Pricing

• Promotion

• Distribution

© Prentice Hall, 2005 Excellence in Business, Revised Edition

Chapter 12 - 4

Core Marketing ConceptsCore Marketing Concepts

• Needs, wants, and demands

• Products and services

• Value, satisfaction, and quality

• Exchanges, transactions, relationships

• Markets

© Prentice Hall, 2005 Excellence in Business, Revised Edition

Chapter 12 - 5

Types of MarketingTypes of Marketing

• Product marketing

• Place marketing

• Cause-related marketing

© Prentice Hall, 2005 Excellence in Business, Revised Edition

Chapter 12 - 6

The Four UtilitiesThe Four Utilities

• Form

• Time

• Place

• Possession

© Prentice Hall, 2005 Excellence in Business, Revised Edition

Chapter 12 - 7

Fundamental ConceptsFundamental Concepts

• Product

• Selling

• Marketing

• Relationship

© Prentice Hall, 2005 Excellence in Business, Revised Edition

Chapter 12 - 8

Buyers and the InternetBuyers and the Internet

• Transactions

• Competition

• Research

• Interaction

• Choices

• Delivery

© Prentice Hall, 2005 Excellence in Business, Revised Edition

Chapter 12 - 9

Sellers and the InternetSellers and the Internet

• Marketing and product research

• Sales and distribution

• Customer support and feedback

© Prentice Hall, 2005 Excellence in Business, Revised Edition

Chapter 12 - 10

Today’s CustomersToday’s Customers

• Sophisticated

• Price sensitive

• Demanding

• Informed

© Prentice Hall, 2005 Excellence in Business, Revised Edition

Chapter 12 - 11

Customer SatisfactionCustomer Satisfaction

• Getting them costs more than keeping them.

• Long-term customers boost profits.

• Satisfied customers tell their friends.

• Customers will pay more for good service.

• Unhappy customers spread the word.

© Prentice Hall, 2005 Excellence in Business, Revised Edition

Chapter 12 - 12

Beyond Customer Beyond Customer SatisfactionSatisfaction

• Increase market share

• Boost profitability

• Maximize shareholder value

© Prentice Hall, 2005 Excellence in Business, Revised Edition

Chapter 12 - 13

Learning About Learning About CustomersCustomers

• Buying behavior

• Marketing research

• Database marketing

© Prentice Hall, 2005 Excellence in Business, Revised Edition

Chapter 12 - 14

Consumer Buying Consumer Buying BehaviorBehavior

• Organizational markets

• Consumer markets

© Prentice Hall, 2005 Excellence in Business, Revised Edition

Chapter 12 - 15

The Buyer’s Decision The Buyer’s Decision ProcessProcess

• Need recognition

• Information search

• Evaluation of alternatives

• Purchase

• Postpurchase evaluation

© Prentice Hall, 2005 Excellence in Business, Revised Edition

Chapter 12 - 16

Factors That Influence Factors That Influence the Buyer’s Decision the Buyer’s Decision

ProcessProcess• Culture

• Social class

• Reference groups

• Self-image

• Situational factors

© Prentice Hall, 2005 Excellence in Business, Revised Edition

Chapter 12 - 17

Marketing ResearchMarketing Research

• Set product goals

• Develop new products

• Plan marketing programs

• Analyze product usage patterns

• Track competition and trends

• Measure customer satisfaction

© Prentice Hall, 2005 Excellence in Business, Revised Edition

Chapter 12 - 18

Marketing Research Marketing Research MethodsMethods

• Observations

• Surveys and Questionnaires

• Experiments

• Interviews

• Small samples

• Focus groups

© Prentice Hall, 2005 Excellence in Business, Revised Edition

Chapter 12 - 19

Database MarketingDatabase Marketing

• Customers

–Preferences

– Interactions

–Behaviors

© Prentice Hall, 2005 Excellence in Business, Revised Edition

Chapter 12 - 20

One-to-One MarketingOne-to-One Marketing

• Identification

• Differentiation

• Interaction

• Customization

© Prentice Hall, 2005 Excellence in Business, Revised Edition

Chapter 12 - 21

Planning Marketing Planning Marketing StrategiesStrategies

• Examine current marketing situation

• Assess opportunities and set objectives

• Develop marketing strategies

© Prentice Hall, 2005 Excellence in Business, Revised Edition

Chapter 12 - 22

Examine the Current Examine the Current Marketing SituationMarketing Situation

• Reviewing performance

• Evaluating competition

• Examining strengths and weaknesses

• Analyzing the external environment

© Prentice Hall, 2005 Excellence in Business, Revised Edition

Chapter 12 - 23

Assess Opportunities Assess Opportunities and Set Objectivesand Set Objectives

• Market penetration

• New product development

• Geographic expansion

• Diversification

© Prentice Hall, 2005 Excellence in Business, Revised Edition

Chapter 12 - 24

Develop the Marketing Develop the Marketing StrategyStrategy

• Segments and niches

• Target markets

• Market position

• Marketing mix

© Prentice Hall, 2005 Excellence in Business, Revised Edition

Chapter 12 - 25

Segmenting MarketsSegmenting Markets

• Demographics

• Geographics

• Psychographics

• Geodemographics

• Behavior

• Internet usage

© Prentice Hall, 2005 Excellence in Business, Revised Edition

Chapter 12 - 26

Target Market StrategiesTarget Market Strategies

• Undifferentiated

• Differentiated

• Concentrated

© Prentice Hall, 2005 Excellence in Business, Revised Edition

Chapter 12 - 27

Positioning the ProductPositioning the Product

• Features

• Services

• Image

• Category leadership

© Prentice Hall, 2005 Excellence in Business, Revised Edition

Chapter 12 - 28

Developing the Marketing Developing the Marketing MixMix

• Target market

–Product

–Price

–Place

–Promotion