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nt philosophy that holds that achieving organizational
goals depends on knowing the needs and
wants of target markets and delivering the desired
satisfaction better than competitors.
à 2)Needs,wants and demands
Ø
–Physical needs: Food, clothing, shelter, safety
–Social needs: Belonging, affection
–Individual needs: Learning, knowledge, self-expression
Ø
Ø
à 3）Customer Perceived Value
Customer’s evaluation of the difference between all of the benefits and all of the costs of a marketing offer relative to those of competing offers.” (Armstrong & Kotler)
Note:
–Perceptions may be subjective
–Consumers often do not objectively judge values and costs.
F 2 Basic marketing concepts[T6]
à 1) The Marketing Mix (4Ps)
The set of controllable, tactical marketing tools that the firm blends to produce the response it wants in the target market.
•The elements are not independent of each other.
•The mix elements should be well blended to form a consistent theme
•The marketing mix matches customer needs
•The marketing mix matches corporate resources
•The marketing mix creates a competitive advantage
à 2)Segmentation, Targeting and Positioning
Ø
The process of dividing a market into distinct groups of buyers with different needs, characteristics, or behavior who might require separate products of marketing programs. Key segmenting variables include:
–Geographic[T8]
–Demographic[T9]
–Psychographic[T10]
–Behavioral [T11]
Ø
Market targeting involves:
•Evaluating marketing segments[T13]
–Segment size, segment structural attractiveness, and company objectives and resources[T14]
•Selecting target market segments[T15]
–Alternatives range from undifferentiated marketing[T16]
•Being socially responsible
Ø
A product’s position is:
•The way the product is defined by consumers on important attributes—the place the product occupies in consumers’ minds relative to competing products.
•Perceptual positioning maps can help define a brand’s position relative to competitors.
Summary:
Market Orientation
A simple model of the marketing process:
•Understand the marketplace and customer needs and wants.
•Design a customer-driven marketing strategy.
•Construct an integrated marketing program that delivers superior value.
•Build profitable relationships and create customer delight.
•Capture value from customers to create profits and customer quality.
Marketing managers must consider the following, to ensure a successful marketing strategy:
1.What customers will we serve?
-What is our target market?
2.How can we best serve these customers?-What is our value proposition?
à 2)Needs,wants and demands
Ø
–Physical needs: Food, clothing, shelter, safety
–Social needs: Belonging, affection
–Individual needs: Learning, knowledge, self-expression
Ø
Ø
à 3）Customer Perceived Value
Customer’s evaluation of the difference between all of the benefits and all of the costs of a marketing offer relative to those of competing offers.” (Armstrong & Kotler)
Note:
–Perceptions may be subjective
–Consumers often do not objectively judge values and costs.
F 2 Basic marketing concepts[T6]
à 1) The Marketing Mix (4Ps)
The set of controllable, tactical marketing tools that the firm blends to produce the response it wants in the target market.
•The elements are not independent of each other.
•The mix elements should be well blended to form a consistent theme
•The marketing mix matches customer needs
•The marketing mix matches corporate resources
•The marketing mix creates a competitive advantage
à 2)Segmentation, Targeting and Positioning
Ø
The process of dividing a market into distinct groups of buyers with different needs, characteristics, or behavior who might require separate products of marketing programs. Key segmenting variables include:
–Geographic[T8]
–Demographic[T9]
–Psychographic[T10]
–Behavioral [T11]
Ø
Market targeting involves:
•Evaluating marketing segments[T13]
–Segment size, segment structural attractiveness, and company objectives and resources[T14]
•Selecting target market segments[T15]
–Alternatives range from undifferentiated marketing[T16]
•Being socially responsible
Ø
A product’s position is:
•The way the product is defined by consumers on important attributes—the place the product occupies in consumers’ minds relative to competing products.
•Perceptual positioning maps can help define a brand’s position relative to competitors.
Summary:
Market Orientation
A simple model of the marketing process:
•Understand the marketplace and customer needs and wants.
•Design a customer-driven marketing strategy.
•Construct an integrated marketing program that delivers superior value.
•Build profitable relationships and create customer delight.
•Capture value from customers to create profits and customer quality.
Marketing managers must consider the following, to ensure a successful marketing strategy:
1.What customers will we serve?
-What is our target market?
2.How can we best serve these customers?-What is our value proposition?