Readings
Phan, T & Le, U, Vietnam’s search for tomorrow: Insights for brands, Think with Google, viewed 9 November
2020, <https://www.thinkwithgoogle.com/intl/en-apac/marketing-strategies/search/vietnams-search-for-
tomorrow-insights-for-brands/>.
This report could be useful for enriching your understanding of the latest Digital Search Trends (part of Marketing
Environment). It could be relevant to your assignments and any digital-related work.
Euromonitor International 2020, Growth of Sustainability in Southeast Asia, Euromonitor International.
This report could be useful for enriching your understanding of the latest Sustainability trends in Southeast Asia (part of
Marketing Environment). There are 6 sustainability focus areas: Supply chain transparency, Sustainable sourcing, Water
scarcity, Technology accelerating sustainability, Circular economy, Net zero economy. You can also find information about
the impact of Covid-19 on Sustainability.
1. Chapter 3 'The marketplace and customers: Analysing the environment' of this book: Armstrong, G, Adam, S,
Denize, S, Volkov, M, & Kotler, P 2017, Principles of Marketing, Pearson Education Australia, Melbourne.
2. Chapter 2 'Online marketplace analysis: micro-environment' and Chapter 3 'The digital macro-environment' of
this book: Chaffey, D, & Ellis- Chadwick, F 2019, Digital Marketing, Pearson Education Limited, Harlow, United
Kingdom
1
, TOPIC 1: What is Marketing?
Marketing: the process of engaging with customers, fostering strong customer relationships and creating value -> in
return, capture value back from customers (sales, money, customer equity)
The Marketi ng Process
1. Understand the marketplace & customer needs
2. Design a customer-driven marketing strategy
3. Construct an integrated marketing program that delivers superior value
4. Build profitable relationships and create customer delight
5. Capture value from customers to create profits and customer equity
Stage 1: Understand the Marketplace and Customer Needs
5 Core customer and marketplace concepts
Needs, wants and demands MASLOW
Market Offering (product, service, info., experience)
Value and satisfaction
Exchanges and relationships
Markets
CUSTOMER NEEDS, WANTS & DEMAND
Needs – states of felt deprivation
Physical needs: Food, clothing, warmth, safety
Social: Belonging and love
Individual needs: Knowledge & self-expression
Wants – The form that human needs take, are shaped by
culture values + individual personality
Wants are described in terms as objects to satisfy needs
Demand – Human wants backed by Buying Power $$
Job of marketer -> find out can customer afford it/willing to spend that much -> transform needs/wants into
demand
Marketing offering: combination of Product, Service, Information & Experience offered to satisfy needs/wants of
customers
Marketing myopia: when the company is mistakenly focused on existing wants – losing sight of underlying customer
needs.
Focused on attributes of the product INSTEAD of experience, benefits it provides to customers
Smart marketers focus on the solution their products offer to cust. needs
2
, CUSTOMER VALUE AND SATISFACTION
- Customers form expectations abt value & satisfaction various market offerings will deliver, and buy
accordingly
- Needs to balance: Customer expectations vs Marketers ability to deliver
Satisfied => buy again, tell others Dissatisfied => switch to competitors, tell others
EXCHANGES, TRANSACTIONS AND MARKETS
Exchange: The act of obtaining a desired object from someone – by offering something in return.
Marketing occurs when: ppl decide to satisfy wants&needs through exchange relationships e.g a youtuber
wants views
Transaction: A trade between 2 parties, involves at least 2 things of values, agreed-upon conditions, and a time &
place of agreement
Marketing’s unit of measurement – e.g one give $12 to a bakery, and gets a cake in return
Market: Set of all actual & potential buyers of a product/service
Buyers share a specific needs/want that can be satisfied in exchange relationship
Stage 2: Design a customer-driven marketing strategy
Marketing Management: art and science of choosing a. Select customers to serve
target markets and building profitable relationships Company wants to select customers it can serve well an
with them. profitably
AIM: find, attract, keep, and grow target Decide who it’ll serve by dividing market into customer
customer by creating, delivering, and segments (market segmentation) -> selecting which
communicating superior customer value segment to go for (target marketing)
KEY Qs to determine marketing strategy b. Choose a Value Proposition
- What customers will we serve? => target - How it will differentiate and position itself in
market the market
- How can we best serve them? => value - Value Proposition: set of values or benefits it
proposition promises to deliver to consumers – to satisfy
their need
3
, Marketing Management Orientations
Concern progresses: focus on business -> customer interest -> societal benefits
1. Production Concept 4. Marketing Concept
Focus: improving production + distribution Understanding wants & needs of target
efficiency market – deliver desired product
focus on production process (productivity): Customizing the product to suit the needs
o Decrease production cost + produce as of customer -> target customer then offer the
much as possible -> Lower price - more
affordable for ppl
o Increase availability e.g franchise
2.Product Concept
Customer favour products: offer the most in
quality, performance, and innovative features
Management focuses on making continuous
product improvements
3. Selling Concept
Uses heavy selling and large-scale promotion
effort
Products people don't usually think of buying product
e.g life insurance - inorder for customer to buy Case: KFC customize menu to VN tastes
it -> explain benefits to customers “OUTSIDE IN” approach:
“INSIDE OUT” approach: Starts with market -> focus: customer needs ->
Starts with factory -> focus: existing products -> integrated marketing -> Profits thru. customer
selling and promoting -> Profits thru. sales volume satisfaction
5. Societal Marketing Concept
Make marketing decisions -> ethics
involves 3 parties:
1. Customer needs
2. Company’s requirement (profit)
3. Society’s long-run benefits (welfare)
Application: Jolibee
Marketing concept:
Stage 3: Preparing an Integrated Marketing Plan and Program
To deliver marketing proposition, firms must: production - adhere to world class
producing standards ISO, franchising
Product: create need-satisfying market offering available - increase availability distinct of P
Price: decide how much to charge concept
Place: how MK offering is available to target cust. product: tried tested formulas for items ->
selling: drive
Promotion: communicate with target customer abt the offer – persuade themins, kids
of its meal
benefits
marketing : adapt to local taste e.g rice
Blend 4P MK Mix into an integrated marketing program - communicates & deliver
social: it’s value
support foodtobanks
chosen customers
4
Phan, T & Le, U, Vietnam’s search for tomorrow: Insights for brands, Think with Google, viewed 9 November
2020, <https://www.thinkwithgoogle.com/intl/en-apac/marketing-strategies/search/vietnams-search-for-
tomorrow-insights-for-brands/>.
This report could be useful for enriching your understanding of the latest Digital Search Trends (part of Marketing
Environment). It could be relevant to your assignments and any digital-related work.
Euromonitor International 2020, Growth of Sustainability in Southeast Asia, Euromonitor International.
This report could be useful for enriching your understanding of the latest Sustainability trends in Southeast Asia (part of
Marketing Environment). There are 6 sustainability focus areas: Supply chain transparency, Sustainable sourcing, Water
scarcity, Technology accelerating sustainability, Circular economy, Net zero economy. You can also find information about
the impact of Covid-19 on Sustainability.
1. Chapter 3 'The marketplace and customers: Analysing the environment' of this book: Armstrong, G, Adam, S,
Denize, S, Volkov, M, & Kotler, P 2017, Principles of Marketing, Pearson Education Australia, Melbourne.
2. Chapter 2 'Online marketplace analysis: micro-environment' and Chapter 3 'The digital macro-environment' of
this book: Chaffey, D, & Ellis- Chadwick, F 2019, Digital Marketing, Pearson Education Limited, Harlow, United
Kingdom
1
, TOPIC 1: What is Marketing?
Marketing: the process of engaging with customers, fostering strong customer relationships and creating value -> in
return, capture value back from customers (sales, money, customer equity)
The Marketi ng Process
1. Understand the marketplace & customer needs
2. Design a customer-driven marketing strategy
3. Construct an integrated marketing program that delivers superior value
4. Build profitable relationships and create customer delight
5. Capture value from customers to create profits and customer equity
Stage 1: Understand the Marketplace and Customer Needs
5 Core customer and marketplace concepts
Needs, wants and demands MASLOW
Market Offering (product, service, info., experience)
Value and satisfaction
Exchanges and relationships
Markets
CUSTOMER NEEDS, WANTS & DEMAND
Needs – states of felt deprivation
Physical needs: Food, clothing, warmth, safety
Social: Belonging and love
Individual needs: Knowledge & self-expression
Wants – The form that human needs take, are shaped by
culture values + individual personality
Wants are described in terms as objects to satisfy needs
Demand – Human wants backed by Buying Power $$
Job of marketer -> find out can customer afford it/willing to spend that much -> transform needs/wants into
demand
Marketing offering: combination of Product, Service, Information & Experience offered to satisfy needs/wants of
customers
Marketing myopia: when the company is mistakenly focused on existing wants – losing sight of underlying customer
needs.
Focused on attributes of the product INSTEAD of experience, benefits it provides to customers
Smart marketers focus on the solution their products offer to cust. needs
2
, CUSTOMER VALUE AND SATISFACTION
- Customers form expectations abt value & satisfaction various market offerings will deliver, and buy
accordingly
- Needs to balance: Customer expectations vs Marketers ability to deliver
Satisfied => buy again, tell others Dissatisfied => switch to competitors, tell others
EXCHANGES, TRANSACTIONS AND MARKETS
Exchange: The act of obtaining a desired object from someone – by offering something in return.
Marketing occurs when: ppl decide to satisfy wants&needs through exchange relationships e.g a youtuber
wants views
Transaction: A trade between 2 parties, involves at least 2 things of values, agreed-upon conditions, and a time &
place of agreement
Marketing’s unit of measurement – e.g one give $12 to a bakery, and gets a cake in return
Market: Set of all actual & potential buyers of a product/service
Buyers share a specific needs/want that can be satisfied in exchange relationship
Stage 2: Design a customer-driven marketing strategy
Marketing Management: art and science of choosing a. Select customers to serve
target markets and building profitable relationships Company wants to select customers it can serve well an
with them. profitably
AIM: find, attract, keep, and grow target Decide who it’ll serve by dividing market into customer
customer by creating, delivering, and segments (market segmentation) -> selecting which
communicating superior customer value segment to go for (target marketing)
KEY Qs to determine marketing strategy b. Choose a Value Proposition
- What customers will we serve? => target - How it will differentiate and position itself in
market the market
- How can we best serve them? => value - Value Proposition: set of values or benefits it
proposition promises to deliver to consumers – to satisfy
their need
3
, Marketing Management Orientations
Concern progresses: focus on business -> customer interest -> societal benefits
1. Production Concept 4. Marketing Concept
Focus: improving production + distribution Understanding wants & needs of target
efficiency market – deliver desired product
focus on production process (productivity): Customizing the product to suit the needs
o Decrease production cost + produce as of customer -> target customer then offer the
much as possible -> Lower price - more
affordable for ppl
o Increase availability e.g franchise
2.Product Concept
Customer favour products: offer the most in
quality, performance, and innovative features
Management focuses on making continuous
product improvements
3. Selling Concept
Uses heavy selling and large-scale promotion
effort
Products people don't usually think of buying product
e.g life insurance - inorder for customer to buy Case: KFC customize menu to VN tastes
it -> explain benefits to customers “OUTSIDE IN” approach:
“INSIDE OUT” approach: Starts with market -> focus: customer needs ->
Starts with factory -> focus: existing products -> integrated marketing -> Profits thru. customer
selling and promoting -> Profits thru. sales volume satisfaction
5. Societal Marketing Concept
Make marketing decisions -> ethics
involves 3 parties:
1. Customer needs
2. Company’s requirement (profit)
3. Society’s long-run benefits (welfare)
Application: Jolibee
Marketing concept:
Stage 3: Preparing an Integrated Marketing Plan and Program
To deliver marketing proposition, firms must: production - adhere to world class
producing standards ISO, franchising
Product: create need-satisfying market offering available - increase availability distinct of P
Price: decide how much to charge concept
Place: how MK offering is available to target cust. product: tried tested formulas for items ->
selling: drive
Promotion: communicate with target customer abt the offer – persuade themins, kids
of its meal
benefits
marketing : adapt to local taste e.g rice
Blend 4P MK Mix into an integrated marketing program - communicates & deliver
social: it’s value
support foodtobanks
chosen customers
4
