knowledge clips and lectures theories of marketing ()

TABLE OF CONTENTS
TOPIC 1: NEW DEVELOPMENTS IN MARKETING THINKING AND STRATEGY .......................................................... 2
TOPIC 2: CONSUMER INSIGHTS AND MOTIVATIONS .............................................................................................. 5
TOPIC 3: VALUE EQUITY & INNOVATION ................................................................................................................ 8
TOPIC 4: CONSUMER BEHAVIOR ........................................................................................................................... 14
TOPIC 5: BRAND AND RELATIONSHIP EQUITY ....................................................................................................... 19

, TOPIC 1: NEW DEVELOPMENTS IN MARKETING THINKING AND
STRATEGY KNOWLEDGE CLIP 1: ORIGINS OF MARKETING THOUGHT (TWO
ARTICLES NARVER & SLATER) WHAT IS MARKETING?
- FUNCTIONS & PROCESS/ACTIVITIES TO DELIVER “CUSTOMER VALUE” (E.G. CRM,
MARKETING ANALYTICS, PRICING, INSIGHTS ETC.).
- A BUSINESS PHILOSOPHY -> A WAY TO APPROACH THE MARKET

STAGES IN MARKETING:
 PRODUCTION ORIENTATION: MARKETING BEGAN WITH INDUSTRIAL REVOLUTION,
STARTING WITH MASS STANDARDIZATION  BRINGING THE PRODUCT TO THE
MARKET. MARKETING WAS ALL ABOUT DISTRIBUTION AND LOGISTICS
(EFFICIENCIES). MAKING PRODUCTS ACCESSIBLE FOR THE MARKET.
 SELLING ORIENTATION: SUCCESS IS WHEN YOU ACTUALLY TELL YOUR TARGET
MARKET THAT YOU ARE THE BETTER ONE. LOTS OF COMPETITORS SO YOU HAVE TO
DO IT DIFFERENTLY.
 MARKETING ORIENTATION: SO MANY OPTIONS AVAILABLE ON THE MARKET THAT
SHOUTING THAT YOUR PRODUCT IS THE BEST DOES NOT WORK ANYMORE. CURRENT
MARKETING THINKING = MARKETING CONCEPT LISTEN FIRST TO THE TARGET
MARKET (NEEDS/WANTS) AND WHAT IS NOT YET ON THE MARKET AND THEN
ADJUST THE PRODUCTION TO IT. QUALITY IS NOT THE ONLY IMPORTANT VALUE
DRIVER.

1985: “MARKETING IS THE PROCESS OF PLANNING AND EXECUTING CONCEPTION, PRICING,
PROMOTION AND DISTRIBUTION OF GOODS, IDEAS, AND SERVICES TO CREATE EXCHANGES
THAT SATISFY INDIVIDUAL AND ORGANIZATIONAL GOALS”.
2012: “MARKETING IS THE ACTIVITY, SET OF INSTITUTIONS, AND PROCESSES FOR CREATING,
COMMUNICATING, DELIVERING, AND EXCHANGING OFFERINGS THAT HAVE VALUE FOR
CUSTOMERS, CLIENTS, AND SOCIETY AT LARGE”.

THUS, FROM TRANSACTION & PRODUCT DRIVEN (METRIC: MARKET SHARE) TO RELATION &
VALUE DRIVEN (METRIC: SHARE OF WALLET I.E. LOYALTY).

TWO MAIN MARKETING DECISIONS:
1. SEGMENTATION  UNDERSTANDING CONSUMERS / SUBGROUPS WITH DIFFERENT NEEDS.
2. VALUE DIFFERENTIATION  CREATING CUSTOMER VALUE (FEATURES THAT ARE
VALUABLE FOR PARTICULAR GROUP).

KNOWLEDGE CLIP 2: NETWORK PARADIGM (ACHROL & KOTLER,2012)
IN EVERY PART OF CHANNEL OF THE VALUE CHAIN (SUPPLIER – ORGANIZATION –
DISTRIBUTORS) HAVE BEEN MANY CHANGES. DYNAMICS IN- AND OUTSIDE THE MARKET
HAVE CHANGED THE WAY IN HOW WE APPROACH MARKETING. IT IS MORE ABOUT THE
BRAND NOW INSTEAD OF THE PRODUCTS.

MAIN IDEA OF THIS ARTICLE: WE HAVE TO CHANGE OUR PERSPECTIVE (PARADIGM SHIFT)
ON THE MARKET AND HOW WE MAKE OUR MARKETING DECISIONS FROM AN EXCHANGE
PARADIGM TO A NETWORK PARADIGM. THEN WE CAN BETTER PREDICT WHAT IS
HAPPENING AND CONTROL. BECAUSE THERE ARE ALREADY CHANGES HAPPENING IN THE
MARKET BASED ON THREE LEVELS, WE NEED TO CHANGE THIS PERSPECTIVE (OUT STARTING
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,POINT):

*SUB-PHENOMENA: CONSUMPTION EXPERIENCES (THE VALUE EXCHANGE LEVEL). CHANGES ARE
FROM SATISFACTION TO CONSUMER EXPERIENCES (COGNITIVE PROCESSES  STIMULATING
SENSES).




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, TECHNOLOGY IS INFLUENCING THESE EXPERIENCES. SO, THESE EXPERIENCES ARE NOT
JUST PRODUCT RELATED BUT A NETWORK EXPERIENCE (IT INVOLVES A LOT MORE
SENSES AND A LOT MORE REACTIONS FROM THE CONSUMER).

*PHENOMENA: MARKETING NETWORKS (ALL THE PARTIES THAT ARE ACTIVE IN CREATING
VALUE FOR THE CUSTOMER). IN ALL LEVELS OF THE VALUE CHAIN (BACK, CENTRE AND
FRONT) IT IS ALL NETWORKS INTERACTING WITH NETWORKS.
BACK SIDE (SUPPLIERS) – PRODUCTION & INNOVATION NETWORKS (OUTSOURCING)
CENTRE SIDE (BRAND ITSELF) – MICRO-PRODUCTION SYSTEMS (DISINTERMEDIATION =
TAKING OUT MIDDLE MAN E.G. E-BOOKS). (NANO) TECHNOLOGY (LOCAL/PERSONAL
PRODUCTION) AND CO-PRODUCTION, CREATION. THIS BRINGS THE SELLER CLOSER TO THE
BUYER.
FRONT SIDE (CONSUMERS) – CONSUMPTION NETWORKS (VERTICAL & HORIZONTAL) LIKE
BLOGS, CHATS ETC. IS IS NOT ABOUT THE INDIVIDUAL ANYMORE BUT WE NEED NETWORKS
OF CONSUMERS IN ORDER TO KNOW ABOUT THEIR WANTS/NEEDS AND HOW TO RESPOND
TO THIS, CREATE VALUE.

*SUPER PHENOMENA: SUSTAINABILITY / SOCIETY (LEVEL BEYOND THE VALUE CHAIN
LEVEL). THE WHOLE VALUE CHAIN IS PART OF A COMMUNITY ON SOCIETAL LEVEL. FROM
FIRM&CONSUMER TO FIRM&SOCIETAL EFFECTS, FROM REACTIVE TO PROACTIVE
(SUPERIOR PRODUCTS&DEMARKETING) AND FROM GROWTH (EMERGING MARKETS) TO
BOTTOM OF PYRAMID MARKET (DEVELOPING MARKETS) (RIJKE LANDEN NAAR
ONTWIKKELINGSLANDEN).

WHAT IS EXCHANGE = EXCHANGE BETWEEN TWO PARTIES, INTERACTION BETWEEN
ENTITIES OF BUYER AND SELLER.
NETWORKS = GROUPS OF ENTITIES ARE INTERACTING WITH EACH OTHER. WE SHOULD
NOW THINK OF NETWORKS AND THEIR THEORY IN ORDER TO BE ABLE TO CREATE VALUE
(FOR THE MARKET).

SO, AS A FIRM YOU NEED TO BE PART OF THE BIGGER PICTURE (NETWORKS) IN ORDER TO

DOING BUSINESS. LINK MARKETING 3.0 AND NETWORK PARADIGM  THE LINK IS IN THE

SUPER-PHENOMENAL PHASE.
MARKETING IS HOW YOU CAN COMPETE EN NETWORK PERSPECTION IS THE BROADER
PICTURE (THERE ARE OTHER GROUPS YOU NEED TO TAKE INTO ACCOUNT WHEN DOING




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