Notities marketing
Les 1: 23 september
Chapter 1: Marketing principles and practice
What is the primary goal of marketing?
→Understand and meet customers needs to create value
B2b market: business to business
B2c market: business to consumers
1.1. What is marketing?
Marketing is a social and managerial process by which individuals and groups obtain
what they need and want through creating and exchanging products and value with
others.
= build and maintain profitable customer relationships with stakeholders
What does marketing apply to?
1. Physical products
2. Services
3. Retail: only sell goods to consumers
4. Experiences: theme parks, …
5. Events
6. Film , music and theater
7. Places: Antwerp, …
8. Ideas: BOB campaign
9. Charity and non-profit
10.People: election campaigns
→ marketing applies anywhere “buyers” have a choice
,1.2. Difference between customers and consumers
The customer is the one who buys and the consumer is the one who uses.
Consumers’ buying roles:
Role Description Marketing implications and
application
initiator Initiates idea Target initiators by emphasizing how
a product addresses their needs
Influencer Influences decision E.g., collaborate with influencers
(by providing
information)
Decider Ultimate buying Facilitate decision-making process
decision (e.g., detailed product information)
Buyer Actual purchase Ensure smooth purchasing process
Payer Pays Offer various payment methods
User Consumes Provide user support, gather
feedback
Gatekeeper Controls access of Communicate effectively with
product information gatekeepers
,1.3. Market orientation
= the organization-wide generation of market intelligence pertaining to current
and future customer needs, dissemination of the intelligence across the
departments, and organization-wide responsiveness to it
Three components of market orientation (pwp 40)
1) Customer orientation: Developing and redeveloping offerings to meet customer
needs
2) Competitor orientation: understand the competition and find a way to do it better
3) Interfunctional coordination: requiring all an organization’s functions to work
together for long-term profit growth
Customer centricity = you put the customer at the centre of everything you do
→ try NOT to please ALL customers because it is impossible
, 1.5. Difference between marketing and sales
● Sales: product push (= …), short term, just buy
● Marketing: Product pull (= stimulating demand), long term you want long term
customers
Marketing Sales
Long-term satisfaction Short-term satisfaction
Greater input into customer design of Lesser input into customer design of
offering offering
High focus on stimulation of demand Low focus on stimulation of demand
More focused on meeting existing
demand
Customer satisfaction ⇒ put realistic expectations so you don't have dissatisfied
customers
Acquisition is more expensive than retention
→ Tip of the iceberg: we as consumers only see the advertising and sales and a little bit
of the pricing and market research (when we fill in a survey). All the rest we don’t see.
1.6. What do marketers do?
Placing the customer at the center of a company’s operations and decision-making
processes
- Generate customer insights
- Develop marketing strategy
Marketing within organizations:
● Enhancing a firm’s relationships with its customers
● Marketers do not control all the marketing mix elements
● Marketing is present in all aspects of an organization
Les 1: 23 september
Chapter 1: Marketing principles and practice
What is the primary goal of marketing?
→Understand and meet customers needs to create value
B2b market: business to business
B2c market: business to consumers
1.1. What is marketing?
Marketing is a social and managerial process by which individuals and groups obtain
what they need and want through creating and exchanging products and value with
others.
= build and maintain profitable customer relationships with stakeholders
What does marketing apply to?
1. Physical products
2. Services
3. Retail: only sell goods to consumers
4. Experiences: theme parks, …
5. Events
6. Film , music and theater
7. Places: Antwerp, …
8. Ideas: BOB campaign
9. Charity and non-profit
10.People: election campaigns
→ marketing applies anywhere “buyers” have a choice
,1.2. Difference between customers and consumers
The customer is the one who buys and the consumer is the one who uses.
Consumers’ buying roles:
Role Description Marketing implications and
application
initiator Initiates idea Target initiators by emphasizing how
a product addresses their needs
Influencer Influences decision E.g., collaborate with influencers
(by providing
information)
Decider Ultimate buying Facilitate decision-making process
decision (e.g., detailed product information)
Buyer Actual purchase Ensure smooth purchasing process
Payer Pays Offer various payment methods
User Consumes Provide user support, gather
feedback
Gatekeeper Controls access of Communicate effectively with
product information gatekeepers
,1.3. Market orientation
= the organization-wide generation of market intelligence pertaining to current
and future customer needs, dissemination of the intelligence across the
departments, and organization-wide responsiveness to it
Three components of market orientation (pwp 40)
1) Customer orientation: Developing and redeveloping offerings to meet customer
needs
2) Competitor orientation: understand the competition and find a way to do it better
3) Interfunctional coordination: requiring all an organization’s functions to work
together for long-term profit growth
Customer centricity = you put the customer at the centre of everything you do
→ try NOT to please ALL customers because it is impossible
, 1.5. Difference between marketing and sales
● Sales: product push (= …), short term, just buy
● Marketing: Product pull (= stimulating demand), long term you want long term
customers
Marketing Sales
Long-term satisfaction Short-term satisfaction
Greater input into customer design of Lesser input into customer design of
offering offering
High focus on stimulation of demand Low focus on stimulation of demand
More focused on meeting existing
demand
Customer satisfaction ⇒ put realistic expectations so you don't have dissatisfied
customers
Acquisition is more expensive than retention
→ Tip of the iceberg: we as consumers only see the advertising and sales and a little bit
of the pricing and market research (when we fill in a survey). All the rest we don’t see.
1.6. What do marketers do?
Placing the customer at the center of a company’s operations and decision-making
processes
- Generate customer insights
- Develop marketing strategy
Marketing within organizations:
● Enhancing a firm’s relationships with its customers
● Marketers do not control all the marketing mix elements
● Marketing is present in all aspects of an organization
