SAMENVATTING
MARKETING
Academiejaar 2024-2025
UA_1105TEWBDK_2425
Onderwezen door Prof Dr. Eva Heeremans
Opgesteld door Ismaël Diallo
, Marketing (2)
Chapter 1: What is Marketing?
Marketing
definitions
CIM ⇒ “The management process responsible for identifying,
anticipating, and satisfying customer requirements profitably.”
AMA⇒ “Marketing is the activity, set of institutions and processes for
creating communicating, delivering, and exchanging offerings that have
value for customers, clients, partners, and society at large.”
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
Marketing's primary goal = understanding customer needs and
creating value
Marketing applies to all the categories where buyers have a choice
Customers vs consumer
customer
= the buyer, a purchaser, a client or a shopper
Marketing (2) 1
, consumer
= the user of the product or service
Consumer buying roles
initiators= initiate idea
influencer= influences decision
decider= ultimate buying decision
buyer= actual purchase
payer= pays
User=consumes
Gatekeeper= controls access of product information
Market orientation
= The organization-wide generation of market intelligence pertaining to
current and future customer needs, dissemination (verspreiding) of the
intelligence across the departments, and organization-wide
responsiveness to it
3 needed developments
customer orientation
creating superior value & redeveloping offerings to meat
customer needs
measure customer satisfaction on a continuous basis
train frontline staff
competitor orientation
Understanding the competitors short-term strengths +
weaknesses
Interfunctional orientation
All functions within the company need to work → maximum long-
term profit growth
Marketing (2) 2
, companies that develop a market orientation ⇒ better at market
sensing
= understanding the strategic implications of the market and acting
on the collected information through environmental scanning
exercises
Marketing’s intellectual roots
Industrial economics ( supply and demand)
Psychology (understanding consumer behaviour)
Sociology (knowledge of the behave op groups of people (ethnic,
gender, age))
Anthropology (use of qualitative approaches⇒ ethnography,
netnography and observation in researching customer behaviour)
Computer science (algorithms for recommendations ,Ai and chatbots
)
Sales vs Marketing
Sales
emphasizes the proces of ‘product push’ by creating distribution
incentives for salespeople and customers to make exchanges
focus on acquisition
tends towards short-term satisfaction of customer needs
part of the value delivery process as opposed to designing
and development of customer value processes
Marketing (2) 3
, tends to lesser input into customer design and offering
tends to low focus on stimulation of demand; more focused
on meeting existing demand
marketing
focuses on creating ‘product pull’, by stoking demand among
customers and consumers. The offering is designed through
customer insight and co-creating to meet customers long-term
needs.
Focus on retention
tend towards long-term satisfaction of customer needs
tends to greater input into customer design and offering (co-
creation)
tends to high focus on stimulation of demand
What do marketers do?
⇒ putting customers in the center of a company’s operations and
decision-making process
generating customer insights
develop a good marketing strategy
Marketing = exchange
Marketing ⇒ 2-way exchange process ⇒ Company and customer inputs
customers ⇒ specify how we may satisfy their needs + pay for the
offering
Exchange ⇒ creates Value
Exchange = the act of obtaining a desired object from someone by
offering something in return
at least 2 parties
each must hold something of value to offer
Parties must want to deal with each other
Marketing (2) 4
, customer value
=the customer’s assessment of the product’s overall capacity to
satisfy his or her needs.
= ratio between perceived benefits and costs (both monetary and
non-monetary)
Outcomes of creating customer value
repeat purchases
positive word-of-mouth
customer loyalty and retention
growing market share
growing share of customer
building customer equity
combined lifetime value of all your customers
Marketing Mix (4P’s)
= the list of items a marketing manager should consider when devising plans
for marketing products and that is the 4P’s:
Marketing (2) 5
MARKETING
Academiejaar 2024-2025
UA_1105TEWBDK_2425
Onderwezen door Prof Dr. Eva Heeremans
Opgesteld door Ismaël Diallo
, Marketing (2)
Chapter 1: What is Marketing?
Marketing
definitions
CIM ⇒ “The management process responsible for identifying,
anticipating, and satisfying customer requirements profitably.”
AMA⇒ “Marketing is the activity, set of institutions and processes for
creating communicating, delivering, and exchanging offerings that have
value for customers, clients, partners, and society at large.”
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
Marketing's primary goal = understanding customer needs and
creating value
Marketing applies to all the categories where buyers have a choice
Customers vs consumer
customer
= the buyer, a purchaser, a client or a shopper
Marketing (2) 1
, consumer
= the user of the product or service
Consumer buying roles
initiators= initiate idea
influencer= influences decision
decider= ultimate buying decision
buyer= actual purchase
payer= pays
User=consumes
Gatekeeper= controls access of product information
Market orientation
= The organization-wide generation of market intelligence pertaining to
current and future customer needs, dissemination (verspreiding) of the
intelligence across the departments, and organization-wide
responsiveness to it
3 needed developments
customer orientation
creating superior value & redeveloping offerings to meat
customer needs
measure customer satisfaction on a continuous basis
train frontline staff
competitor orientation
Understanding the competitors short-term strengths +
weaknesses
Interfunctional orientation
All functions within the company need to work → maximum long-
term profit growth
Marketing (2) 2
, companies that develop a market orientation ⇒ better at market
sensing
= understanding the strategic implications of the market and acting
on the collected information through environmental scanning
exercises
Marketing’s intellectual roots
Industrial economics ( supply and demand)
Psychology (understanding consumer behaviour)
Sociology (knowledge of the behave op groups of people (ethnic,
gender, age))
Anthropology (use of qualitative approaches⇒ ethnography,
netnography and observation in researching customer behaviour)
Computer science (algorithms for recommendations ,Ai and chatbots
)
Sales vs Marketing
Sales
emphasizes the proces of ‘product push’ by creating distribution
incentives for salespeople and customers to make exchanges
focus on acquisition
tends towards short-term satisfaction of customer needs
part of the value delivery process as opposed to designing
and development of customer value processes
Marketing (2) 3
, tends to lesser input into customer design and offering
tends to low focus on stimulation of demand; more focused
on meeting existing demand
marketing
focuses on creating ‘product pull’, by stoking demand among
customers and consumers. The offering is designed through
customer insight and co-creating to meet customers long-term
needs.
Focus on retention
tend towards long-term satisfaction of customer needs
tends to greater input into customer design and offering (co-
creation)
tends to high focus on stimulation of demand
What do marketers do?
⇒ putting customers in the center of a company’s operations and
decision-making process
generating customer insights
develop a good marketing strategy
Marketing = exchange
Marketing ⇒ 2-way exchange process ⇒ Company and customer inputs
customers ⇒ specify how we may satisfy their needs + pay for the
offering
Exchange ⇒ creates Value
Exchange = the act of obtaining a desired object from someone by
offering something in return
at least 2 parties
each must hold something of value to offer
Parties must want to deal with each other
Marketing (2) 4
, customer value
=the customer’s assessment of the product’s overall capacity to
satisfy his or her needs.
= ratio between perceived benefits and costs (both monetary and
non-monetary)
Outcomes of creating customer value
repeat purchases
positive word-of-mouth
customer loyalty and retention
growing market share
growing share of customer
building customer equity
combined lifetime value of all your customers
Marketing Mix (4P’s)
= the list of items a marketing manager should consider when devising plans
for marketing products and that is the 4P’s:
Marketing (2) 5
