Marketing
• ! Lectures+slides+ next to the handbook !
• Requierd reading --> probably a multiple choice questions
• 2 guest lectures
• Apply concept on a case on exam with open questions
• Working sessions: read case study in advance
• 30 multiple choice: 18/30
CHAPTER 1: MARKETING PRINCIPLES AND PRACTICE
1.1 What is Marketing?
Understand and meet customer needs to create value
DEF: Marketing is a social and managerial process by which individuals and groups
obtain what they need and want through creating and exchanging products and values
with others. → marketers should engage in marketing research, environmental
scanning, to anticipate customers needs
In business context: To build and maintain profitable relationships with stakeholders
B to C: buisines to consumer
C to C: consumer to consumer
! PERCEPTION and change on how consumers perceive your products!
• Why relevant?
1. Physical products
2. Services p.ex. tui, google, netflix
3. Retail : only sell to consumers p.ex. Zara
4. Experiences p.ex: Pairi daiza
5. Events p.ex: tomorrowland
6. Film, music theater
7. Places
8. Ideas p.ex: BOB
9. Charity and non-profit
10. People p.ex.: the kardashians
--> Apllies everywhere the buyers have a choice
1.2 What is the difference between customers and consumers?
,CUSTOMER: person who buys the product, purchases or obtains an offering
CONSUMER: person who uses it (or eats it)
p.ex: my dad paid the enrollment fees to study here, but i make use of it, that means
that i am the consumer and my dad the customer
P.ex. Different buying roles ice spice, directed at women but product is for the man
1.3. Market orientation
DEF: “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” (Kohli and Jaworski, 1990: 6).
--> de organisatiebrede informatie over de behoeften van de huidige en toekomstige
behoeften van de klanten, en de verspreding hiervan binnen de organisatie en de
reactie die daar op komt
▪ Organization-wide belief in delivering customer value
▪ Create products to meet existing and latent needs
- As marketeers we need to find what people don’t know they need yet
,- customer orientation: customer oriented, company adapts to changing needs of the
customer on a continious basis
- Competitor orientation: understand the strenghts and weaknesses of the
competitor and adapt , also know their own long- term capabilities
- Interfunctional coordination: think about the customer needs first , working
together within the company for long-term profit growth
--> long lasting relationships !
1.5. Differences between sales and marketing
Sales: product push, short term focus on satisfaction of customers needs, making
people buy
Marketing: product pull, long term focus on satisfaction of customers needs, high focus
on stimulation of demand, brand meaning, highlighting the advantages, stoking
demand (vraag doen stijgen)
, Customer satisfaction : expectation management, put the expectation right, don’t
overpromise
Acquisition vs retention
When you require people , marketing finds it important to do retention
--> doet meer aan het behouden van klanten, na het al ‘hebben’ van klanten --> het kost
meer om er nieuwe aan te werven dan om ze te behouden (mensen zijn al overtuigd van
het product)
Metaphore:
TIP OF THE ICEBERG: what consumers see is only a fraction of the brand p.ex: final
design, sales promotion
Under the surface p.ex.: pricing, underlining costs, product conception
SUPERFLUOUS: overbodig
1.6 What do marketers do?
Customer in the center of a company’s operations and decision making process
--> generate customer insights
--> develop marketing strategy
Within organizations:
• ! Lectures+slides+ next to the handbook !
• Requierd reading --> probably a multiple choice questions
• 2 guest lectures
• Apply concept on a case on exam with open questions
• Working sessions: read case study in advance
• 30 multiple choice: 18/30
CHAPTER 1: MARKETING PRINCIPLES AND PRACTICE
1.1 What is Marketing?
Understand and meet customer needs to create value
DEF: Marketing is a social and managerial process by which individuals and groups
obtain what they need and want through creating and exchanging products and values
with others. → marketers should engage in marketing research, environmental
scanning, to anticipate customers needs
In business context: To build and maintain profitable relationships with stakeholders
B to C: buisines to consumer
C to C: consumer to consumer
! PERCEPTION and change on how consumers perceive your products!
• Why relevant?
1. Physical products
2. Services p.ex. tui, google, netflix
3. Retail : only sell to consumers p.ex. Zara
4. Experiences p.ex: Pairi daiza
5. Events p.ex: tomorrowland
6. Film, music theater
7. Places
8. Ideas p.ex: BOB
9. Charity and non-profit
10. People p.ex.: the kardashians
--> Apllies everywhere the buyers have a choice
1.2 What is the difference between customers and consumers?
,CUSTOMER: person who buys the product, purchases or obtains an offering
CONSUMER: person who uses it (or eats it)
p.ex: my dad paid the enrollment fees to study here, but i make use of it, that means
that i am the consumer and my dad the customer
P.ex. Different buying roles ice spice, directed at women but product is for the man
1.3. Market orientation
DEF: “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” (Kohli and Jaworski, 1990: 6).
--> de organisatiebrede informatie over de behoeften van de huidige en toekomstige
behoeften van de klanten, en de verspreding hiervan binnen de organisatie en de
reactie die daar op komt
▪ Organization-wide belief in delivering customer value
▪ Create products to meet existing and latent needs
- As marketeers we need to find what people don’t know they need yet
,- customer orientation: customer oriented, company adapts to changing needs of the
customer on a continious basis
- Competitor orientation: understand the strenghts and weaknesses of the
competitor and adapt , also know their own long- term capabilities
- Interfunctional coordination: think about the customer needs first , working
together within the company for long-term profit growth
--> long lasting relationships !
1.5. Differences between sales and marketing
Sales: product push, short term focus on satisfaction of customers needs, making
people buy
Marketing: product pull, long term focus on satisfaction of customers needs, high focus
on stimulation of demand, brand meaning, highlighting the advantages, stoking
demand (vraag doen stijgen)
, Customer satisfaction : expectation management, put the expectation right, don’t
overpromise
Acquisition vs retention
When you require people , marketing finds it important to do retention
--> doet meer aan het behouden van klanten, na het al ‘hebben’ van klanten --> het kost
meer om er nieuwe aan te werven dan om ze te behouden (mensen zijn al overtuigd van
het product)
Metaphore:
TIP OF THE ICEBERG: what consumers see is only a fraction of the brand p.ex: final
design, sales promotion
Under the surface p.ex.: pricing, underlining costs, product conception
SUPERFLUOUS: overbodig
1.6 What do marketers do?
Customer in the center of a company’s operations and decision making process
--> generate customer insights
--> develop marketing strategy
Within organizations:
