Marketing Fundamentals Summary
2022-2023
Chapter 1: Creating customer value & Engagement ..................................................... 7
Understanding the marketplace and customer needs ................................................ 7
Customer needs, wants ............................................................................................... 7
Market Offerings ........................................................................................................... 8
Customer value and satisfaction ................................................................................ 8
Exchanges and relationships ...................................................................................... 8
Markets: ........................................................................................................................ 8
Designing a customer value-driven strategy ................................................................ 9
Marketing Management orientations: ....................................................................... 9
Selling vs Marketing concepts .................................................................................... 9
Societal Marketing ......................................................................................................10
Preparing an Integrated Marketing Plan and Program .............................................. 10
Engaging Customers and Managing Customer Relationships .................................. 10
Relationship Building Blocks........................................................................................10
Capture Value from Customers .................................................................................... 11
Building the right relationship with the right customer .............................................11
The Changing Marketing Landscape .......................................................................... 12
The Changing Marketing Landscape .......................................................................12
So, what is Marketing? Pulling it All Together .............................................................. 12
Chapter 2: Company and marketing strategy ...............................................................13
Company-Wide Strategic Planning ............................................................................. 13
Strategic planning ......................................................................................................13
Product oriented business definition vs Market oriented business ..........................13
Setting Company Objectives and Goals ..................................................................13
Designing The Business Portfolio ................................................................................... 14
Market Share ...............................................................................................................14
The Boston Consultancy Group (BCG) Growth-Share Matrix ..................................15
Substantiate Commercial Budgets............................................................................15
Problems with Matrix Approaches .............................................................................15
Developing strategies for Growth and Downsizing ..................................................15
Developing strategies for Growth and Downsizing ..................................................16
Downsizing ...................................................................................................................16
Partnering to built customer relations .......................................................................... 16
Marketing Strategy and The Marketing Mix ................................................................ 17
Rania El Ghalbzouri 1
, Marketing Fundamentals Summary
2022-2023
Customer value driven marketing strategy ..............................................................17
Developing an integrated Marketing Mix.................................................................17
Managing the Marketing effort .................................................................................18
Market Analysis – SWOT ..............................................................................................18
Marketing Planning & Implementation .....................................................................19
Marketing Department Organization ........................................................................19
Measuring and Managing Marketing Return on Investment (Marketing ROI) ......19
Chapter 3: Analysing the marketing environment ..........................................................20
The Company’s Microenvironment .............................................................................. 20
The Company..............................................................................................................20
Suppliers: ......................................................................................................................20
Marketing Intermediaries............................................................................................20
Competitors .................................................................................................................21
Publics ..........................................................................................................................21
Customers ....................................................................................................................21
The Demographic Environment .................................................................................... 21
Demographic trends: .................................................................................................21
Challenges of serving different Generations ............................................................21
Demographic environment .......................................................................................22
The Economic Environment .......................................................................................... 22
Income distribution .....................................................................................................23
Poverty Alleviation ......................................................................................................23
The Natural Environment ............................................................................................... 24
The Technological Environment ................................................................................... 24
The Political & Social Environment ............................................................................... 24
The Cultural Environment .............................................................................................. 24
Shifts in Secondary Cultural Values............................................................................25
Responding to the Marketing Environment ................................................................. 25
Three different views: ..................................................................................................25
Chapter 4: Managing marketing information to gain consumer insights .....................26
Marketing Information and Customer Insights ............................................................ 26
Marketing Information and Today’s “Big Data” .......................................................26
Managing Marketing Information .............................................................................26
Managing Marketing Information .............................................................................26
Assessing Marketing Information Needs ..................................................................... 27
(Digital) Marketing Dashboard ..................................................................................27
Rania El Ghalbzouri 2
, Marketing Fundamentals Summary
2022-2023
Developing Marketing Information ...........................................................................28
Defining the Problem and Research Objectives ......................................................... 28
Data collection ...........................................................................................................29
Gathering Secondary Data .......................................................................................29
Planning Primary Data Collection .............................................................................29
Research Approaches................................................................................................30
Contact Methods .......................................................................................................30
Possible Reliability & Validity situations in measurement .........................................30
Contact Methods ........................................................................................................... 31
Focus Group – Personal Contact Method ................................................................31
Online Contact Methods ...........................................................................................31
Online Focus Groups...................................................................................................31
Sampling Plan ..............................................................................................................31
Sampling Size ...............................................................................................................31
Sampling procedure ...................................................................................................32
Research Instruments .................................................................................................... 32
Mechanical Research Instruments ............................................................................32
Heat Map Analytics in retail .......................................................................................32
In-store shopper flow analytics ..................................................................................32
Marketing Research ...................................................................................................... 33
Interpreting and Reporting Findings ..........................................................................33
Customer Relationship Management (CRM) ...........................................................33
CRM Touchpoints ........................................................................................................33
Analyzing and Using Marketing Information ............................................................... 33
Distributing and Using Marketing Information ...........................................................33
Other Marketing Information Considerations ...........................................................34
Global Marketing research ........................................................................................34
Marketing Research based on Web 2.0 ...................................................................34
Public Policy and Ethics ................................................................................................ 34
Chapter 5: consumer markets and buying behaviour ...................................................35
Model of Consumer Behavior ....................................................................................... 35
Model of Consumer Behavior ....................................................................................35
Characteristics Affecting Consumer Behavior .........................................................35
Total market strategy ..................................................................................................36
Subcultures: .................................................................................................................36
Social Factors ..............................................................................................................36
Rania El Ghalbzouri 3
, Marketing Fundamentals Summary
2022-2023
Groups & Social Networks ..........................................................................................36
Influencers ...................................................................................................................36
Social Factors ..............................................................................................................37
Personal Factors ..........................................................................................................37
Brand Personality ........................................................................................................... 37
7 human drivers ...........................................................................................................38
Brand Personality & Positioning ..................................................................................39
Psychological Factors .................................................................................................39
Types of Buying Decision Behavior .............................................................................. 39
The Buyer Decision Process ........................................................................................40
The Buyer Decision Process for New Products Individual Differences in
Innovativeness ............................................................................................................... 41
Influence of Product Characteristics on Rate of Adoption .....................................42
Example pro/cons of characteristics (electric vehicles) .........................................43
Example of a slow adoption rate ..............................................................................43
Chapter 7: Customer Value driven marketing strategy - Creating value for target
customers............................................................................................................................44
Designing a customer driven marketing strategy ...................................................... 44
Market Segmentation.................................................................................................... 45
Segmentation Consumer Markets .............................................................................45
Segmenting Consumer Markets ................................................................................46
Requirements for Effective Segmentation ................................................................46
Market Targeting ........................................................................................................... 46
Selecting Target marketing segments .......................................................................46
Selecting Target Market Segments............................................................................48
Differentiation and Positioning ...................................................................................... 48
Choosing a Differentiation and Positioning Strategy ...............................................49
Communicating and Delivering the Chosen Position..............................................49
Chapter 8: Products, services, and brands – Building customer value .........................50
What is a Product ........................................................................................................... 50
Products, Services, and Experiences .........................................................................50
What is value proposition? .........................................................................................50
Scale of elemental dominance.................................................................................50
Levels of Products and Services – What is the buyer really buying .........................51
Organizations, Persons, Places, and Ideas................................................................52
Product and service decisions ...................................................................................52
Rania El Ghalbzouri 4
2022-2023
Chapter 1: Creating customer value & Engagement ..................................................... 7
Understanding the marketplace and customer needs ................................................ 7
Customer needs, wants ............................................................................................... 7
Market Offerings ........................................................................................................... 8
Customer value and satisfaction ................................................................................ 8
Exchanges and relationships ...................................................................................... 8
Markets: ........................................................................................................................ 8
Designing a customer value-driven strategy ................................................................ 9
Marketing Management orientations: ....................................................................... 9
Selling vs Marketing concepts .................................................................................... 9
Societal Marketing ......................................................................................................10
Preparing an Integrated Marketing Plan and Program .............................................. 10
Engaging Customers and Managing Customer Relationships .................................. 10
Relationship Building Blocks........................................................................................10
Capture Value from Customers .................................................................................... 11
Building the right relationship with the right customer .............................................11
The Changing Marketing Landscape .......................................................................... 12
The Changing Marketing Landscape .......................................................................12
So, what is Marketing? Pulling it All Together .............................................................. 12
Chapter 2: Company and marketing strategy ...............................................................13
Company-Wide Strategic Planning ............................................................................. 13
Strategic planning ......................................................................................................13
Product oriented business definition vs Market oriented business ..........................13
Setting Company Objectives and Goals ..................................................................13
Designing The Business Portfolio ................................................................................... 14
Market Share ...............................................................................................................14
The Boston Consultancy Group (BCG) Growth-Share Matrix ..................................15
Substantiate Commercial Budgets............................................................................15
Problems with Matrix Approaches .............................................................................15
Developing strategies for Growth and Downsizing ..................................................15
Developing strategies for Growth and Downsizing ..................................................16
Downsizing ...................................................................................................................16
Partnering to built customer relations .......................................................................... 16
Marketing Strategy and The Marketing Mix ................................................................ 17
Rania El Ghalbzouri 1
, Marketing Fundamentals Summary
2022-2023
Customer value driven marketing strategy ..............................................................17
Developing an integrated Marketing Mix.................................................................17
Managing the Marketing effort .................................................................................18
Market Analysis – SWOT ..............................................................................................18
Marketing Planning & Implementation .....................................................................19
Marketing Department Organization ........................................................................19
Measuring and Managing Marketing Return on Investment (Marketing ROI) ......19
Chapter 3: Analysing the marketing environment ..........................................................20
The Company’s Microenvironment .............................................................................. 20
The Company..............................................................................................................20
Suppliers: ......................................................................................................................20
Marketing Intermediaries............................................................................................20
Competitors .................................................................................................................21
Publics ..........................................................................................................................21
Customers ....................................................................................................................21
The Demographic Environment .................................................................................... 21
Demographic trends: .................................................................................................21
Challenges of serving different Generations ............................................................21
Demographic environment .......................................................................................22
The Economic Environment .......................................................................................... 22
Income distribution .....................................................................................................23
Poverty Alleviation ......................................................................................................23
The Natural Environment ............................................................................................... 24
The Technological Environment ................................................................................... 24
The Political & Social Environment ............................................................................... 24
The Cultural Environment .............................................................................................. 24
Shifts in Secondary Cultural Values............................................................................25
Responding to the Marketing Environment ................................................................. 25
Three different views: ..................................................................................................25
Chapter 4: Managing marketing information to gain consumer insights .....................26
Marketing Information and Customer Insights ............................................................ 26
Marketing Information and Today’s “Big Data” .......................................................26
Managing Marketing Information .............................................................................26
Managing Marketing Information .............................................................................26
Assessing Marketing Information Needs ..................................................................... 27
(Digital) Marketing Dashboard ..................................................................................27
Rania El Ghalbzouri 2
, Marketing Fundamentals Summary
2022-2023
Developing Marketing Information ...........................................................................28
Defining the Problem and Research Objectives ......................................................... 28
Data collection ...........................................................................................................29
Gathering Secondary Data .......................................................................................29
Planning Primary Data Collection .............................................................................29
Research Approaches................................................................................................30
Contact Methods .......................................................................................................30
Possible Reliability & Validity situations in measurement .........................................30
Contact Methods ........................................................................................................... 31
Focus Group – Personal Contact Method ................................................................31
Online Contact Methods ...........................................................................................31
Online Focus Groups...................................................................................................31
Sampling Plan ..............................................................................................................31
Sampling Size ...............................................................................................................31
Sampling procedure ...................................................................................................32
Research Instruments .................................................................................................... 32
Mechanical Research Instruments ............................................................................32
Heat Map Analytics in retail .......................................................................................32
In-store shopper flow analytics ..................................................................................32
Marketing Research ...................................................................................................... 33
Interpreting and Reporting Findings ..........................................................................33
Customer Relationship Management (CRM) ...........................................................33
CRM Touchpoints ........................................................................................................33
Analyzing and Using Marketing Information ............................................................... 33
Distributing and Using Marketing Information ...........................................................33
Other Marketing Information Considerations ...........................................................34
Global Marketing research ........................................................................................34
Marketing Research based on Web 2.0 ...................................................................34
Public Policy and Ethics ................................................................................................ 34
Chapter 5: consumer markets and buying behaviour ...................................................35
Model of Consumer Behavior ....................................................................................... 35
Model of Consumer Behavior ....................................................................................35
Characteristics Affecting Consumer Behavior .........................................................35
Total market strategy ..................................................................................................36
Subcultures: .................................................................................................................36
Social Factors ..............................................................................................................36
Rania El Ghalbzouri 3
, Marketing Fundamentals Summary
2022-2023
Groups & Social Networks ..........................................................................................36
Influencers ...................................................................................................................36
Social Factors ..............................................................................................................37
Personal Factors ..........................................................................................................37
Brand Personality ........................................................................................................... 37
7 human drivers ...........................................................................................................38
Brand Personality & Positioning ..................................................................................39
Psychological Factors .................................................................................................39
Types of Buying Decision Behavior .............................................................................. 39
The Buyer Decision Process ........................................................................................40
The Buyer Decision Process for New Products Individual Differences in
Innovativeness ............................................................................................................... 41
Influence of Product Characteristics on Rate of Adoption .....................................42
Example pro/cons of characteristics (electric vehicles) .........................................43
Example of a slow adoption rate ..............................................................................43
Chapter 7: Customer Value driven marketing strategy - Creating value for target
customers............................................................................................................................44
Designing a customer driven marketing strategy ...................................................... 44
Market Segmentation.................................................................................................... 45
Segmentation Consumer Markets .............................................................................45
Segmenting Consumer Markets ................................................................................46
Requirements for Effective Segmentation ................................................................46
Market Targeting ........................................................................................................... 46
Selecting Target marketing segments .......................................................................46
Selecting Target Market Segments............................................................................48
Differentiation and Positioning ...................................................................................... 48
Choosing a Differentiation and Positioning Strategy ...............................................49
Communicating and Delivering the Chosen Position..............................................49
Chapter 8: Products, services, and brands – Building customer value .........................50
What is a Product ........................................................................................................... 50
Products, Services, and Experiences .........................................................................50
What is value proposition? .........................................................................................50
Scale of elemental dominance.................................................................................50
Levels of Products and Services – What is the buyer really buying .........................51
Organizations, Persons, Places, and Ideas................................................................52
Product and service decisions ...................................................................................52
Rania El Ghalbzouri 4
