SAMENVATTING MARKETING
Primary goal -> understand and meet customer needs to create value
Marketing = a social & managerial process by which individuals & groups obtain what they need &
want through creating & exchanging products & value with others
In business context: to build & maintain profitable relationships with stakeholders
Marketing ≠ sales -> focus on what consumers want & perceive to - have good value
What does marketing apply to? (waarop van toepassing)
- Physical products (Cola, M&M, car, Iphone)
- Services (like banking, streaming, travel agencies, transportation, cloud storage)
- Retail (stores that sell goods to consumers, not to other businesses)
- Experiences (Pairi Daiza, Disneyland)
- Events (the Olympic games, festivals)
- Film, music & theatre (La La Land, K3 zoekt K3)
- Places (Antwerp, New York)
- Ideas (about safety)
- Charity & non-profit (de warmste week, WWF)
- People (Trump)
➔ Marketing applies anywhere “buyers” have a choice (to pretty much everything)
- customer: the person who purchases/pays for the product/service
- consumer: the user, the person who ultimately uses/consumes the product/service
consumers’ buying roles: role: description + marketing implications & applications (gevolgen &
toepassingen)
- initiator (initiatiefnemer): initiates idea -> Target initiators by emphasizing (benadrukken)
how a product addresses their needs
➔ recognizes the need & tells it to someone else, giving the idea to buy something
- influencer: influences decision (provides info) -> collaborate with influencers
- decider: ultimate buying decision -> Facilitate decision-making process
- buyer: actual purchase -> Ensure smooth purchasing process
- payer: pays -> Offer various payment methods
- user: consumes -> Provide user support, gather feedback
- gatekeeper: controls access of product information -> Communicate effectively with
gatekeepers
~ gatekeeper: iemand die beslist wie/ wat toegang krijgt tot een persoon, organisatie/ informatie
1
,= organization-wide generation of market intelligence pertaining to current & future customer
needs, dissemination of the intelligence across the
departments, & organization-wide responsiveness to it
- Organization-wide belief in delivering customer value
- Create products to meet existing and latent needs
➔ Putting the customer in the centre, every department should think about the customer
need
the 3 main components of market orientation: (gerichtheid)
- costumer orientation: customer -> centre, continuously track in
their needs & wants
- competitor orientation: important to be successful in a better
way than competition is doing, finding weaknesses
- interfunctional coordination: all departments should have
customer centric minds, what a customer needs
➔ customer centricity is also not trying to please all customers,
fulfilling need in a profitable way
Sales: Product push
- trends towards short-term satisfaction of customer needs; part of the value delivery
process as opposed to designing and development of customer value processes
- trends to lesser input into customer design of offering
- trends to low focus on stimulation of demand; more focused on meeting existing demand
Marketing: Product pull
- trends towards long-term satisfaction of customer needs
- trends to greater input into customer design of offering (co-creation)
- trends to high focus on stimulation of demand
Product push -> pushes product to customer
Product pull -> customer requests product
➔ even after purchase, value of your product, retain them, Satisfaction: all about expectation
keep them engaged -> become loyal customers, long-term management, try to put the
satisfaction
expectations high, do not
overpromise -> dissatisfied
Acquisition <-> retention
- acquisition (verwerving): acquire new customers
- retention (behouden): retain existing customers
- finding a new customer, costs 6x more than retention
Tip of the iceberg
➔ What consumers see is only a fraction of companies’ overall business strategies
➔ We see the final design, all the other things under water: costs, prizing strategy, market
research -> we don’t know that as customer
2
, ➔ Placing the customer at the center of a
company’s operations & decision-
making processes
- Generate customer insights
- Develop marketing strategy
Marketing within organizations:
- Marketing inherently puts customers
first
- Marketing should enhance a firm’s
relationships with its customers
- Marketing is present in all aspects of an organization since all departments play a role in
creating, delivering, & satisfying customers
- Marketers do not control all the marketing mix elements
- CEOs with a marketing background outperform CEOs from nearly all other backgrounds
when it comes to being socially responsible, inclusive, & having a strong strategy & long-
term vision
- They have a better overall reputation than business leaders from nearly all other areas
Exchange: The core of Marketing (kern)
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
➔ Exchange creates value, gives people more consumption choices or possibilities
3
, Exchange of value:
Value:
- Customer value = the consumer’s assessment (beoordeling) of the product’s overall
capacity to satisfy his/ her needs = Ratio between perceived benefits & costs (both
monetary & non-monetary)
- Perceived value/ subjective value = the worth something has in a person’s mind, not its
actual price or cost
➔ Value: what consumers expect -> there should be more benefits than sacrifices
Outcomes (resultaten) of creating customer value:
- Repeat purchases
- Positive word-of-mouth (brand ambassadorship) (mond tot mond reclame)
- Customer loyalty and retention
- Growing market share (marktaandeel)
- Growing share (aandeel) of customer
- Building customer equity (klantwaarde) (Combined lifetime value of all your customers)
➔ Cheaper to keep a customer than find new ones
alternative:
extension from 4 -> 7 P’s for services:
+ physical evidence + process + people
The ‘new’ P: personalization: specific needs, via e-mail, social media (ads), Fe: Starbucks: name
on cup, Netflix: helping people to find a movie
Context marketing:
- Delivering marketing messages to customers at the right moment based on their situation
& behavior
- Key elements:
4
Primary goal -> understand and meet customer needs to create value
Marketing = a social & managerial process by which individuals & groups obtain what they need &
want through creating & exchanging products & value with others
In business context: to build & maintain profitable relationships with stakeholders
Marketing ≠ sales -> focus on what consumers want & perceive to - have good value
What does marketing apply to? (waarop van toepassing)
- Physical products (Cola, M&M, car, Iphone)
- Services (like banking, streaming, travel agencies, transportation, cloud storage)
- Retail (stores that sell goods to consumers, not to other businesses)
- Experiences (Pairi Daiza, Disneyland)
- Events (the Olympic games, festivals)
- Film, music & theatre (La La Land, K3 zoekt K3)
- Places (Antwerp, New York)
- Ideas (about safety)
- Charity & non-profit (de warmste week, WWF)
- People (Trump)
➔ Marketing applies anywhere “buyers” have a choice (to pretty much everything)
- customer: the person who purchases/pays for the product/service
- consumer: the user, the person who ultimately uses/consumes the product/service
consumers’ buying roles: role: description + marketing implications & applications (gevolgen &
toepassingen)
- initiator (initiatiefnemer): initiates idea -> Target initiators by emphasizing (benadrukken)
how a product addresses their needs
➔ recognizes the need & tells it to someone else, giving the idea to buy something
- influencer: influences decision (provides info) -> collaborate with influencers
- decider: ultimate buying decision -> Facilitate decision-making process
- buyer: actual purchase -> Ensure smooth purchasing process
- payer: pays -> Offer various payment methods
- user: consumes -> Provide user support, gather feedback
- gatekeeper: controls access of product information -> Communicate effectively with
gatekeepers
~ gatekeeper: iemand die beslist wie/ wat toegang krijgt tot een persoon, organisatie/ informatie
1
,= organization-wide generation of market intelligence pertaining to current & future customer
needs, dissemination of the intelligence across the
departments, & organization-wide responsiveness to it
- Organization-wide belief in delivering customer value
- Create products to meet existing and latent needs
➔ Putting the customer in the centre, every department should think about the customer
need
the 3 main components of market orientation: (gerichtheid)
- costumer orientation: customer -> centre, continuously track in
their needs & wants
- competitor orientation: important to be successful in a better
way than competition is doing, finding weaknesses
- interfunctional coordination: all departments should have
customer centric minds, what a customer needs
➔ customer centricity is also not trying to please all customers,
fulfilling need in a profitable way
Sales: Product push
- trends towards short-term satisfaction of customer needs; part of the value delivery
process as opposed to designing and development of customer value processes
- trends to lesser input into customer design of offering
- trends to low focus on stimulation of demand; more focused on meeting existing demand
Marketing: Product pull
- trends towards long-term satisfaction of customer needs
- trends to greater input into customer design of offering (co-creation)
- trends to high focus on stimulation of demand
Product push -> pushes product to customer
Product pull -> customer requests product
➔ even after purchase, value of your product, retain them, Satisfaction: all about expectation
keep them engaged -> become loyal customers, long-term management, try to put the
satisfaction
expectations high, do not
overpromise -> dissatisfied
Acquisition <-> retention
- acquisition (verwerving): acquire new customers
- retention (behouden): retain existing customers
- finding a new customer, costs 6x more than retention
Tip of the iceberg
➔ What consumers see is only a fraction of companies’ overall business strategies
➔ We see the final design, all the other things under water: costs, prizing strategy, market
research -> we don’t know that as customer
2
, ➔ Placing the customer at the center of a
company’s operations & decision-
making processes
- Generate customer insights
- Develop marketing strategy
Marketing within organizations:
- Marketing inherently puts customers
first
- Marketing should enhance a firm’s
relationships with its customers
- Marketing is present in all aspects of an organization since all departments play a role in
creating, delivering, & satisfying customers
- Marketers do not control all the marketing mix elements
- CEOs with a marketing background outperform CEOs from nearly all other backgrounds
when it comes to being socially responsible, inclusive, & having a strong strategy & long-
term vision
- They have a better overall reputation than business leaders from nearly all other areas
Exchange: The core of Marketing (kern)
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
➔ Exchange creates value, gives people more consumption choices or possibilities
3
, Exchange of value:
Value:
- Customer value = the consumer’s assessment (beoordeling) of the product’s overall
capacity to satisfy his/ her needs = Ratio between perceived benefits & costs (both
monetary & non-monetary)
- Perceived value/ subjective value = the worth something has in a person’s mind, not its
actual price or cost
➔ Value: what consumers expect -> there should be more benefits than sacrifices
Outcomes (resultaten) of creating customer value:
- Repeat purchases
- Positive word-of-mouth (brand ambassadorship) (mond tot mond reclame)
- Customer loyalty and retention
- Growing market share (marktaandeel)
- Growing share (aandeel) of customer
- Building customer equity (klantwaarde) (Combined lifetime value of all your customers)
➔ Cheaper to keep a customer than find new ones
alternative:
extension from 4 -> 7 P’s for services:
+ physical evidence + process + people
The ‘new’ P: personalization: specific needs, via e-mail, social media (ads), Fe: Starbucks: name
on cup, Netflix: helping people to find a movie
Context marketing:
- Delivering marketing messages to customers at the right moment based on their situation
& behavior
- Key elements:
4
