Week #1 (Customer led&Market orientation& Customer Experience management)
Marketing is; A way to approach the market. In other words, we have to think about business
success and activities that may help the purchasing process.
Marketing changed from From transactions&product driven (market share) To relation &value
driven (share of wallet)
Share of wallet: means what is the percentage of given consumers’ wallet spent on your product.
Marketing system(before changes): suppliers(producer in India)-organization(Nike)-
distributors(stores)-consumers
Sustainable Competitive Advantage(SCA): the expected value of an o ering exceeds any other
alternative solutions all the time.
2 main marketing strategies:
1)Segmentation: dividing the target market into subgroups according to income, personal traits,
and purchasing power. For example, safari users can be a target group for apple products.
2) Value di erentiation: di erentiating the product from similar or competing items by identifying
the set of characteristics and bene ts that makes product or service o erings di er.
Example: PS4-XBOX-WII
Ps4: most professional and screen quality: targets relatively the richest group.
Xbox: a ordable: screen quality is low: targets 5-20 age group with less income.
Wii: Cheapest: target groups are families by o ering family games.
Article 1-2: Market orientation(Narver &Slater)
Market orientation is; being driven by customer wants. It is a
strategic focus on identifying consumer needs and desires in order to
de ne new products to be developed. The ability to generate and
use superior information about customers and competitors. has 3
components;
1)customer orientation
2)competitor orientation
3)Inter-functional orientation
Market orientation is one of the implementations of
Marketing(concept).
Measurement of Market Orientation
-New measure development
-Reliability
-Construct Validity
E ect on Pro tability
-Di erences btw commodity(corn)- Non-commodity markets
-Inclusion of control variable
Market orientation is easier in non-commodity markets because; Non-commodity products can
change quickly and it's easier to personalize them rather than commodity(selling corn) products.
Market orientation is more challenging for commodity businesses and requires more time to get
pro t.
2 types of Market orientation:
If it's asked by the consumer then
it's an expressed need like in the
NS train situation. (surveys)
The latent need is a problem that a
user or consumer doesn't realize
they have.(observations,
experiments)
So MO is not obsolete because
new ndings, paradigms are even
better at creating customer value
with more components.
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Marketing is; A way to approach the market. In other words, we have to think about business
success and activities that may help the purchasing process.
Marketing changed from From transactions&product driven (market share) To relation &value
driven (share of wallet)
Share of wallet: means what is the percentage of given consumers’ wallet spent on your product.
Marketing system(before changes): suppliers(producer in India)-organization(Nike)-
distributors(stores)-consumers
Sustainable Competitive Advantage(SCA): the expected value of an o ering exceeds any other
alternative solutions all the time.
2 main marketing strategies:
1)Segmentation: dividing the target market into subgroups according to income, personal traits,
and purchasing power. For example, safari users can be a target group for apple products.
2) Value di erentiation: di erentiating the product from similar or competing items by identifying
the set of characteristics and bene ts that makes product or service o erings di er.
Example: PS4-XBOX-WII
Ps4: most professional and screen quality: targets relatively the richest group.
Xbox: a ordable: screen quality is low: targets 5-20 age group with less income.
Wii: Cheapest: target groups are families by o ering family games.
Article 1-2: Market orientation(Narver &Slater)
Market orientation is; being driven by customer wants. It is a
strategic focus on identifying consumer needs and desires in order to
de ne new products to be developed. The ability to generate and
use superior information about customers and competitors. has 3
components;
1)customer orientation
2)competitor orientation
3)Inter-functional orientation
Market orientation is one of the implementations of
Marketing(concept).
Measurement of Market Orientation
-New measure development
-Reliability
-Construct Validity
E ect on Pro tability
-Di erences btw commodity(corn)- Non-commodity markets
-Inclusion of control variable
Market orientation is easier in non-commodity markets because; Non-commodity products can
change quickly and it's easier to personalize them rather than commodity(selling corn) products.
Market orientation is more challenging for commodity businesses and requires more time to get
pro t.
2 types of Market orientation:
If it's asked by the consumer then
it's an expressed need like in the
NS train situation. (surveys)
The latent need is a problem that a
user or consumer doesn't realize
they have.(observations,
experiments)
So MO is not obsolete because
new ndings, paradigms are even
better at creating customer value
with more components.
Page 1
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