Marketing
Contents
Chapter 1 creating customer value and engagement............................................................................3
What is marketing?................................................................................................................................3
Marketing defined............................................................................................................................3
The marketing process......................................................................................................................3
Understanding the marketplace and customer’s needs........................................................................3
Customer needs, wants, and demands.............................................................................................3
Market offerings—products, services, and experiences...................................................................4
Customer value and satisfaction.......................................................................................................4
Exchanges and relationships.............................................................................................................4
Markets.............................................................................................................................................4
Designing a customer value-driven marketing strategy and plan..........................................................4
Customer value-driven marketing strategy.......................................................................................4
Preparing an integrated marketing plan and program......................................................................5
Managing customer relationships and capturing customer value.........................................................5
Capturing value from customers.......................................................................................................7
The changing marketing landscape........................................................................................................7
The digital age: online, mobile, and social media marketing............................................................7
The changing economic environment...............................................................................................7
The growth of not-for-profit marketing.............................................................................................7
Rapid globalization............................................................................................................................7
sustainable marketing-the call for more environmental and social responsibility............................7
Chapter 4 retailing and wholesaling......................................................................................................8
Chapter 5: Engaging consumers and communicating customer value.................................................12
The promotion mix..............................................................................................................................12
Integrated marketing communications...............................................................................................12
The new marketing communication model....................................................................................12
The need for integrated marketing communications.....................................................................13
Developing effective marketing communication.................................................................................13
A view of the communication process............................................................................................13
Steps in developing effective marketing communication...............................................................13
Designing a message.......................................................................................................................13
Choosing communication channels and media...............................................................................14
, Selecting the message source.........................................................................................................14
Collecting feedback.........................................................................................................................14
Setting the total promotion budget and mix.......................................................................................14
Setting the total promotion budget................................................................................................14
Shaping the overall promotion mix......................................................................................................14
The nature of each promotional tool..............................................................................................14
Advertising..................................................................................................................................14
Personal selling...........................................................................................................................14
Sales promotion..........................................................................................................................14
Public relations...........................................................................................................................14
Direct and digital marketing........................................................................................................14
Promotion mix strategies................................................................................................................15
Integrating the promotion mix............................................................................................................15
Socially responsible marketing communication...................................................................................15
Advertising and sales promotion....................................................................................................15
Personal selling...............................................................................................................................15
, Chapter 1 creating customer value
and engagement
What is marketing?
Marketing, more than any other business function, deals with customers. The goal of marketing is to
attract new customers by promising superior value and to keep and grow the current customers by
delivering value and satisfaction.
Marketing defined
Marketing is the process by which companies engage customers, build customer relationships, and
create customer value in order to capture value from customers in return.
The marketing process
Understand the Design a Construct an Engage customers,
marketplace and customer value- integrated marketing build profitable
customer needs driven marketing program that delivers relationships, and
and wants strategy superior value create customer
delight
Capture value from customers to
create profits and customer equity
Understanding the marketplace and customer’s needs
There are five core customer and marketplace concepts :
1. Needs, wants, and demands
2. Market offerings
3. Value and satisfaction
4. Exchanges and relationships
5. Markets
Customer needs, wants, and demands
The most basic concept underlying marketing is that of human needs.
Human needs are states of felt deprivation, they include; basic physical needs for food, clothing,
warmth, and safety; social needs for belonging and affection; and individual needs for knowledge
and self-expression.
Wants are the form human needs take as they are shaped by culture and individual personality. For
example an American needs food and wants a big mac.
Demands are human wants backed by buying power.
Contents
Chapter 1 creating customer value and engagement............................................................................3
What is marketing?................................................................................................................................3
Marketing defined............................................................................................................................3
The marketing process......................................................................................................................3
Understanding the marketplace and customer’s needs........................................................................3
Customer needs, wants, and demands.............................................................................................3
Market offerings—products, services, and experiences...................................................................4
Customer value and satisfaction.......................................................................................................4
Exchanges and relationships.............................................................................................................4
Markets.............................................................................................................................................4
Designing a customer value-driven marketing strategy and plan..........................................................4
Customer value-driven marketing strategy.......................................................................................4
Preparing an integrated marketing plan and program......................................................................5
Managing customer relationships and capturing customer value.........................................................5
Capturing value from customers.......................................................................................................7
The changing marketing landscape........................................................................................................7
The digital age: online, mobile, and social media marketing............................................................7
The changing economic environment...............................................................................................7
The growth of not-for-profit marketing.............................................................................................7
Rapid globalization............................................................................................................................7
sustainable marketing-the call for more environmental and social responsibility............................7
Chapter 4 retailing and wholesaling......................................................................................................8
Chapter 5: Engaging consumers and communicating customer value.................................................12
The promotion mix..............................................................................................................................12
Integrated marketing communications...............................................................................................12
The new marketing communication model....................................................................................12
The need for integrated marketing communications.....................................................................13
Developing effective marketing communication.................................................................................13
A view of the communication process............................................................................................13
Steps in developing effective marketing communication...............................................................13
Designing a message.......................................................................................................................13
Choosing communication channels and media...............................................................................14
, Selecting the message source.........................................................................................................14
Collecting feedback.........................................................................................................................14
Setting the total promotion budget and mix.......................................................................................14
Setting the total promotion budget................................................................................................14
Shaping the overall promotion mix......................................................................................................14
The nature of each promotional tool..............................................................................................14
Advertising..................................................................................................................................14
Personal selling...........................................................................................................................14
Sales promotion..........................................................................................................................14
Public relations...........................................................................................................................14
Direct and digital marketing........................................................................................................14
Promotion mix strategies................................................................................................................15
Integrating the promotion mix............................................................................................................15
Socially responsible marketing communication...................................................................................15
Advertising and sales promotion....................................................................................................15
Personal selling...............................................................................................................................15
, Chapter 1 creating customer value
and engagement
What is marketing?
Marketing, more than any other business function, deals with customers. The goal of marketing is to
attract new customers by promising superior value and to keep and grow the current customers by
delivering value and satisfaction.
Marketing defined
Marketing is the process by which companies engage customers, build customer relationships, and
create customer value in order to capture value from customers in return.
The marketing process
Understand the Design a Construct an Engage customers,
marketplace and customer value- integrated marketing build profitable
customer needs driven marketing program that delivers relationships, and
and wants strategy superior value create customer
delight
Capture value from customers to
create profits and customer equity
Understanding the marketplace and customer’s needs
There are five core customer and marketplace concepts :
1. Needs, wants, and demands
2. Market offerings
3. Value and satisfaction
4. Exchanges and relationships
5. Markets
Customer needs, wants, and demands
The most basic concept underlying marketing is that of human needs.
Human needs are states of felt deprivation, they include; basic physical needs for food, clothing,
warmth, and safety; social needs for belonging and affection; and individual needs for knowledge
and self-expression.
Wants are the form human needs take as they are shaped by culture and individual personality. For
example an American needs food and wants a big mac.
Demands are human wants backed by buying power.
