Download Marketing Management - Southern Methodist University


1.
The art and science of choosing target
markets and building profitable
relationships with them.
Questions to ask:
What customers will we serve?
What is our target market?
2.
How can we best serve these customers?
What is our value proposition?
Demand
Management
Demarketing
Finding and increasing
demand, also changing or
reducing demand such as
in demarketing.
Temporarily or
permanently reducing the
number of customers or
shifting their demand.
Product
Price
Customer
Needs
Promotion
Distribution
Societal Marketing Concept
Marketing Concept
Selling Concept
Product Concept
Production Concept

The set of benefits
or values a
company promises
to deliver to
consumers to
satisfy their needs.
It cleans and freshens
like sunshine!

Customer’s
evaluation of the
difference between
all the benefits and
all the costs of a
marketing offer
relative to those of
competing offers.

Dependent on the
product’s
perceived
performance
relative to a buyer’s
expectations.

Customer Lifetime Value
› The entire stream of
purchases that the
customer would make
over a lifetime of
patronage.

Share of Customer
› The share a
company gets of the
customers
purchasing in their
product categories.
 Customer
equity is the
total combined
customer
lifetime values
of all of the
company’s
customers.
High
Butterflies
True Friends
Good fit between
company’s offerings and
customer’s needs; high
profit potential
Good fit between
company’s offerings and
customer’s needs; highest
profit potential
Profitability
Strangers
Low
Little fit between company’s
offerings and customer’s
needs; lowest profit
potential
Barnacles
Limited fit between
company’s offerings and
customer’s needs; low
profit potential
Short-term
customers
Projected loyalty
Long-term
customers
#1
Market Segmentation:
Divide the market into
segments of customers
Target Marketing:
Select the segment to
cultivate
#2
Rapid Globalization
Not-for-Profit
Marketing
Ethics & Social
Responsibility
New World of Marketing
Relationships