Download Principles of Marketing

Principles of Marketing
Section 2
By: Ms. Eman Elfar
Marketing process
Exchange :is the act of obtaining a desired
object from someone by offering something in
return
The Marketing is
The process by which companies create value for
customers and build strong customer relationships in order
to capture value from customers in return
Markets are the set of all actual and potential buyers
of a product or service
Marketing management : is the art and science of
choosing target markets and building profitable
relationships with them.
Designing a Customer-Driven
Marketing Strategy
Frist step in designing a customer-driven marketing
strategy is selecting customers to serve
There are tow basic decisions in this step:
Market segmentation refers to dividing the markets
into segments of customers
Target marketing refers to which segments the
company will serve.
successful marketing management should focus
on
both
customer
management
and
demand
management.
Customer management :is the process of selecting
customers that can be served well and profitably
Demand management: is the process that aim to
Finding and increasing demand, and also changing or
reducing demand such as in De-marketing
De-marketing:
is
marketing
to
reduce
demand
temporarily
or
permanently;
The aim of de-marketing is not to destroy demand
but to reduce or shift it.
Marketing Management Orientations
Production
concept
Product
concept
Selling
concept
Marketing
concept
Societal
concept
Selling concept
The idea that consumers will not buy enough of the
firm’s products unless it undertakes a large scale selling and
promotion effort.
The focus of selling concept is on selling activities and
promotion
Marketing concept
The idea of this concept is that achieving
organizational goals depends on knowing the needs and
wants of the target markets and delivering the desired
satisfactions better than competitors do.
Preparing an Integrated Marketing
Plan and Program
Marketing mix is the set of tools the firm uses to
implement its marketing strategy.
It includes:
• product,
• price,
• Promotion
• place
Building Customer Relationships
Customer relationship management:
The overall process of building and
maintaining profitable customer relationships by
delivering
satisfaction
superior
customer
value
and
________ is the act of obtaining a desired object
from someone by offering something in return.
1)
2)
3)
4)
5)
Exchange
Donation
Market offering
Valuation
Confiscation
Consumer research, product development,
communication, distribution, pricing, and
service are all core ________ activities.
1)
2)
3)
4)
5)
outsourcing
marketing
positioning
production
logistics
Which of the following statements is true of the
selling concept?
1) It follows the customer-centered sense-and-respond
philosophy.
2) It is typically practiced with unsought goods.
It takes an outside-in perspective.
3) It requires minimum promotion efforts.
4) It creates long-term, profitable customer relationships
Which of the following marketing orientations
holds
that
achieving
organizational
goals
depends on knowing the needs and wants of
target
markets
and
delivering
the
satisfactions better than competitors do?
1)
2)
3)
4)
5)
the selling concept
the production concept
the societal marketing concept
the marketing concept
the product concept
desired
Which of the following marketing strategies
should marketing managers focus on to manage
detailed information about individual customers
and carefully manage customer touchpoints to
maximize customer loyalty?
1)
2)
3)
4)
5)
customer divestment
partner relationship management
customer relationship management
customer-managed relationships
the societal marketing concept
True or false
1. Market segmentation is the process of seeking fewer
customers and reduced demand for profit maximization
only.
2. Fast Food, Inc. views marketing as the process of finding
and retaining profitable customers by providing them with
the food they want. Fast Food, Inc. practices societal
marketing.
3. Big company can serve all types of customer.
4. Marketing mix is a tool to achieve marketing strategy