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CHAPTER CREATING CUSTOMER RELATIONSHIPS AND VALUE THROUGH MARKETING Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-1 AFTER READING THIS CHAPTER YOU SHOULD BE ABLE TO: 1. Define marketing and identify the requirements for marketing to occur. 2. Explain how marketing discovers and satisfies consumer needs. 3. Distinguish between marketing mix elements and environmental forces. Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-2 AFTER READING THIS CHAPTER YOU SHOULD BE ABLE TO: 4. Explain how organizations build strong relationships and customer value through marketing. 5. Describe how today’s customer era differs from prior eras oriented to production and selling. Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-3 A MARKETING AND PRODUCT PUZZLE: HOW DO COLLEGE STUDENTS STUDY? • The Legend: The Product Nobody Seemed to Want Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-4 A MARKETING AND PRODUCT PUZZLE: HOW DO COLLEGE STUDENTS STUDY? • Discovering Student Studying Needs + 3M Post-it® Notes or Post-it® Flags = Felt Tip Highlighters 3M product that will combine Post-it® Notes or Post-it® Flags and Highlighters Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-5 A MARKETING AND PRODUCT PUZZLE: HOW DO COLLEGE STUDENTS STUDY? • Satisfying Student Studying Needs • 3M’s Technology, Marketing, and You Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-6 The Office Market Segment How can 3M reach this segment with the Post-it® Flag Highlighter? Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-7 3M Post-it® Flag Highlighter How do college students study? Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-8 FIGURE 1-1 The see-if-you’re-really-amarketing-expert test 1. True 3. True 2. (c) 30% 4. (c) plastic bottles Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-9 WHAT IS MARKETING? • Marketing: Using Exchanges to Satisfy Needs Marketing Exchange • The Diverse Forces Influencing Marketing Activities Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-10 FIGURE 1-2 An organization’s marketing department relates to many people, groups, and forces Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-11 Concept Check 1. What is marketing? A: Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-12 Concept Check discovering 2. Marketing focuses on __________ and ________ satisfying consumer needs. Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-13 HOW MARKETING DISCOVERS AND SATISFIES CONSUMER NEEDS • Discovering Consumer Needs The Challenge of Meeting Consumer Needs With New Products • “Focus on the consumer benefit” • “Learn from the past” Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-14 Dr. Care Vanilla-Mint Aerosol Toothpaste What “benefits” and what “showstoppers”? Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-15 Hot Pockets Subs Microwaveable Snacks What “benefits” and what “showstoppers”? Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-16 Scooba Robotic Floor Washer What “benefits” and what “showstoppers”? Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-17 Coca Cola C2 What “benefits” and what “showstoppers”? Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-18 HOW MARKETING DISCOVERS AND SATISFIES CONSUMER NEEDS • Discovering Consumer Needs Consumer Needs and Consumer Wants • Need • Want What a Market Is Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-19 FIGURE 1-3 Marketing’s first task: discovering consumer needs Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-20 HOW MARKETING DISCOVERS AND SATISFIES CONSUMER NEEDS • Satisfying Consumer Needs Target Market The Four P’s: Controllable Marketing Mix Factors • Product • Price • Promotion • Place The Uncontrollable, Environmental Forces • Social • Economic • Competitive • Regulatory Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. • Technological Slide 1-21 FIGURE 1-A Summary of factors that affect an organization’s marketing program Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-22 THE MARKETING PROGRAM: HOW CUSTOMER RELATIONSHIPS ARE BUILT • Customer Value and Customer Relationships Best Price Best Product Best Service Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-23 Costco, Starbucks, and Lands’ End What customer value strategy? Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-24 THE MARKETING PROGRAM: HOW CUSTOMER RELATIONSHIPS ARE BUILT • Relationship Marketing and the Marketing Program Relationship Marketing: Easy to Understand, Hard to Do The Marketing Program Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-25 FIGURE 1-4 Marketing’s second task: satisfying consumer needs Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-26 THE MARKETING PROGRAM: HOW CUSTOMER RELATIONSHIPS ARE BUILT • A 3M Product and Marketing Program to Help Students Study Moving from Ideas to a Marketable Highlighter Product Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-27 THE MARKETING PROGRAM: HOW CUSTOMER RELATIONSHIPS ARE BUILT • A 3M Product and Marketing Program to Help Students Study Extending the Product Line A Marketing Program for the Post-it® Flag Highlighter and Pen Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-28 FIGURE 1-5 Marketing programs for two new 3M Post-it® brand products targeted at two distinctly different customer segments: college students and office workers Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-29 Concept Check 1. An organization can’t satisfy the needs of all consumers, so it must focus on one or more subgroups, target markets which are its ____________. Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-30 Concept Check 2. What are the four marketing mix elements that make up the organization’s marketing program? A: product, price, promotion, place Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-31 Concept Check 3. What are environmental forces? A: Environmental forces are those that the organization’s marketing department can’t control. These include social, economic, technological, competitive, and regulatory forces. Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-32 HOW MARKETING BECAME SO IMPORTANT • Evolution of the Market Orientation Production Era Sales Era Marketing Concept Era Customer Era • Market Orientation • Customer Relationship Management (CRM) Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-33 FIGURE 1-B Four different orientations in the history of American business Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-34 HOW MARKETING BECAME SO IMPORTANT • Ethics and Social Responsibility: Balancing Interests Ethics Social Responsibility • Societal Marketing Concept Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-35 HOW MARKETING BECAME SO IMPORTANT • The Breadth and Depth of Marketing Who Markets? What Is Marketed? • Goods • Services • Ideas Who Buys and Uses What Is Marketed? • Ultimate Consumers • Organizational Buyers Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-36 Arizona Highways Who markets and what is marketed? Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-37 HOW MARKETING BECAME SO IMPORTANT • The Breadth and Depth of Marketing Who Benefits? How Do Consumers Benefit? • Utility Form Utility Time Utility Place Utility Possession Utility Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-38 Concept Check 1. What are the two key characteristics of the marketing concept? A: (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization’s goals. Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-39 Concept Check 2. What is the difference between goods and services? A: Goods are physical objects whereas services are complex intangible items, such as legal advice, a college education, or airline travel. Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-40 GOING ONLINE YOUR PERSONAL MECHANIZED “TRANSPORTER” Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-41 Going Online 1. What do you see as the advantages and disadvantages of the Segway HT? Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-42 Going Online 2. For businesses, what applications could the Segway HT be used for? Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-43 Going Online 3. Why would consumers want to buy a Segway HT? Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-44 VIDEO CASE 1 ROLLERBLADE: BENEFITS BEYOND EXPECTATIONS Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-45 VIDEO CASE 1 Rollerblade Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-46 VIDEO CASE 1 Rollerblade 1. What trends in the environmental forces (social, economic, technological, competitive, and regulatory) (a) work for and (b) work against Rollerblade’s potential growth in the 21st century? Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-47 VIDEO CASE 1 Rollerblade 2. Compare the likely marketing goals for Rollerblade (a) in 1986 when Rollerblade was launched and (b) today? Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-48 VIDEO CASE 1 Rollerblade 3. What kind of focused communication and promotion actions might Rollerblade take to reach the (a) Fitness/Recreation and (b) Junior market segments? For some starting ideas, visit rollerblade.com. Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-49 VIDEO CASE 1 Rollerblade 4. In searching for global markets to enter, (a) what are some criteria that Rollerblade should use to select countries to enter, and (b) what three or four countries meet these criteria best and are the most likely candidates? Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-50 SUPPLEMENTAL LECTURE NOTE 1-1 THE MARKETING CHALLENGES FACING ROLLERBLADE, INC. Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-51 FIGURE 1-C Number of in-line skaters in the United States Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-52 Rollerblade Print ad from the Early 1990s What was Rollerblade’s focus? Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-53 Rollerblade Print ad from the Early 2000s What was Rollerblade’s focus? Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-54 IN-CLASS ACTIVITY 1-1 DESIGNING A CANDY BAR Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-55 Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-56 IN-CLASS ACTIVITY 1-2 WHAT MAKES A BETTER MOUSETRAP? Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-57 A Victorious Mouse If a man (woman)…makes a better mousetrap, the world will beat a path to his (her) door.” Ralph Waldo Emerson Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-58 Victor® Metal Bait Pedal and Live Catch Mousetraps Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-59 Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-60 Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-61 IN-CLASS ACTIVITY 1-3 DEVELOPING A MARKETING PROGRAM FOR ROLLERBLADE Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-62 Rollerblade 2006 Consumer Brochure Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-63 Rollerblade’s Crossfire 4D/Activa 4D Skates That Target the Fitness Segment Crossfire 4D Activa 4D Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-64 Rollerblade’s Spiritblade Skate That Targets the Recreation Segment Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-65 Rollerblade’s Micro TFS Skate That Targets the Junior Segment Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-66 Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-67 Marketing AMA Definition of Marketing Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-68 Exchange Exchange is the trade of things of value between buyer and seller so that each is better off after the trade. Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-69 Market A market consists of people with both the desire and ability to buy a specific product. Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-70 Target Market The target market consists of one or more specific groups of potential customers toward which an organization directs its marketing program. Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-71 Marketing Mix The marketing mix consists of the marketing manager’s controllable factors—product, price, promotion, and place (the 4Ps)—that can be used to solve a marketing problem. Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-72 Environmental Forces Environmental forces are the uncontrollable factors involving social, economic, technological, competitive, and regulatory forces. Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-73 Customer Value Customer value is the unique combination of benefits received by targeted buyers that includes quality, price, convenience, on-time delivery, and both before-sale and after-sale service. Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-74 Relationship Marketing Relationship marketing links the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefits. Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-75 Marketing Program A marketing program is a plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers. Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-76 Marketing Concept The marketing concept is the idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization’s goals. Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-77 Market Orientation An organization that has a market orientation focuses its efforts on (1) continuously collecting information about customers’ needs, (2) sharing this information across departments, and (3) using it to create customer value. Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-78 Societal Marketing Concept The societal marketing concept is the view that an organization should satisfy the needs of consumers in a way that provides for society’s well-being. Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-79 Ultimate Consumers Ultimate consumers are the people who use the goods and services purchased for a household. Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-80 Organizational Buyers Organizational buyers are those manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use or for resale. Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-81 Utility Utility is the benefits or customer value received by users of the product. Copyright © 2007 by The McGraw-Hill Companies, Inc. All Rights Reserved. Slide 1-82