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Principles of marketing Course 101

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Principles of marketing Course 101
Chapter 1
Marketing:
Creating and Capturing Customer Value

Copyright ©2014 by Pearson Education, Inc. All rights reserved

Creating and Capturing Customer
Value
Topic Outline
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What Is Marketing?
Understanding the Marketplace and Customer Needs
Designing a Customer‐Driven Marketing Strategy
Preparing an Integrated Marketing Plan and Program
Building Customer Relationships
Capturing Value from Customers
The Changing Marketing Landscape

Copyright ©2014 by Pearson Education, Inc. All rights reserved

What Is Marketing?
Marketing is a process by which companies create value for customers and build strong customer relationships to capture value from customers in return.

Copyright ©2014 by Pearson Education, Inc. All rights reserved

Marketing Process

Understanding the Marketplace and Customer Needs
Customer Needs, Wants, and Demands

Needs

• States of deprivation
• Physical—food, clothing, warmth, safety
• Social—belonging and affection
• Individual—knowledge and self-expression

Wants

• Form that needs take as they are shaped by culture and individual personality

Demands
Copyright ©2014 by Pearson Education, Inc. All rights reserved

• Wants backed by buying power

Understanding the Marketplace and Customer Needs
• Market offerings are some combination of products, services, information, or experiences offered to a market to satisfy a need or want • Marketing myopia is focusing only on existing wants and losing sight of underlying consumer needs Copyright ©2014 by Pearson Education, Inc. All rights reserved

Understanding the Marketplace and Customer Needs
Customer Value and Satisfaction
Expectations
Customers
• Value and satisfaction Marketers
• Set the right level of expectations • Not too high or low
Copyright ©2014 by Pearson Education, Inc. All rights reserved

Understanding the Marketplace and Customer Needs
Exchange is the
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