The Art and Science of Satisfying Customers
© 2013 Nelson Education Ltd
Chapter 01 – The Art and Science of Satisfying Customers
Learning Objective 1
What is Marketing?
Want-satisfying power of a good or service
Identifying consumer needs
Definition of Marketing
Designing products that meet those needs Communicating information about products, prospective, customers
Making items available at times and places meeting consumer needs
Pricing products to reflect costs, competition & customers’ ability to pay Marketing activities include
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
Goods & services offered by marketers provide
Providing necessary service and following up post purchase
Learning Objective 2
Four Eras in the History of Marketing
Production Era
Sales Era
Marketing Era
Form Utility – conversion of raw materials and components into finished goods & services Time Utility – availability of goods and services when consumers want them
Utility
Place Utility – availability of goods and services at convenient locations
Ownership Utility –
Ability to transfer title to goods and services from a marketer to buyer Relationship Era
Production Orientation
Sales Orientation
Consumer Orientation
Relationship Marketing
Business philosophy stressing
Belief that consumers will resists purchasing non-essential goods and services, with the attitude toward marketing that only creative advertising and personal selling can overcome this resistance. Business philosophy incorporating the marketing concept that emphasizes in first determining unmet consumer needs and then designing a system for satisfying them.
Development and maintenance of long term cost effective relationships with individual customers, suppliers,
Chapter 01 – The Art and Science of Satisfying Customers
Learning Objective 1
What is Marketing?
Want-satisfying power of a good or service
Identifying consumer needs
Definition of Marketing
Designing products that meet those needs Communicating information about products, prospective, customers
Making items available at times and places meeting consumer needs
Pricing products to reflect costs, competition & customers’ ability to pay Marketing activities include
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
Goods & services offered by marketers provide
Providing necessary service and following up post purchase
Learning Objective 2
Four Eras in the History of Marketing
Production Era
Sales Era
Marketing Era
Form Utility – conversion of raw materials and components into finished goods & services Time Utility – availability of goods and services when consumers want them
Utility
Place Utility – availability of goods and services at convenient locations
Ownership Utility –
Ability to transfer title to goods and services from a marketer to buyer Relationship Era
Production Orientation
Sales Orientation
Consumer Orientation
Relationship Marketing
Business philosophy stressing
Belief that consumers will resists purchasing non-essential goods and services, with the attitude toward marketing that only creative advertising and personal selling can overcome this resistance. Business philosophy incorporating the marketing concept that emphasizes in first determining unmet consumer needs and then designing a system for satisfying them.
Development and maintenance of long term cost effective relationships with individual customers, suppliers,