Marketing - Creating and Capturing Customer Value

Marketing: Creating and Capturing Customer Value
By: Faisal Sultan Ali JAIBP Associate Chartered Banker MBA (Executive) IBA, Karachi M.Com, University of Karachi

Outline
• 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

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

Marketing Process

Understanding the Marketplace and Customer Needs
• Customer needs, wants, and demands

• Market offerings
• Customer Value and satisfaction

• Exchanges and relationships
• Markets

Understanding the Marketplace and Customer Needs
Needs Wants Demands

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

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

• Human 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

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

Understanding the Marketplace and Customer Needs
Exchange is the act of obtaining a desired object from someone by offering something in return

Understanding the Marketplace and Customer Needs
Markets are the set of actual and potential buyers of a product or