Twelfth Edition Presented by Ms. Ayesha Farooq
Bahria Institute Of Management Sciences
Chapter 1 Marketing: Managing Profitable Customer Relationship
What is marketing? Understanding the market place & customer
needs. Designing a customer driven marketing strategy. Prepare a marketing plan & program building customer relationships. Capturing value from customers. The new marketing landscape. So, what is marketing pulling it all together.
What is Marketing?
Marketing is the process by which companies
create value for customers & build strong customer relationships in order to capture value from customers in return.
Marketing is all about” satisfying customer
Goal of Marketing:
To attract new customers by promising
To keep & grow current customers by
A simple model of the marketing process
Create value for customers & build customer relationships
Construct an integrated marketing program that delivers superior value
Capture value from customers in return
Capture value from customers to create profits & customer equity.
Understand the marketplace & customer needs & wants
Design a customer driven marketing strategy
Build profitable relationships & create customer delight
Needs: Needs are the basic human requirements
e.g food, water, air, shelter.
Wants: Are the form human needs take as shaped
by culture and individual responsibility.
Demands: Human wants that are backed by buying power. Market offering: Some combination of products, services,
information, or experiences offered to a market to satisfy a need or want. Eg, banks, airlines.
Marketing Myopia: The mistake of paying more
attention to the specific products a company offers than to the benefits & experiences produced by these... [continues]
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