Marketing and Asian Perspective

Topics: Marketing, Customer relationship management, Customer service Pages: 16 (2508 words) Published: June 20, 2013
Principles of Marketing: An Asian Perspective

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Marketing: Managing Profitable Customer Relationships

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Outline of Concepts
• • • • Define marketing and the marketing process. Identify and discuss the five core marketing concepts. Discuss the marketing management orientations that guide marketing strategy. Discuss customer relationship management and approaches for building lasting customer relationships.

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

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Goals of Marketing?

• Attract new customers by promising superior value. • Keep and grow current customers by delivering satisfaction. Nintendo’s Wii surged ahead of competition by delivering superior value and customer satisfaction with its interactive games. 4 4 © 2012 Principles of Marketing: An Asian Perspective

Scope of Marketing
• • • • • Marketing is not restricted to profit-making organizations. Not- for-profit (colleges, hospitals, churches, etc.) must also perform marketing. Marketing must both attract new customers and build relationships with current customers. Most people think of marketing as selling and/or advertising. Its focus is really on satisfying customer needs.

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A Simple Model of the Marketing Process

Note: These stages guide our thinking about what marketing is, what it represents in essence. The chapters in the text are built around these themes.

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Understanding Customer Needs, Wants & Demands

Understand the marketplace and

customer needs

Needs

Wants

Demands

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Understanding Customer Needs, Wants & 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

• Wants backed by buying power

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Understanding Customer Needs, Wants & Demands

Needs

• Food • Bed • House

Wants

• Mc Donalds, Crystal Jade • Tatami, Spring Mattress • 3-rm, 4-rm, semi-detached

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Understanding the Marketplace
Markets A market is the set of actual and potential buyers of a product.

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Understanding the Marketplace
• Market offerings are some combination of products, services, information, or experiences offered to a market to satisfy a need or want information services

products

experiences

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What is a Product?
• Product
A product is anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need.

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What is a Service?
• Service
Services are a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything.

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What is a Product?
• Information
Information is data that is gathered for a purpose and can affect behaviour, a decision or an outcome

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What is an Experience?
• Experiences
Experiences represent what buying the product or service will do for the...
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