1. Fundamentals of Marketing & Customer Service By Ashraf Ayoub 31 st Mar’09 References: Business Today Book, 10 th Edition by M.Mescon . C.Bovee. J.Thill
14. Factory Existing Selling & Profits through Products Promoting sale volume Market Customer integrated profits through needs marketing customer satisfaction The Sales Era The Marketing Era Starting Point Focus Means Ends
27. Beyond Customer Satisfaction Price, Product Quality, Service quality, Innovation, Image Customer Perceived Value Loyalty Market Share & Profitability Shareholder Value
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33. Consumer Decision Process Need Recognition Information search Evaluation of alternatives Purchase Post purchase evaluation
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39. Limitations of marketing research Source of expensive mistakes - Not a substitute for good judgment - misleading If not carefully worded & administered Poor indicator of future buying behavior - Not good predictor of what will excite consumers in the future Suggest what people might prefer or dislike Doesn’t identify ways beyond current states Measures the level of service currently provided Not accurately represent marketplace Administered in artificial settings Surveys Limitations Design Tool
54. Analyzing external environment & tomorrow changes Change in marketing approaches Change in technology Technology Control the marketing On product design, pricing, advertising, activities Laws & regulations Needs more advertising to build awareness about product benefit, products modifications to respond Trends against product, change in tastes Social & cultural trends Affect product availability, affect behavior of target customers interruptions in the supply of raw materials, floods, droughts, & cold weather Natural environment put off buying expensive items, pent-up demand interest rates, inflation, unemployment, personal income, saving rates Economic conditions impact specifics Factors
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60. Factors to Identify Market Segments - Categorization of customers according to their relationship with products (knowledge, attitude) or response to product characteristics Behavior Ease the customiztion Method of combining geographical data with demographics data to develop profiles of neighborhood segments Geodemographics - Classification of customers on the bases of their psychological makeup, by focusing on: * psychological makeup (including activities, attitudes, interests, opinions, & lifestyles) ** why people behave the way they do (by examining brand preferences, media preferences, reading habits, values, self-concept) Psychographics - Categorization of customers according to geographical location (such as regions, cities, counties or neighborhoods) to customize & sell products meet needs of specific markets (assuming buying behavior influenced by people location) Geographics Poor indicator of behavior Study of statistical characteristics of a population (age, gender, income, race, occupation, ethnic group) Demographics Effects specifics Factors
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68. Positioning & the Marketing Environment Target Market Ethics Social responsibility Society Technology Politics Regulation Nature Economics Competition Distribution Price Promotion Product
