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Marketplace
Market
Copyright © 2009
Pearson Education, Inc.
What is Marketing?
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.
Copyright © 2009
Pearson Education, Inc.
What is Marketing Management?
Marketing management is the
art and science
of choosing target markets
and getting, keeping, and growing
customers through
creating, delivering, and communicating
superior customer value.
Copyright © 2009
Pearson Education, Inc.
Core Marketing Concepts
• Needs, wants, and
demands
• Target markets,
positioning,
segmentation
• Offerings and
brands
• Value and
satisfaction
• Marketing channels
• Supply chain
• Competition
• Marketing
environment
MarketMarket:
Group of people
who have the
needs or wants
for certain
products or
services and
willing to pay
for it.
Marketplace
Market
Target Market
MarketMarket:
Group of people
who have the
needs or wants
for certain
products or
services and
willing to pay
for it.
Needs
Wants
Demand
CORE CONCEPTS OFCORE CONCEPTS OF
MARKETINGMARKETING
Needs
A state of felt deprivation
Wants:
Specific objective to satisfy
the need – “brand
specifics”. Often influence
by culture, and
personality/lifestyle
Demand:
Wants supported by
purchasing power
Selling
versus
Marketing
Selling is only the tip ofSelling is only the tip of
the iceberg !the iceberg !
“There will always, one can assume, be
need for some selling. But the aim of
marketing is to make selling
superfluous. The aim of marketing is
to know and understand the
customer so well that the product
or service fits him and sells itself.
Ideally, marketing should result in a
customer who is ready to buy.”
PeterPeter
DruckerDrucker
PeterPeter
DruckerDrucker
(1909~2005)
On the 11th November 2005, the man
who was revered as the father of modern
corporate management died.
Although he reputedly hated the label of
‘guru’, Peter Drucker was, by any
standards, the greatest management guru
the world has yet seen. In 1996, the
McKinsey Quarterly journal described him
as the ‘the one guru to whom other
gurus kowtow’ and Robert Heller
described him as ‘the greatest man in
the history of management’, praise
indeed for a man who described himself
as ‘just an old journalist’.
Selling is only the tip ofSelling is only the tip of
the iceberg !the iceberg !
PeterPeter
DruckerDrucker
Market:
Group of people who
have the needs or
wants for certain
products or services
and willing to pay for
it.
What makes them
willing to pay?
Value
CUSTOMERPERCEIVEDVALUE
Customers tend to be value-maximizers, within the bounds
of search costs, limited knowledge, mobility and income.
Customer perceived value (CPV) – nilai tertanggap
pelanggan:
The difference between benefits and costs of an offering as
perceived by the customers.
Benefits:
Monetary value of the bundle economic, functional and
psychological benefits of a product
Costs:
Bundle of costs customer expect to incur in evaluating,
obtaining, using and disposing a product
-Including monetary, time, energy, and physic costs
Why customer value is so important?
- It would help create customer satisfaction and ultimately
customer loyalty
So, the key to generating high customer loyalty is to deliver
high customer value.
A company must design a competitively superior value
proposition aimed at a specific market segment.
Value Proposition:
- Consist of the whole cluster of benefits the company
promises to deliver.
- It is more than the core positioning of a product.
Ex;
Volvo’s core positioning has been “safest” but the
buyer is promised more than a safe car.
– “The safest and most durable wagon in which your
family can ride in.”
Total Customer Satisfaction
Performance < Expectation = Dissatisfied
Performance = Expectation = Satisfied
Performance > Expectation = WOW (Delighted)
Satisfaction:
A person’s feelings of pleasure or disappointment resulting
from comparing a product’s perceived performance in
relation to his/her expectations.
If expectation is raised too high, the buyer is likely to be
disappointed.
However, if the expectation is set too low, it wont attract
enough buyers
A highly satisfied customer generally:
a. Stays loyal longer
b. Buys more as the company introduces new products
and upgrades existing products
c. Talks favorably about the company and its products
d. Pay less attention to competing brands
e. Less sensitive to price
f. Offers product or service ideas to company
g. Costs less to serve than new customers because
transactions are routine.
Methods to measure customer satisfaction:
a. Customer complaint and recommendation system
b. Periodic surveys using standard questionnaires
c. Lost customer analysis (exit interview)
d. Mystery shoppers (ghost shopping)
RELATIONSHIP MARKETING
Proses membina suatu bentuk
perhubungan perniagaan jangkapanjang
dengan pelanggan, pembekal, pengedar
dan rakan pemasaran lain yang
menguntungkan kedua-dua pihak.
Melibatkan ikatan ekonomi, teknikal
mahupun sosial
HSBC Bank, The Relationship Bank
TM – Bukan Sekadar Nombor
INTEGRATED
MARKETING
Kesemua elemen campuran
pemasaran perlu disepadukan
perancangan dan
perlaksanaannya agar ia dapat
mengkomunikasikan dan
seterusnya memberikan nilai
yang superior kpd pelanggan
The Four P’s
Marketing Management Tasks
• Developing
marketing strategies
• Capturing marketing
insights
• Connecting with
customers
• Building strong
brands
• Shaping market
offerings
• Delivering value
• Communicating
value
• Creating long-term
growth
Satisfaction
Loyalty
The process of selecting
target market (s) and
expanding the market by
creating, delivering and
communicating superior
customer values
MARKETINGMARKETING
MANAGEMENTMANAGEMENT
Segmentation
Targeting
Positioning
Product
Positioning
How we want our
target market to
think about our
product compared
to the competing
products
What is Marketed?
GoodsGoods
ServicesServices
Events & ExperiencesEvents & Experiences
PersonsPersons
Places & PropertiesPlaces & Properties
OrganizationsOrganizations
Information & IdeaInformation & Idea
OthersOthers
watch
hotel
Le’ Tour De Langkawi
politicians,
KL Tower
consulting
charity orgs
Key Customer Markets
Consumer Markets
Business Markets
Global Markets
Nonprofit/ Government
Markets
Marketing PhilosophyMarketing Philosophy
Production
Selling Marketing
Product
RELATIONSHIP
MARKETING
The process of building
long term business
relationship with
customers for mutual
benefits
The Four P’s
Holistic Marketing Dimensions
Factors Influencing
Marketing Strategy
MARKETING
Marketers job is to find:
A. The right products for
their customers
OR
B. The right customers for
their products.
Answer: A or B ???
MARKETING
Marketers job is to find:
A. The right products for
their customers
OR
B. The right customers for
their products.
Answer: A

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Mm intro & value

  • 2. Copyright © 2009 Pearson Education, Inc. What is Marketing? 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.
  • 3. Copyright © 2009 Pearson Education, Inc. What is Marketing Management? Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.
  • 4. Copyright © 2009 Pearson Education, Inc. Core Marketing Concepts • Needs, wants, and demands • Target markets, positioning, segmentation • Offerings and brands • Value and satisfaction • Marketing channels • Supply chain • Competition • Marketing environment
  • 5. MarketMarket: Group of people who have the needs or wants for certain products or services and willing to pay for it.
  • 7. MarketMarket: Group of people who have the needs or wants for certain products or services and willing to pay for it.
  • 8. Needs Wants Demand CORE CONCEPTS OFCORE CONCEPTS OF MARKETINGMARKETING
  • 9. Needs A state of felt deprivation Wants: Specific objective to satisfy the need – “brand specifics”. Often influence by culture, and personality/lifestyle Demand: Wants supported by purchasing power
  • 11. Selling is only the tip ofSelling is only the tip of the iceberg !the iceberg ! “There will always, one can assume, be need for some selling. But the aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy.” PeterPeter DruckerDrucker
  • 12. PeterPeter DruckerDrucker (1909~2005) On the 11th November 2005, the man who was revered as the father of modern corporate management died. Although he reputedly hated the label of ‘guru’, Peter Drucker was, by any standards, the greatest management guru the world has yet seen. In 1996, the McKinsey Quarterly journal described him as the ‘the one guru to whom other gurus kowtow’ and Robert Heller described him as ‘the greatest man in the history of management’, praise indeed for a man who described himself as ‘just an old journalist’.
  • 13. Selling is only the tip ofSelling is only the tip of the iceberg !the iceberg ! PeterPeter DruckerDrucker
  • 14. Market: Group of people who have the needs or wants for certain products or services and willing to pay for it. What makes them willing to pay?
  • 15. Value
  • 16. CUSTOMERPERCEIVEDVALUE Customers tend to be value-maximizers, within the bounds of search costs, limited knowledge, mobility and income. Customer perceived value (CPV) – nilai tertanggap pelanggan: The difference between benefits and costs of an offering as perceived by the customers. Benefits: Monetary value of the bundle economic, functional and psychological benefits of a product Costs: Bundle of costs customer expect to incur in evaluating, obtaining, using and disposing a product -Including monetary, time, energy, and physic costs Why customer value is so important? - It would help create customer satisfaction and ultimately customer loyalty
  • 17. So, the key to generating high customer loyalty is to deliver high customer value. A company must design a competitively superior value proposition aimed at a specific market segment. Value Proposition: - Consist of the whole cluster of benefits the company promises to deliver. - It is more than the core positioning of a product. Ex; Volvo’s core positioning has been “safest” but the buyer is promised more than a safe car. – “The safest and most durable wagon in which your family can ride in.”
  • 18. Total Customer Satisfaction Performance < Expectation = Dissatisfied Performance = Expectation = Satisfied Performance > Expectation = WOW (Delighted) Satisfaction: A person’s feelings of pleasure or disappointment resulting from comparing a product’s perceived performance in relation to his/her expectations. If expectation is raised too high, the buyer is likely to be disappointed. However, if the expectation is set too low, it wont attract enough buyers
  • 19. A highly satisfied customer generally: a. Stays loyal longer b. Buys more as the company introduces new products and upgrades existing products c. Talks favorably about the company and its products d. Pay less attention to competing brands e. Less sensitive to price f. Offers product or service ideas to company g. Costs less to serve than new customers because transactions are routine. Methods to measure customer satisfaction: a. Customer complaint and recommendation system b. Periodic surveys using standard questionnaires c. Lost customer analysis (exit interview) d. Mystery shoppers (ghost shopping)
  • 20. RELATIONSHIP MARKETING Proses membina suatu bentuk perhubungan perniagaan jangkapanjang dengan pelanggan, pembekal, pengedar dan rakan pemasaran lain yang menguntungkan kedua-dua pihak. Melibatkan ikatan ekonomi, teknikal mahupun sosial HSBC Bank, The Relationship Bank TM – Bukan Sekadar Nombor
  • 21. INTEGRATED MARKETING Kesemua elemen campuran pemasaran perlu disepadukan perancangan dan perlaksanaannya agar ia dapat mengkomunikasikan dan seterusnya memberikan nilai yang superior kpd pelanggan
  • 23. Marketing Management Tasks • Developing marketing strategies • Capturing marketing insights • Connecting with customers • Building strong brands • Shaping market offerings • Delivering value • Communicating value • Creating long-term growth
  • 26. The process of selecting target market (s) and expanding the market by creating, delivering and communicating superior customer values MARKETINGMARKETING MANAGEMENTMANAGEMENT
  • 30. Product Positioning How we want our target market to think about our product compared to the competing products
  • 31.
  • 32. What is Marketed? GoodsGoods ServicesServices Events & ExperiencesEvents & Experiences PersonsPersons Places & PropertiesPlaces & Properties OrganizationsOrganizations Information & IdeaInformation & Idea OthersOthers watch hotel Le’ Tour De Langkawi politicians, KL Tower consulting charity orgs
  • 33. Key Customer Markets Consumer Markets Business Markets Global Markets Nonprofit/ Government Markets
  • 35. RELATIONSHIP MARKETING The process of building long term business relationship with customers for mutual benefits
  • 39. MARKETING Marketers job is to find: A. The right products for their customers OR B. The right customers for their products. Answer: A or B ???
  • 40. MARKETING Marketers job is to find: A. The right products for their customers OR B. The right customers for their products. Answer: A