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Lecture 1 - Introduction PDF

The document discusses customer relationship management (CRM) and marketing concepts. It defines marketing as a social and managerial process where individuals obtain what they need through creating and exchanging products of value. Marketing is also about understanding customers, creating value for them, and managing customer relationships to benefit the organization. The document then discusses how marketing has evolved from a production concept to a customer-centric approach that focuses on relationships rather than transactions. It emphasizes studying consumer behavior to understand how customers respond to offerings.

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Puneet sharma
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Download as PDF, TXT or read online on Scribd
86 views

Lecture 1 - Introduction PDF

The document discusses customer relationship management (CRM) and marketing concepts. It defines marketing as a social and managerial process where individuals obtain what they need through creating and exchanging products of value. Marketing is also about understanding customers, creating value for them, and managing customer relationships to benefit the organization. The document then discusses how marketing has evolved from a production concept to a customer-centric approach that focuses on relationships rather than transactions. It emphasizes studying consumer behavior to understand how customers respond to offerings.

Uploaded by

Puneet sharma
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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CUSTOMER

RELATIONSHIP MANAGEMENT
(CRM)

Dr. Devkant Kala


Introduction
No so
Fulfilled Important X

Needs
Of utmost Essence of
Unfulfilled
Importance Marketing

Satisfy with Traditional


Known Offerings concept of
Needs Marketing
(Fulfilled/
Unfulfilled) Unknown Create and than Modern Concept
(Created) offer the solution of Marketing
MARKETING : DEFINITIONS

Marketing is a societal and managerial process by which individuals and groups


obtain what they need and want through creating, communicating and
exchanging products and value with others.

It is a mechanism of understanding, creating, and delivering profitable value to


targeted customers better than the competition.

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 benefits the organization and its stakeholders.
BUSINESS OBJECTIVES AND MARKETING

Marketing can not be considered as a separate function, it


is the whole business, seen from the point of view of its
final results.................that is profit, through customer
satisfaction.

- Peter Drucker
Evolution of Marketing

 Not an overnight phenomenon.

 How marketing has become “marketing” as we


understand it and apply its practices today?
Evolution of Marketing Societal
Marketing Today
Relationship
Concept

Marketing
Concept

Selling
Concept

Product
Concept

Production
Concept
Exchange Conceptualized
Concept
Self-Sufficient
Concept
Old Approach Vs New Approach

Product-Centric Customer-Centric
Marketing Marketing

Product Focus Customer Focus

Transactions Relationships

Acquiring Customers Retaining Customers

Product Profitability Customer Profitability

Trial & Error Test, Measure & Refine


Titan Fastrack
Tata Nano – Dream to Failure
Dell: Online
Dell: Online to Store
Barbie Ken
Some Global Changes in Marketing
 VUCA Environment – Volatile, Uncertain, Complex and Ambiguous

 Country of Origin – Ethnocentrism, Xenocentrism

 Disruptive Innovations – Netflix, Airbnb, Uber

 Consumer Dynamics – TV to Webseries

 Customization Oriented Consumer – MyFit by Van Heusan

 Big Data and Cookies – Facebook Privacy Scandal

 Social Media Usage – eWOM/ 4Rs (review, recommendation, rating & referral)
Some Global Changes in Marketing
 Co-creation – Starbuck, Lego, Tanishiq Mia, Tourism & Hospitality

 Customer Engagement – TikTok

 User Generated Content – Wikipedia, GoPro

 Product Presentation in Online marketspace – Anthropomorphism/


Augmented & Virtual Reality

 Green/Environmental Concerned Consumer – PETA

 Application of Robotics, Artificial Intelligence & Automation


Why study Consumer and its Buying Behavior?

 Consumers ‘evolve’ learning, exposure and experience.


They cannot be taken for granted with time.
Why Study Consumer and its Buying Behavior?

 No brand/product can appeal to all people.

Segmentation Targeting Positioning

Firms must examine all of the touch points that shape how a
consumer will respond to their offering.
Why Study Consumer and its Buying Behavior?

 Our guesses about people are inaccurate.


Consumer Dynamics

Production/ Product centric Market / Customer centric

 Hindustan Motors (Ambassador) followed product centric approach


and lost its market share to Maruti which followed the customer centric
approach.

Consumer Dynamics
McCann Worldgroup: 'Truth About Street'

Leave their desks (for a day) and head to the streets in their local markets to meet with and
interview people face-to-face and gain insights into their shopping behaviour and their
relationship to cultural values.
Study involved roughly 20,000 McCann Worldgroup employees in more than 100 countries.
Thank You.

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