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Chapter 1: Creating Customer Value and Engagement

This chapter discusses creating customer value and engagement through marketing. It covers understanding customer needs and designing customer value propositions. Key topics include customer relationship management, building customer loyalty, and measuring customer lifetime value. It also addresses adapting to changes in the digital landscape and calls for more sustainable and socially responsible marketing practices.

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Shamsher Khan
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49 views8 pages

Chapter 1: Creating Customer Value and Engagement

This chapter discusses creating customer value and engagement through marketing. It covers understanding customer needs and designing customer value propositions. Key topics include customer relationship management, building customer loyalty, and measuring customer lifetime value. It also addresses adapting to changes in the digital landscape and calls for more sustainable and socially responsible marketing practices.

Uploaded by

Shamsher Khan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Chapter 1: Creating customer value and engagement

 What is marketing = 1
 Marketing defined = 1
 Marketing process = 1
 Understanding market place and customer needs = 2
 Customer needs, wants, demands = 2
 Marketing offerings-products, services, experience = 3
 Marketing myopia = 3
 Customer value and satisfaction = 4
 Exchanges and relationship = 4
 Designing a customer value = 4
 Customer value driven marketing strategy = 4
 Selecting customers to serve = 5
 Choosing value proposition = 5
 Marketing management orientation = 5
 Production concept = 6
 Product concept = 6
 Selling concept = 6
 Marketing concept = 6
 Customer driven companies = 7
 Societal marketing concept = 7
 Preparing integrated marketing plan and program (4 Ps) = 8
 Managing customer relation and capturing customer value = 8
 Engaging customers and managing customer relation = 8
 Customer relation management = 8
 Relation building blocks = 9
 Customer value and satisfaction = 9
 Customer perceived value = 9
 Customer satisfaction = 9
 Customer relation levels and tools = 9
 Customer engagement and today’s digital social media = 10
 Customer engagement marketing = 10
 Consumer generated marketing = 10
 Partner relationship management = 11
 Capturing value from customers = 11
 Creating customer loyalty and retention = 11
 Customer lifetime value = 12
 Growing share of customers = 12
 Building customer equity = 12
 Building right relation with right customers = 12
 Potential profitability and projected loyalty = 12
 Butterflies, strangers, true friends and barnacles = 13
 Changing marketing landscape = 14
 Digital age =14
 Digital and social media marketing = 14
 Social media marketing = 14
 Mobile marketing = 14
 Changing economic environment = 14
 Rapid globalization = 15
 Sustainable marketing – call for more environment and social responsibility
= 15

Chapter 2: Company and marketing strategy partnering to


build customer relation
 Company wide strategic planning = 15
 Defining marketing’s role = 15
 Strategic planning = 15
 Defining market-oriented mission = 16
 Mission statement = 16
 Market oriented vs product oriented = 17
 Setting company objectives and goals = 17
 Designing business portfolio = 18
 Analyzing current business portfolio = 18
 Portfolio analysis = 18
 Strategic business units SBUs = 18
 Boston consulting group approach BCG Matrix = 19
 Star, cash cow, question mark, dogs = 20
 Video of BCG Matrix = 21
 Downsizing = 23
 Problems with BCG Matrix = 23
 Developing strategies for growth and downsizing = 23
 Product / market expansion grid (Ansoff Matrix) = 23
 Market penetration, market development, product development,
diversification = 24
 Planning marketing: Partnering to build customer relation = 26
 Partnering with other company department = 26
 Value chain – 26
 Partnering with others in marketing system = 26
 Value delivery network = 27
 Marketing strategy and marketing mix = 27
 Customer value driven marketing strategy = 27
 Marketing segmentation = 28
 Geographic, demographic = 28
 Psychographic, behavioral = 29
 Market segment, market targeting = 29
 Market differentiation and positioning = 29
 Market differentiation and positioning = 29
 Positioning and differentiation = 30
 Greater customer value = 30
 Developing integrated marketing mix = 30
 Marketing mix = 30
 Product, price, place, promotion = 31
 Managing marketing effort and marketing return on investment = 32
 5 marketing management function = 32
 Marketing analysis = 32
 SWOT analysis = 32
 Marketing department organization = 33
 Marketing control = 33
 Measuring and managing marketing return on investment = 33
 Marketing return on investment ROT = 33

Chapter 3: Analyzing marketing environment


 Marketing environment = 34
 Microenvironment and macroenvironment = 34
 The microenvironment = 34
 The company = 35
 Suppliers = 35
 Marketing intermediaries = 35
 Resellers = 35
 Physical distribution firm = 36
 Marketing services agencies = 36
 Financial intermediaries = 36
 Competitors = 36
 Publics = 36
 Customers = 37
 Types of market = 37
 Macroenvironment = 38
 Demographic and economic environment = 38
 Natural and technological environment = 39
 Environmental sustainability = 39
 Technological environment = 39
 Political social and cultural environment = 40
 legislation regulating business = 40
 Public policy = 40
 Business legislation reasons = 40
 Increased emphasis on ethics and socially responsible action = 40
 Socially responsible behavior = 40
 Cultural environment = 41
 Cultural characteristics affecting marketing decision = 41
 Persistence of cultural values = 41
 Shifts in secondary cultural values = 41
 Responding to marketing environment = 41

Chapter 5: Consumer markets and buyer behavior


 Consumer buyer behavior = 42
 Consumer market = 42
 Model of consumer behavior = 42
 Consumer’s black box = 43
 Character tics affecting consumer behavior = 43
 Cultural factors = 43
 Total marketing strategy = 44
 Social class = 44
 Social factors = 45
 Groups and social networks = 45
 Membership groups = 45
 Reference group = 45
 Word of mouth influence = 45
 Opinion leader = 45
 Online social networks = 46
 Roles and status = 46
 Personal factors = 46
 Occupation = 46
 Age and life stage = 46
 Economic situation = 47
 Lifestyles = 47
 Personality and self-concept = 47
 Psychological factors = 47
 Motivation = 47
 Theory of Sigmund freud and Abraham maslow = 48

 Abraham maslow = 48 (Maslow’s Hierarchy of Needs)


 Interpretive consumer research = 48
 Perception (awareness) = 48
 3 perceptual processes = 48
 Selective attention, selective distortion, selective retention = 49
 Learning, drive, stimulus object = 49
 Beliefs and attitudes = 49
 Buying decision behavior and buyer decision process = 50
 Types of buying decision behavior = 50
 Difference among brand and buyer involvement = 50
 Complex buying behavior = 50
 Dissonance reducing buying behavior = 50
 Habitual buying behavior = 51
 Variety seeking buying behavior = 51
 Buyer decision process = 52
 Need recognition, information search, evaluation of
alternatives =52
 purchase decision, post purchase behavior = 53
 buyer decision process for new product = 53
 new product, adoption process = 53
 stages in adoption process = 54
Chapter 7: customer value driven marketing
strategy: Creating value for target customers
 target marketing = 54
 market segmentation = 55
 4 imp segmentation topics = 55
 Segmenting consumer market = 55
 Geographic segmentation = 55
 Demographic segmentation = 55
 Age and life cycle segmentation = 55
 Psychographic segmentation = 56
 Behavioral segmentation = 56
 Occasion segmentation = 56
 Benefit of segmentation = 56
 Segmenting business markets = 56
 Segmenting international markets = 56
 Intermarket (cross-market) segmentation = 57
 Requirement for effective segmentation = 57
 Market targeting = 58
 Evaluating market segments = 58
 Selecting target market segments = 58
 Target market = 58
 Undifferentiated (mass) marketing = 58
 Differentiated (segmented) marketing = 58
 Concentrated (niche) marketing = 58
 Micromarketing = 59
 Local marketing = 59
 Individual marketing = 59
 Choosing targeting strategy = 59
 Undifferentiated and differentiated marketing = 59
 Market variability = 60
 Competitors marketing strategies = 60
 Socially responsible target marketing = 60
 Differentiation and positioning =60
 Value proposition = 60
 Product position = 60
 Positioning maps = 60
 Choosing differentiation and positioning strategy = 60
 Identifying possible value differences and competitive advantage = 60
 Competitive advantage = 61
 Choosing right competitive advantage = 61
 Which differences to promote = 61
 Selecting overall positioning strategy = 62
 Value proposition = 62
 Developing position statement = 62
 Positioning statement = 62

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