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    Chapter1 BAM 102

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    ROMEO DE GUZMAN, JR.
    The document discusses marketing and marketing management. It defines marketing as managing profitable customer relationships by attracting new and retaining current customers. Marketing management involves choosing target markets and building relationships with them. The document also discusses customer relationship management, how to attract, retain, and grow customers through building relationships and customer equity. It notes the challenges marketers face in an increasingly connected world.

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    Chapter1 BAM 102

    Uploaded by

    ROMEO DE GUZMAN, JR.
    38 views20 pages
    The document discusses marketing and marketing management. It defines marketing as managing profitable customer relationships by attracting new and retaining current customers. Marketing management involves choosing target markets and building relationships with them. The document also discusses customer relationship management, how to attract, retain, and grow customers through building relationships and customer equity. It notes the challenges marketers face in an increasingly connected world.

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    The document discusses marketing and marketing management. It defines marketing as managing profitable customer relationships by attracting new and retaining current customers. Marketing management involves choosing target markets and building relationships with them. The document also discusses customer relationship management, how to attract, retain, and grow customers through building relationships and customer equity. It notes the challenges marketers face in an increasingly connected world.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    38 views20 pages

    Chapter1 BAM 102

    Uploaded by

    ROMEO DE GUZMAN, JR.
    The document discusses marketing and marketing management. It defines marketing as managing profitable customer relationships by attracting new and retaining current customers. Marketing management involves choosing target markets and building relationships with them. The document also discusses customer relationship management, how to attract, retain, and grow customers through building relationships and customer equity. It notes the challenges marketers face in an increasingly connected world.

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    © All Rights Reserved
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    You are on page 1of 20

    Marketing: Managing

    Profitable Customer
    Relationships
    Chapter 1
    Objectives
    • Be able to define marketing
    and discuss its core concepts.
    • Be able to define marketing
    management and compare the five
    marketing management
    orientations.
    1-2
    Objectives
    • Understand customer
    relationship management and
    strategies.
    • Realize the major challenges
    facing marketers in the new
    “connected” millennium.
    1-3
    What is Marketing?
    • Marketing is managing profitable
    customer relationships
     Attracting new customers
     Retaining and growing current
    customers
    • “Marketing” is NOT synonymous with
    “sales” or “advertising”
    1-4
    What is Marketing?
    • Kotler’s social definition:
    “Marketing is a social and
    managerial process by which
    individuals and groups obtain
    what they need and want through
    creating and exchanging products
    and value with others.”

    1-5
    What is Marketing?

    Many Things Can Be Marketed!


    • Goods • Places
    • Services • Properties
    • Experiences • Organizations
    • Events • Information
    • Persons • Ideas
    1-6
    What is Marketing?

    Core Marketing Concepts


    • Needs, wants, • Value and
    and demands satisfaction
    • Marketing offers: • Exchange,
    including transactions and
    products, services
    and experiences relationships
    • Markets
    1-7
    Marketing Management
    • Marketing management is “the art
    and science of choosing target markets
    and building profitable relationships
    with them.”
     Creating, delivering and
    communicating superior customer
    value is key.

    1-8
    Marketing Management
    • Customer Management:
     Marketers select customers that can
    be served well and profitably.
    • Demand Management:
     Marketers must deal with different
    demand states ranging from no
    demand to too much demand.

    1-9
    Marketing Management
    Marketing Management
    Management Orientations
    • Production • Selling concept
    concept • Marketing
    • Product concept concept
    • Societal marketing concept

    1 - 10
    CRM
    • CRM – Customer relationship
    management . . .
    “is the overall process of building
    and maintaining profitable customer
    relationships by delivering superior
    customer
    value and satisfaction.”
    1 - 11
    CRM
    • It costs 5 to 10 times MORE to
    attract a new customer than it
    does to keep a current customer
    satisfied.
    • Marketers must be concerned
    with the lifetime value of the
    customer.
    1 - 12
    CRM
    Key Concepts • Customer value/satisfaction
     Perceptions are key
     Meeting/exceeding
    • Attracting, expectations creates
    satisfaction
    retaining and
    • Loyalty and retention
    growing customers  Benefits of loyalty
     Loyalty increases as
    • Building customer satisfaction levels increase
    relationships and  Delighting consumers should
    be the goal
    customer equity
    1 - 13
    CRM
    • Customer equity
    Key Concepts
     The total combined
    customer lifetime
    • Attracting, values of all
    retaining and customers.
    growing customers  Measures a firm’s
    performance, but in a
    • Building customer manner that looks to
    relationships and the future.
    customer equity
    1 - 14
    CRM
    • Customer relationship
    Key Concepts levels and tools
     Target market typically
    dictates type of relationship
    • Attracting,  Basic relationships
    retaining and  Full relationships

    growing customers  Customer loyalty and


    retention programs
    • Building customer  Adding financial benefits
     Adding social benefits
    relationships and  Adding structural ties

    customer equity
    1 - 15
    Marketing Challenges
    • Technological advances, rapid
    globalization, and continuing social
    and economic shifts are causing
    marketplace changes.
    • Major marketing developments can be
    grouped under the theme of
    Connecting.

    1 - 16
    Marketing Challenges
    Connecting • Advances in computers,
    telecommunications, video-
    conferencing, etc. are major
    forces.
    • Via technology  Databases allow for
    customization of products,
    • With customers messages and analysis of
    needs.
    • With marketing • The Internet
     Facilitates anytime,
    partners anywhere connections
     Facilitates CRM
    • With the world  Creates marketspaces

    1 - 17
    Marketing Challenges
    Connecting • Selective relationship
    management is key.
     Customer profitability
    • Via technology analysis separates winners
    from losers.
    • With customers • Growing “share of
    customer”
    • With marketing  Cross-selling and up-
    selling are helpful.
    partners
    • Direct sales to buyers are
    • With the world growing.
    1 - 18
    Marketing Challenges
    Connecting • Partner relationship
    management involves:
    • Via technology  Connecting inside the
    company
    • With customers  Connecting with
    outside partners
    • With marketing  Supply chain
    partners management
     Strategic alliances
    • With the world
    1 - 19
    Marketing Challenges
    • Globalization
    Connecting  Competition
     New opportunities
    • Via technology • Greater concern for
    environmental and social
    • With customers responsibility
    • Increased marketing by
    • With marketing nonprofit and public-
    sector entities
    partners  Social marketing
    campaigns
    • With the world
    1 - 20

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