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    Intro To Marketing

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    irtifa N
    This document provides an introduction to customer-centric marketing. It outlines 5 key steps in the marketing process: 1) Understanding customer needs and wants in the marketplace. 2) Designing a marketing strategy through market segmentation, target markets, and value propositions. 3) Preparing an integrated marketing plan using the marketing mix of product, price, place, and promotion. 4) Building customer relationships through customer relationship management and satisfaction. 5) Capturing customer value by measuring lifetime value, share of customer, share of market, and building overall customer equity. The goal is to create value for customers, build strong customer relationships, and profitably capture value from customers in return.

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    Intro To Marketing

    Uploaded by

    irtifa N
    4 views10 pages
    This document provides an introduction to customer-centric marketing. It outlines 5 key steps in the marketing process: 1) Understanding customer needs and wants in the marketplace. 2) Designing a marketing strategy through market segmentation, target markets, and value propositions. 3) Preparing an integrated marketing plan using the marketing mix of product, price, place, and promotion. 4) Building customer relationships through customer relationship management and satisfaction. 5) Capturing customer value by measuring lifetime value, share of customer, share of market, and building overall customer equity. The goal is to create value for customers, build strong customer relationships, and profitably capture value from customers in return.

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    Intro to marketing

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    This document provides an introduction to customer-centric marketing. It outlines 5 key steps in the marketing process: 1) Understanding customer needs and wants in the marketplace. 2) Designing a marketing strategy through market segmentation, target markets, and value propositions. 3) Preparing an integrated marketing plan using the marketing mix of product, price, place, and promotion. 4) Building customer relationships through customer relationship management and satisfaction. 5) Capturing customer value by measuring lifetime value, share of customer, share of market, and building overall customer equity. The goal is to create value for customers, build strong customer relationships, and profitably capture value from customers in return.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    4 views10 pages

    Intro To Marketing

    Uploaded by

    irtifa N
    This document provides an introduction to customer-centric marketing. It outlines 5 key steps in the marketing process: 1) Understanding customer needs and wants in the marketplace. 2) Designing a marketing strategy through market segmentation, target markets, and value propositions. 3) Preparing an integrated marketing plan using the marketing mix of product, price, place, and promotion. 4) Building customer relationships through customer relationship management and satisfaction. 5) Capturing customer value by measuring lifetime value, share of customer, share of market, and building overall customer equity. The goal is to create value for customers, build strong customer relationships, and profitably capture value from customers in return.

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    You are on page 1of 10

    INTRODUCTION TO

    MARKETING
    Lecture 1
    What is Customer-Centric Marketing?

     Managing profitable customer relationships


     The process of building and maintaining desirable
    exchange relationships
     The process by which companies create value for
    customers & build strong customer relationships in
    order to capture value from customers in return
     Customer’s Value  The customer’s evaluation of the
    difference between all the benefits and all the costs of
    a market offering compared to that of competing offers
    Steps in the Marketing
    Process

    Creating value for customers & building Capture


    Understa relationships
    customer Build
    Construc value
    nd the Design a profitabl
    t an from
    marketpl customer e
    integrate customer
    ace & -driven relations
    d s to
    customer marketin hips &
    marketin create
    needs g create
    g profits &
    and strategy customer
    program customer
    wants delight
    equity
    Capturing
    value in
    return
    1. Understanding the Consumer &
    Marketplace

     Market
     The set of all current & potential buyers of a
    product or service
     Needs
     State of felt-deprivation; innate to human beings
     Wants
     The form human needs take when they are
    shaped by culture and individual personality
     Demands
     Wants backed by buying power
    2. Designing a Marketing
    Strategy
     Market Segmentation
     Dividing the total market into homogenous
    sets of customers
     Target Market
     The segment of customers the company can
    most profitably target
     Value Proposition
     The set of unique & compelling benefits or
    values the company/brand promises to
    deliver to customers to satisfy their needs
    3. Preparing an Integrated Marketing Plan

     Marketing Mix
     The set of marketing tools the firm uses to
    implement its marketing strategy
     Product
     Price
     Place
     Promotion
    4. Building Customer
    Relationships
     Customer Relationship Management
     The overall process of building &
    maintaining profitable customer
    relationships by delivering superior
    customer value and satisfaction

     Customer Satisfaction
     The extent to which a product’s perceived
    performance matches a buyer’s
    expectations
    5. Capturing Customer
    Value
     Customer Lifetime Value
     The value of the entire stream of purchases that a
    customer would make over a lifetime of patronage
     Share of Customer
     The portion of a customer’s purchasing that a company
    gets in its product categories
     Share of Market
     The percentage of a product category’s total sales
    attributable to your brand
     Customer Equity
     The total combined customer lifetime values of all the
    company’s customers
    XXXX

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