Professional Documents
Culture Documents
Learning Goals
1. 2. 3. 4. 5. Define marketing and outline the marketing process. Explain the importance of understanding customers and the marketplace, and identify the five core marketplace concepts Identify the key elements of a customer-driven marketing strategy and discuss the marketing management orientations. Discuss customer relationship management and identify strategies for creating and capturing value from customers. Describe the major trends and forces changing the marketing landscape.
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Fans are passionate about NASCAR Fans spend nearly $700 a year on NASCAR merchandise Second highest regular season sport on TV NASCAR attracts over 250 big-name sponsors Big part of the NASCA experience is the feeling of accessibility
Learning Goals
1. 2. 3. 4. 5. Define marketing and outline the marketing process. Explain the importance of understanding customers and the marketplace, and identify the five core marketplace concepts Identify the key elements of a customer-driven marketing strategy and discuss the marketing management orientations. Discuss customer relationship management and identify strategies for creating and capturing value from customers. Describe the major trends and forces changing the marketing landscape.
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What is Marketing?
Marketing is about managing profitable customer relationships
Attracting new customers Retaining and growing current customers
Marketing Defined:
Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging value with others
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Learning Goals
1. 2. 3. 4. 5. Define marketing and outline the marketing process. Explain the importance of understanding customers and the marketplace, and identify the five core marketplace concepts Identify the key elements of a customer-driven marketing strategy and discuss the marketing management orientations. Discuss customer relationship management and identify strategies for creating and capturing value from customers. Describe the major trends and forces changing the marketing landscape.
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Need
State of felt deprivation
Wants
The form of needs as shaped by culture and the individual
Demands
Wants which are backed by buying power
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Marketing offer
Combination of products, services, information or experiences that satisfy a need or want Offer may include services, activities, people, places, information or ideas
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Value
Customers form expectations regarding value Marketers must deliver value to consumers
Satisfaction
A satisfied customer will buy again and tell others about their good experience
1-9 Principles of Marketing, Seventh Canadian Edition
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Exchange
The act of obtaining a desired object from someone by offering something in return One exchange is not the goal, relationships with several exchanges are the goal Relationships are built through delivering value and satisfaction
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Market
Set of actual and potential buyers of a product Marketers seek buyers that are profitable
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Learning Goals
1. 2. 3. 4. 5. Define marketing and outline the marketing process. Explain the importance of understanding customers and the marketplace, and identify the five core marketplace concepts Identify the key elements of a customer-driven marketing strategy and discuss the marketing management orientations. Discuss customer relationship management and identify strategies for creating and capturing value from customers. Describe the major trends and forces changing the marketing landscape.
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Learning Goals
1. 2. 3. 4. 5. Define marketing and outline the marketing process. Explain the importance of understanding customers and the marketplace, and identify the five core marketplace concepts Identify the key elements of a customer-driven marketing strategy and discuss the marketing management orientations. Discuss customer relationship management and identify strategies for creating and capturing value from customers. Describe the major trends and forces changing the marketing landscape.
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Customer Satisfaction
Products perceived performance relative to customers expectations.
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Full partnerships
key customers
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Learning Goals
1. 2. 3. 4. 5. Define marketing and outline the marketing process. Explain the importance of understanding customers and the marketplace, and identify the five core marketplace concepts Identify the key elements of a customer-driven marketing strategy and discuss the marketing management orientations. Discuss customer relationship management and identify strategies for creating and capturing value from customers. Describe the major trends and forces changing the marketing landscape.
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Marketers need to take great responsibility for the impact of their actions
Caring capitalism is a way to differentiate your company
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What is Marketing?
The process of building profitable customer relationships by creating value for customers and capturing value in return
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Learning Goals
1. 2. 3. 4. 5. Define marketing and outline the marketing process. Explain the importance of understanding customers and the marketplace, and identify the five core marketplace concepts Identify the key elements of a customer-driven marketing strategy and discuss the marketing management orientations. Discuss customer relationship management and identify strategies for creating and capturing value from customers. Describe the major trends and forces changing the marketing landscape.
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