Creating-and-Capturing-Customer-Value-18042020-013356pm-29032021-085208pm-02062022-055008pm.ppt

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Copyright © 2010 Pearson Education, Inc.
Publishing as Prentice Hall

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Welcome
• Bahria
University
• Marketing
Class
Challenge
Introduction
• Instructor
• Learners
• Course

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Class’ Introduction
Please.

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What is your name, last degree ,your family business or
profession and GPA if you want?
What is the first major thing U want to do when U
complete UR Degree?
What is UR first-choice career?
Name one undeveloped skills U would like to improve in
MBA or BBA
What change do U expect in U when U are an BBA?
Mention the following in your
introduction

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Course
Principles of Marketing

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Chapter One
Marketing: Creating and Capturing
Customer Value

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Creating and Capturing Customer
Value
• What Is Marketing? What is Marketing not?
• Understand the Marketplace and Customer Needs
• Designing a Customer-Driven Marketing Strategy
• Preparing an Integrated Marketing Plan and Program
• Building Customer Relationships
• Capturing Value from Customers
• The Changing Marketing Landscape
Topic Outline

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http://www.enlighte
nedmarketing.com

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What Is Marketing NOT?
Advertising
Selling
1-11

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Selling Is Only the Tip of the Iceberg
“There will always be a need for
some selling. But the aim of marketing is
to make selling superfluous. The aim of
marketing is to know and understand the
customer so well that the product or
service fits him and sells itself. Ideally,
marketing should result in a customer
who is ready to buy. All that should be
needed is to make the product or service
available.”
Peter Drucker
1-12

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What Is Marketing?
Marketing is meeting customers’
Needs profitably
1-13

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What Is Marketing?
Marketing is a process by which
companies create value for customers and
build strong customer relationships to
capture value
from customers in
return

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Industry Market
Products/Services
Communication
Feedback
Money

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Players

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What Is Marketing?
The Marketing Process

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Understanding the Marketplace
and Customer Needs
• Customer needs, wants, and demands
• Market offerings
• Value and satisfaction
• Exchanges and relationships
• Markets
Core Concepts

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and Customer Needs
• States of deprivation
• Physical—food, clothing, warmth, safety
• Social—belonging and affection
• Individual—knowledge and self-expression
Needs
• Form that needs take as they are shaped by culture
and individual personality
Wants
• Wants backed by buying power
Demands
Customer Needs, Wants, and Demands

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and Customer Needs
• Market offerings are some
combination of products,
services, information, or
experiences offered to a
market to satisfy a need or
want
• Marketing myopia is
focusing only on existing
wants and losing sight of
underlying consumer
needs

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and Customer Needs
Customer Value and Satisfaction
Expectations
Customers
• Value and
satisfaction
Marketers
• Set the right level of
expectations
• Not too high or low

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Exchange is the act of obtaining a desired
object from someone by offering
something in return
and Customer Needs

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Designing a Customer-Driven
Marketing Strategy
Market segmentation refers
to dividing the markets into
segments of customers
Target marketing refers
to which segments to go
after
Selecting Customers to Serve

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Marketing Strategy
Demarketing is marketing to
reduce demand temporarily
or permanently; the aim is
not to destroy demand but
to reduce or shift it
Selecting Customers
to Serve

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Marketing Strategy
Production
concept
Product
concept
Selling
concept
Marketing
concept
Societal
concept
Marketing Management Orientations

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Marketing Strategy
Production concept is the idea that
consumers will favor products that are
available or highly affordable

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Marketing Strategy
Product concept is the idea that consumers
will favor products that offer the most
quality, performance, and features.
Organization should therefore devote its
energy to making continuous product
improvements.

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Marketing Strategy
Selling concept is the idea that consumers
will not buy enough of the firm’s products
unless it undertakes a large scale selling
and promotion effort

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Marketing Strategy
Marketing concept is the
idea that achieving
organizational goals
depends on knowing the
needs and wants of the
target markets and
delivering the desired
satisfactions better than
competitors do

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Marketing Strategy
Societal marketing concept
is the idea that a company
should make good marketing
decisions by considering
consumers’ wants, the
company’s requirements,
consumers’ long-term
interests, and society’s long-
run interests

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Marketing Strategy

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The marketing mix is the set of tools (four Ps)
the firm uses to implement its marketing
strategy. It includes product, price,
promotion, and place.
Integrated marketing program is a
comprehensive plan that communicates
and delivers the intended value to chosen
customers.
Preparing an Integrated Marketing
Plan and Program

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Building Customer Relationships
• The overall process of
building and maintaining
profitable customer
relationships by delivering
superior customer value
and satisfaction
Customer Relationship Management (CRM)

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Relationship Building Blocks: Customer Value
and Satisfaction
Customer-
perceived value
• The difference
between total
customer value
and total
customer cost
Customer
satisfaction
• The extent to
which a
product’s
perceived
performance
matches a
buyer’s
expectations

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Customer Relationship Levels and Tools
Basic Relationships
PSO
RELATIONSHIP
CARD
Full Partnerships
HOGS

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Partner relationship management involves
working closely with partners in other
company departments and outside the
company to jointly bring greater value to
customers

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• Partners inside the company is every
function area interacting with customers
– Electronically
– Cross-functional teams
• Partners outside the company is how
marketers connect with their suppliers,
channel partners, and competitors by
developing partnerships
Partner Relationship Management

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Capturing Value from Customers
• Customer lifetime value is the value of the
entire stream of purchases that the
customer would
make over a
lifetime of
patronage
Creating Customer Loyalty and Retention

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Share of customer is the portion of the
customer’s purchasing that a company gets
in its product categories
Growing Share of Customer

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Capturing Value from
Customers
Customer equity is
the total combined
customer lifetime
values of all of the
company’s
customers

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• Building the right relationships with the
right customers involves treating
customers as assets that need to be
managed and maximized
• Different types of customers require
different relationship management
strategies
– Build the right relationship with the right
customers
Building Customer Equity

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The Changing Marketing
Landscape
Digital age
Rapid
globalization
Ethics and
social
responsibility
Not-for-profit
marketing
Major Developments

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So, What Is Marketing?
Pulling It All Together

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Creating-and-Capturing-Customer-Value-18042020-013356pm-29032021-085208pm-02062022-055008pm.ppt

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