Lectures "Marketing management - Chapter 1: Defining marketing for the 21st century" provides students with the knowledge: The importance of marketing, the scope of marketing, core marketing concepts, the new marketing realities, company orientation toward the, marketplace. Invite you to refer to the disclosures.
CHAPTER 1 DEFINING MARKETING FOR THE 21ST CENTURY. Marketing is everywhere. Formally or informally, people and organizations engage in a vast number of activities that could be called marketing. Good marketing has become an increasingly vital ingredient for business success
In this chapter, the following content will be discussed: Companywide strategic planning: Defining Marketing ’s role, designing the business portfolio, planning Marketing: Partnering to build customer relationships, Marketing strategy and the Marketing mix, managing the Marketing effort, measuring and managing return on Marketing investment.
This chapter define marketing and the marketing process, explain the importance of understanding customers and identify the five core marketplace concepts, identify the elements of a customer-driven marketing strategy and discuss the marketing management orientations, discuss customer relationship management and creating value for and capturing value from customers, describe the major trends and forces changing the marketing landscape.
In this chapter you will learn: To review the marketing concept and the marketing mix, to comprehend the marketing environment within which managers must make decisions, to define marketing research, to understand the importance of marketing research in shaping marketing decisions, to learn when marketing research should and should not be conducted.
After reading this chapter, you will be able to: Define marketing and describe the exchange process; specify the functions of marketing; explain the marketing concept and its implications for developing marketing strategies; examine the development of a marketing strategy, including market segmentation and marketing mix;...
Chapter 1: Creating customer relationships and value through marketing. After reading chapter 1, you should be able to: Define marketing and identify the diverse factors influencing marketing activities, explain how marketing discovers and satisfies consumer needs, distinguish between marketing mix factors and environmental forces, explain how organizations build strong customer relationships and customer value through marketing, describe how today’s customer relationship era differs from prior eras.
Chapter 1: Creating customer relationships and value through marketing. After reading this chapter you should be able to: Define marketing and identify the diverse factors that influence marketing actions, explain how marketing discovers and satisfies consumer needs, distinguish between marketing mix factors and environmental forces, explain how organizations build strong customer relationships and customer value through marketing.
Chapter 1: Creating customer relationships and value through marketing. After reading this chapter you should be able to: Define marketing and identify the diverse factors influencing marketing activities, explain how marketing discovers and satisfies consumer needs, distinguish between marketing mix factors and environmental forces,...
HOW DO YOU DEFINE VALUE? CAN YOU MEASURE IT?
What are your products and services actually worth to
customers? Remarkably few suppliers in business markets
are able to answer those questions. And yet the abihty to
pinpoint the value of a product or service for one's customer
has never been more important.
The money market is traditionally defined as the market for financial
assets that have original maturities of one year or less. In essence, it is
the market for short-term debt instruments. Financial assets traded in
this market include such instruments as U.S. Treasury bills, commercial
paper, some medium-term notes, bankers acceptances, federal agency
discount paper, most certificates of deposit, repurchase agreements,
floating-rate agreements, and federal funds.
The Marketing Research Process: 11 Steps
Establishing the Need for Marketing Research • Step Two: Defining the Problem • Step Three: Establishing Research Objectives • Step Four: Determining Research Design • Step Five: Identifying Information Types and Sources
What is Marketing? Marketing has been defined by the AMA as an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.
Defining the Problem and Determining Research Objectives.
The Importance of Properly Defining the Problem
• Properly defining the problem is the most important step in the marketing research process. • If the wrong problem is defined, all the remaining steps in the marketing research process are wrong.
Determining How to Select a Sample
Basic Concepts in Sampling
• Population: the entire group under study as defined by research objectives – Researchers define populations in specific terms such as “heads of households located in areas served by the company who are responsible for making the pest control decision.”
2. Exploratory research design. 2.1 Chapter summary. This chapter will start with defining research design, classifying various designs and explaining the difference between exploratory and conclusive research designs by comparing and contrasting the basic research designs
In the a-posteriori (post-hoc, natural or market defined) approach of market segmen-
tation, market segments are identified by forming groups of consumers that are inter-
nally homogeneous and externally heterogeneous along a set of measured consumer
characteristics ( segmentation variables). That is, a-posteriori market segments are
based on responses of consumers that are available only after a survey has been con-
Most small to medium-sized businesses struggle with marketing. The marketing function is often treated as a cost center--ad hoc activities that don’t provide measurable results that can be tracked to the bottom line. This e-book defines our Strategic Marketing Process that businesses can use to standardize their daily, monthly and annual revenue-generating activities. It covers more than just “traditional” marketing and ties together all go-to-market business activities: strategic planning, financial planning and measurement, creative development, marketing execution and sales.