Summary
Samenvatting Marketing Bedrijfskunde
- Course
- Institution
Samenvatting Marketing Bedrijfskunde
[Show more]
Seller
Follow
MaartjedeSnoo
Reviews received
Content preview
InhoudsopgaveMarketing – boek Kotler 18th edition.......................................................................................................................1
Chapter 1: Marketing: creating and capturing customer value..........................................................................2
Chapter 3: Analyzing the marketing environment...............................................................................................5
Chapter 4: Managing marketing information to gain customer insights............................................................6
Chapter 5: Consumer markets and consumer buying behavior...........................................................................8
Chapter 7: Customer-driven marketing strategy: creating value for target customers....................................10
Chapter 8: Products, services and brands: building customer value.................................................................12
Chapter 10: Pricing: understanding and capturing customer value..................................................................15
Chapter 12: Marketing channels: delivering customer value............................................................................16
Chapter 14: Communicating customer value: integrated marketing communications strategy......................20
Chapter 20: Sustainable marketing: social responsibility and ethics.................................................................21
Objectives per chapter.......................................................................................................................................22
Chapter 1........................................................................................................................................................22
Chapter 3........................................................................................................................................................23
Chapter 4........................................................................................................................................................24
Chapter 5........................................................................................................................................................25
Chapter 7........................................................................................................................................................26
Chapter 8........................................................................................................................................................28
Chapter 10......................................................................................................................................................29
Chapter 12......................................................................................................................................................30
Chapter 14......................................................................................................................................................32
Chapter 20......................................................................................................................................................33
, lOMoARcPSD|11911780
Chapter 1: Marketing: creating and capturing customer value
What is marketing?
Marketing = the process by which companies create value for customers and build strong customer
relationships to capture value from customers in return.
The marketing process
Step 1: Understanding the marketplace and customer needs
As a first step, marketers need to understand customer needs and wants and the marketplace in which
they operate. We examine five core customer and marketplace concepts: (1) needs, wants, and
demands; (2) market offerings (products, services, and experiences); (3) value and satisfaction; (4)
exchanges and relationships; and (5) markets.
Customer needs, wants and demands
Needs: basic physical needs, social needs for belonging and individual needs for knowledge.
Wants: needs that are shaped by culture and individual personality - An American needs food but wants
a Big Mac.
Demands: wants that are backed up by buying power.
Customer needs and wants are fulfilled through market offerings.
Market offerings (products, services and experiences)
Market offerings: some combination of products, services, information, or experiences offered to a market to
satisfy a need or want. More broadly, market offerings also include other entities, such as persons,
places, organizations, information, and ideas.
Marketing myopia: the mistake of paying more attention to the specific products a company offers than to
the benefits and experiences produced by these products – they lose sight of underlying customer
needs.
Customer value and satisfaction
Marketers must be careful to set the right level of expectations. If they set expectations too low, they
may satisfy those who buy but fail to attract enough buyers. If they set expectations too high, buyers
will be disappointed. Customer value and customer satisfaction are key building blocks for developing
and managing customer relationships.
, lOMoARcPSD|11911780
Exchanges and relationships
Marketing occurs when people decide to satisfy needs + wants through exchange relationships.
Exchange = ruilen -> marketer tries to get a response to some market offering.
Markets
A market is the set of actual and potential buyers of a product/service. Marketers also need to take into
account the customer-managed relationships – how should our customers reach us?
Step 2: Designing a customer-driven marketing strategy
Once it fully understands the consumers + marketplace, marketing management can design a customer-
driven strategy can be built.
Selecting customers to serve
Via market segmentation, target marketing.
Choosing a value proposition
Via differentiation, and positioning.
A brand’s value proposition is the set of benefits or values it promises to deliver to consumers to satisfy
their needs.
Marketing management orientations
What philosophy should guide these marketing strategies? What weight should be given to the interest
of the customers, organization + society?
5 alternative concepts under which organizations design + carry out their marketing strategies:
Production -> the idea that consumers will favor products that are available and highly
affordable and that the organization should therefore focus on improving production and distribution
efficiency.
Product -> the idea that consumers will favor products that offer the most quality, performance, and
features and that the organization should therefore devote its energy to making continuous product
improvements.
Selling -> the idea that consumers will not buy enough of the firm’s products unless it undertakes a
large-scale selling and promotion effort.
Marketing -> a philosophy that holds that achieving organizational goals depends on knowing the needs
and wants of target markets and delivering the desired satisfactions better than competitors do.
Societal marketing concepts -> the idea that a company’s marketing decisions should consider
consumers’ wants, the company’s requirements, consumers’ long-run interests, and society’s long-run
interests – sustainable marketing, socially and environmentally responsible marketing.
, lOMoARcPSD|11911780
Step 3: Preparing an integrated marketing plan and program
The marketing program transforms the marketing strategy into action: it consists of the marketing mix
– the 4 P’s: product
price place promotion Physical People Process
The firm must blend each marketing mix tool into a comprehensive integrated marketing program that
communicates and delivers the intended value to chosen customers.
Step 4: Building customer relationships – the most important!
The first three steps in the marketing process—understanding the marketplace and customer needs,
designing a customer-driven marketing strategy, and constructing a marketing program—all lead up to
the fourth and most important step: building profitable customer relationships.
Customer relationship management: the overall process of building and maintaining profitable
customer relationships by delivering superior customer value and satisfaction. It deals with all aspects
of acquiring, keeping, and growing customers.
The key to building lasting customer relationships = create superior customer value + satisfaction.
Satis 昀椀 ed customers are more likely to be loyal customers and give the company a larger share of their
business.
Customer perceived value = the customer’s evaluation of the difference between all the benefits and all
the costs of a marketing offer relative to those of competing offers.
Consumer-generated marketing: brand exchanges created by consumers themselves—both invited and
uninvited— by which consumers are playing an increasing role in shaping their own brand experiences
and those of other consumers. -> consumer-to-consumer.
Capturing value from customers
The final step involves capturing value in return in the form of current and future sales, market share,
and profits. By creating superior customer value, the firm creates highly satisfied customers who stay
loyal and buy more. This, in turn, means greater long-run returns for the firm.
The outcomes of creating customer value:
Creating customer loyalty and retention
To capture customer lifetime value -> the value of the entire stream of purchases that the customer
would make over a lifetime of patronage.
Growing share of customer
Good customer relationship management can help marketers increase their share of customer -> the
share they get of the customer’s purchasing in their product categories. This can be achieved by cross-
selling and up-selling.
Building customer equity
The ultimate aim of CRM is to produce high customer equity.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller MaartjedeSnoo. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $6.88. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
48298 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 15 years now