Class notes
Theories of Marketing - Knowledge clips + articles
- Course
- Institution
This summary includes all articles and knowledge clips and discusses some of the lectures.
[Show more]
Seller
Follow
aimeearp
Reviews received
Content preview
Theories of MarketingLecture 1 – introduction to the course
What is marketing:
- Functions & processes/activities to deliver customer value
- A business philosophy
In the past marketing was really about the distribution and getting the product from A to B
after that it became more about the promotion of the product/service. Now it is about
promoting, but also really about customer value and customer experience.
The change
- Marketing (1985) is the process of planning and executing conception, pricing,
promotion and distribution of goods, ideas and services to create exchanges that
satisfy organizational and individual goals
- Marketing (2012) Is the activity, set of institution and processes for creating,
communication, delivering, and exchanging offerings that have value for customers,
clients, partners and society at large
From transaction & product driven to relation & value driven
Share of wallet: How can I get as much of the wallet of the customer in my category (loyalty
measure)
To main marketing decisions
- Segmentation understanding consumers
- Value differentiation creating customer value
,Lecture 2 – topic 1
Article 1 & 2 : Slater and Narver
1. measurement of market orientation
- Reliability
- construct validity
2. Effects on profitability
The effect of MO diminished overt time, because it was not ‘special’ anymore and more and
more companies used it. But there is still a significant positive effect, so it is still important.
Even when there is no significant effect anymore it is kind of a ‘minimum’ you have to do
because all companies are doing it. So when you don’t implement MO, you might have a
negative effect on the profit. MO therefore, is not obsolete.
Is market orientation enough? next phase
Is one more important than the other? Not necessarily. Try to find a mix: total MO
,Marketing system recent changes:
- Suppliers network
- Co-creation and co-production
- Consumer networks
V1: product centric. V2: customer centric. V3: Value centric. V4: digital centric
Lecture 3 – Topic 1
Market orientation crucial for sustainable superior customer value
- customer orientation
- Competitor orientation
- Interfunctional coordination
Customer experience focus on
- Full sensorial response rather than need satisfaction
- Customer journey rather ‘product offering”
- Other experiences beyond own company rather than alliances
, Customer experience management
- Cultural mindset
- Set strategic directions
- Central firm capabilities
Customer engagement
- CE involves behavior that goes beyond transactions: customer purchases, customer
referrals, customer influence and customer knowledge
- ‘ a customer’s voluntary resource contribution to a firm’s marketing function going
beyond financial purchase. Marketing function; W-o-M, blogs, reviews, new ideas
How to create that kind of behavior:
- Just ask/pay them
- Entice them by your immersive experiences
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 aimeearp. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $6.52. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
80467 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now
Recently viewed by you
Summary ·
Medische kennis samenvatting leertaken
