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Samenvatting marketing: the fundamentals (boek + slides)
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This document provides a summary of marketing, the fundamentals. It includes information from both the slides and the book.
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Samenvatting MarketingContents
Samenvatting Marketing ......................................................................................................................... 1
Introduction ......................................................................................................................................... 3
1. What is marketing? ................................................................................................................ 3
2. Marketing to co-create value ................................................................................................. 3
3. Marketing as value co-creation process................................................................................. 5
4. Application to IKEA ................................................................................................................. 6
5. Key take-aways ....................................................................................................................... 6
Marketing analysis ............................................................................................................................... 7
1. Problem of marketing myopia................................................................................................ 7
2. From needs/wants to jobs-to-be-done .................................................................................. 7
3. Marketing analysis at multiple levels ..................................................................................... 9
4. SWOT .................................................................................................................................... 13
5. Toward marketing intelligence ............................................................................................. 16
6. Key take-aways ..................................................................................................................... 17
Marketing strategy ............................................................................................................................ 18
1. Hierarchy of strategies ......................................................................................................... 18
2. Business strategy.................................................................................................................. 18
3. Marketing strategy ............................................................................................................... 20
4. Managing customer dynamics ............................................................................................. 25
5. Managing sustainable competitive advantage (SCA) ........................................................... 26
6. Managing resource trade-offs .............................................................................................. 27
7. Key take-aways ..................................................................................................................... 28
Marketing strategy ............................................................................................................................ 30
1. Experience management ..................................................................................................... 30
2. Engagement management ................................................................................................... 34
3. Green and social marketing ................................................................................................. 37
4. Green & social marketing advices ........................................................................................ 39
5. Key take-aways ..................................................................................................................... 41
Marketing implementation................................................................................................................ 41
0. Introduction ......................................................................................................................... 41
1. Product ................................................................................................................................. 42
2. Place ..................................................................................................................................... 49
3. Promotion ............................................................................................................................ 52
, 4. Price ..................................................................................................................................... 57
5. P x P x P x P ........................................................................................................................... 65
6. Key take-aways ..................................................................................................................... 66
7. Physical evidence (extended marketing mix) ....................................................................... 67
8. People (extended marketing mix) ........................................................................................ 68
9. Process (extended marketing mix) ....................................................................................... 72
10. Transformative Ps (extended marketing mix) .................................................................. 74
Marketing evaluation......................................................................................................................... 75
1. What is marketing evaluation and why is it relevant? ......................................................... 75
2. How to start with the marketing evaluation? ...................................................................... 76
3. Metrics at the marketing mix level ...................................................................................... 76
4. Value at the heart of marketing ........................................................................................... 77
5. Big data ................................................................................................................................ 84
6. Marketing ethics .................................................................................................................. 85
7. Illustrative example .............................................................................................................. 86
8. Key take-aways ..................................................................................................................... 87
Marketing evaluation – Data analytics .............................................................................................. 87
1. introduction ......................................................................................................................... 87
2. Data-driven marketing & big data ........................................................................................ 89
3. Methodologies........................................................................................................................... 92
4. Key take-aways ..................................................................................................................... 94
,Introduction
1. What is marketing?
1.1 Evolution of the marketing definition
• Marketing is the performance of business activities that direct the flow of goods and services from
producers to consumers (30’s)
• Marketing is the process of planning and executing the conception, pricing, promotion and distribution of
goods, ideas and services to create exchanges that satisfy individual and organizational goals (80’s)
• Marketing is an organizational function and 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 (2004) => not only value for customers
• Marketing is the activity, set of institutions and processes for creating, communicating, delivering and
exchanging offerings that have value for customers, clients, partners and society at large (2007) => multiple
stakeholders
1.2 The essence of marketing
Marketing as a process to co-create value => value for customers and other stakeholders
Marketing to co-create value with organization, customers, employees, shareholders, communities,
environment, whole wide world
1.3 Shifts in marketing
Traditional marketing: Role of marketing in organization shifts from tactics/strategy to process/culture
Digital marketing: Focus on leveraging technology to create and co-create value in innovative ways
Service marketing: Shift in nature of offerings from goods and service to staging unique customer experiences
Transformative marketing: Shift from market orientation to sustainable market orientation
2. Marketing to co-create value
2.1 Value as core concept
Value for customers and other stakeholders, BUT different views on what value entails
2.2 Trade-off view on value
Zeithaml
Perceived value = evaluative judgment that results from trade-offs between the perceived benefits (quality) and
costs (price) of a product or service
̶ “value is low price”
̶ “value is the quality I get for the price I pay”
̶ “value is what I get for what I give”
̶ “value is whatever I want in a product”
2.3 Experiential view on value
Holbrook
Value = core element of the consumption experience which varies along three dimensions
Intrinsic aspect = inherent in what you believe/ naturally satisfying
Extrinsic aspect = it serves a purpose
Social aspect = self-oriented or other-oriented
, Leroi-Werelds
Value is about benefits and costs, but they vary in different dimensions
2.4 Evolutions in value thinking
Zeithaml 2.0
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