Clear summary of the book Marketing: An introduction. Created for the course Business Economics year 1 UVt. Can also be used for other courses, but a number of chapters might be missing.
marketing an introduction kotler marketing uvt university of tilburg year 1 summary summary
Connected book
Book Title:
Author(s):
Edition:
ISBN:
Edition:
Written for
Tilburg University (UVT)
Bedrijfseconomie
Marketing
All documents for this subject (8)
Seller
Follow
UvTstudent98
Reviews received
Content preview
Marketing summary
Inhoud
Chapter 1 Marketing: Managing profitable customer relationships.......................................................1
Chapter 2 Company and marketing strategy: partnering to build customer relationships.....................2
Chapter 3 The marketing environment..................................................................................................3
Chapter 6 Segmentation, targeting and positioning: building the right relationships with the right
customers...............................................................................................................................................5
Chapter 7 Product, services and branding strategy................................................................................6
Chapter 8 Developing new products and managing the product life cycle............................................8
Planning after midterm:.......................................................................................................................10
Chapter 9 Pricing..................................................................................................................................10
Chapter 12 Communicating customer value: advertising, sales promotion and public relationships. .12
Chapter 10 Marketing channels and supply chain management..........................................................14
Chapter 11 Retailing and wholesaling..................................................................................................17
Chapter 14 Marketing in the digital age...............................................................................................18
Chapter 16 Ethics, social responsibility and sustainability....................................................................20
Chapter 1 Marketing: Managing profitable customer
relationships
Marketing: The process by which companies create value for customers and build strong customer
relationships in order to capture value from customers in return
Steps of the marketing process:
1) Understand the marketplace and customer needs and wants
2) Design a customer-driven marketing strategy
3) Construct a marketing programme that delivers superior value
4) Build profitable relationships and create customer delight
5) Capture value from customers to create profits and customer quality
Needs: Basic part of the human make-up (e.g. food)
Wants: They are shaped by one’s society and are described in terms of objects that will satisfy needs
(e.g. fries)
Marketing myopia: Being obsessed with your own product, without looking at customers need
(Near-sightedness)
Marketing management: Choosing target markets and building profitable relationships with them
Marketing management orientations:
Production concept: It holds that customers will favour products that are available and
highly affordable
1
, Product concept: Customers will favour products that offer the most in quality, performance
and innovative features
Selling concept: Customers will only buy if enough products are sold with a enough
promotion effort
Marketing concept: Knowing the needs and wants of the target markets and delivering the
desired satisfactions better than competitors do
Societal marketing concept: It questions whether the pure marketing concept overlooks
possible conflicts between consumer short-term wants and consumer long-term welfare.
There are three considerations underlying:
o Society (human welfare)
o Consumers (Want satisfaction)
o Company (Profits)
Customer relationship management (CRM): Managing detailed information about individual
customers and carefully managing customer ‘touch points in order to maximise customer loyalty,
using the corporate memory about past transaction and interactions.
Partner relationship management: In order to bring more value to customers, it’s important that
marketers partner with others inside and outside the company
Customer lifetime value: Marketers want to ‘own’ customers for a lifetime
Customer equity: The sum of the combined discounted customer lifetime values of all the company’s
current and potential customers
Customer relationship groeps:
Butterflies: High profit potential and a short-term costumer
True friends: High profit potential and a long-term customer
Barnacles: Low profitability and a long-term customer
Strangers: Low profitability and a short-term customer
Chapter 2 Company and marketing strategy: partnering
to build customer relationships
Strategic planning: The process of developing and maintaining a strategic fit between the
organization’s goals and capabilities and its changing markets opportunities
Mission statement: The organization’s purpose: What is wants to accomplish in the larger
environment
Growth share matrix / Boston Consulting Group: A two-dimensional graph, which shows the growth
and share of the different products of a business portfolio. There are four types:
1) Stars: High growth and high-share businesses or products
2) Cash cows: Low growth and high-share businesses or products
3) Questions marks: Low-share businesses or products with high growth
4) Dogs: Low-share businesses or products with low growth
Product-market expansion grid: Shows four different developing strategies for growth and
downsizing:
1) Market penetration: Existing markets with an existing product
2
, 2) Market development: New market with an existing product
3) Product development: New product on an existing market
4) Diversification: New product with a new market
Value-delivery network: Partnering with other members of the value chain
Marketing segmentation: The process of dividing a market into distinct groups of buyers who have
different needs, characteristics or behavior and who might require separate products or marketing
programmes. Customers in a market segment will respond in a similar way to a given set of
marketing efforts
Target marketing: Evaluating each market segment’s attractiveness and selecting one or more
segments to enter
Market positioning and differentiation: Arranging for a product to occupy a clear, distinctive and
desirable place relative to competing products in the minds of the target consumers
Marketing mix: The 4 P’s (and the 4 C’s):
Product -> Customer solution
Price -> Customer cost
Place -> Convenience
Promotion -> Communication
SWOT-model: tool to analyze the current situation, using the following segments:
Strength: Internal capabilities that may help a company reach its objective
Weaknesses: Internal limitations that may interfere with a company’s ability to achieve its
objective
Opportunities: External factors that the company may be able to exploit to its advantage
Threats: Current and emerging external factors that may challenge the company’s
performance
Marketing audit: A tool for strategic control. It’s a comprehensive, systematic, independent and
periodic examination of a company’s environment, objectives, strategies and activies to determine
problem areas and opportunities
Return on marketing / marketing ROI:
net return ¿ a marketing investment ¿
costs of the marketing investment
Chapter 3 The marketing environment
Microenvironment: Individuals within the company itself who have influence on the marketing
Meso environment: Individuals, institutions and companies who alter the possibilities to serve the
customer. The company itself has direct influence on this environment
Macro environment: External big entities, which have big influence on the possibilities to serve the
customer. The company has at most indirect influence on this environment
Marketing intermediaries: Help the company to promote, sell and distribute its goods to the final
buyer. There are different types:
3
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 UvTstudent98. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $3.80. You're not tied to anything after your purchase.
