Summary
samenvatting marketing H1
- Course
- Institution
chapter 1, all chapters belong together for a summary of the entire course
[Show more]
Seller
Follow
colettetje2000
Content preview
Marketing Nathalie DensMarketing Principles and Practice
What is marketing?
- Marketing
= A social and managerial process by which individuals and groups obtain what they need
and want through creating and exchanging products and value with others
o Business context:
to build and maintain profitable customer relationships with stakeholders
o Applies anywhere ‘buyers’ have a choice: events, people, products, …
- Exchange
= The act of obtaining a desired object from someone by offering something in return
o At least 2 parties: each hold something of value to offer and must want to deal with
each other
Exchange creates value, gives people more consumption choices or possibilities
- Value
o Customer value:
the consumer’s assessment of the product’s capacity to satisfy their needs
o Perceived value:
how much it costs, the time/effort it takes to get the product
o Not always objective
- Consumer buying rules
= the one using an offering
o Initiator: initiates idea
o Influencer: influences
o Decider: ultimate buying decision
o Buyer: the one buying = customer
o Payer: pays
o User: consumes
o Gatekeeper: controls access
1
, Marketing Nathalie Dens
- Market orientation
= Organization-wide belief in delivering customer value
o Understanding consumer needs better than consumers themselves
o Creating products that meet existing and latent (underlying) needs
o Developing a market orientation:
Customer orientation:
creating superior value by continuously (re)developing offerings to meet
customer needs
Competitor orientation:
develop an understanding of its competitors’ strengths and weaknesses, and
its own capabilities and strategies
Interfunctional coordination:
requiring all the organization’s functions to work together for long-term
profit growth
Customer centricity:
not trying to please all customers, fulfilling needs in a profitable way
Marketing’s intellectual roots
- Influences:
o Industrial economics
Supply and demand (price, quantity)
Theories of income distribution, scale of operation, monopoly, competition,
…
o Psychological influences
Consumer behavior, motivation research, information processing
Persuasion, consumer personality, customer satisfaction, …
o Sociological influences
How groups of people behave: Demographics, class, motivation, customs,
culture
How communication passes through opinion leaders, …
o Anthropological influences
Qualitative approaches in researching consumer behavior
o Computer science influences
Digitization, recommendation systems, apps, …
- Sale vs marketing
o Sale = tip of the iceberg
short-term satisfaction, lesser input into customer design of the product, focus on
meeting existing demand
o Marketing
understanding your customers so well that you design a product that sells itself,
long-term satisfaction, greater input into customer design (co-creation), focus on
stimulation of demand
2
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 colettetje2000. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $3.35. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
85443 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now