100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Summary Abstract book Marketing Management CA$10.64   Add to cart
Quickly navigate to
Preview
  2.  
  3. Universiteit Leiden (UL)
  4.  
  5. Marketing Management

Summary

Summary Abstract book Marketing Management

2 reviews
 285 views  7 purchases
  • Course
  • Marketing Management
  • Institution
  • Universiteit Leiden (UL)
  • Book
  • Marketing

This is a summary of the book Marketing Management course within the specialization of Law and Business Administration and minor in Business Administration from Leiden University. It concerns the chapters 1, 3, 5 t / m 7, 9, 10, 12 & 14

Preview 1 out of 57  pages

Document information

  • No
  • Chapter 1, 3, 5, 6, 7, 9, 10, 12 & 14
  • October 14, 2016
  • 57
  • 2016/2017
  • Summary

Subjects

  • bedrijfswetenschappen
  • marketing management
  • rechtsgeleerdheid
  • recht en bedrijfswetenschappen

Connected book

book image

Book Title:

Author(s):

  • Edition:
  • ISBN:
  • Edition:

More summaries for

  • Marketing Management - lecture notes
  • Lecture notes the foundations of marketing
  • BUSI 2204 - Chapter 4 Summary - Marketing, ISBN: 9781292146508
All for this textbook (8)

Written for

  • Universiteit Leiden (UL)
  • Bedrijfswetenschappen
  • Marketing Management
All documents for this subject (4)

2  reviews

review-writer-avatar

By: ducogaillard • 7 year ago

Translated by Google

Weird english and many spelling mistakes, obviously not checked. Far too expensive for what you get. therefore be extended 2 stars

review-writer-avatar

By: navinvn • 7 year ago

Seller

avatar-seller
Floortjevm

Reviews received

Content preview

Summary Marketing Management
Part 1: Defining Marketing and the marketing process

Chapter 1: Marketing: Creating customer value and engagement

The goal of marketing is to attract new customers by promising superior value and to keep and grow
current customers by delivering satisfaction. Messages reach you directly, personally and
interactively. Marketers want to become a part of your life and enrich your experiences with their
brands. Marketing must be understood not in the old sense of making a sale (telling and selling), but
in the new sense of satisfying customer needs. Selling and advertising are only part of a larger
marketing mix. So marketing is: the process by which companies engage customers, build strong
customer relationships and create customer value in order to capture value from customers in
return.

Marketing process

1. Understand the marketplace and customer needs and wants
a. Needs, wants and demands

Needs are states of felt deprivation (physical needs, social needs and individual needs). Wants are
the form human needs take as they are shaped by culture and individual personality (an American
needs food but wants a Big Mac). Demands are human wants that are backed by buying power.

b. Market offerings (products, services, experiences)

Consumers needs and wants are fulfilled through market offerings: combination of products,
services, information or experiences offered to a market to satisfy a need of a want. It is nog limited
to physical products, but include also services. Many sellers suffer from 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 are so taken with their products that they focus only
on existing wants and lose sight of underlying customer needs. They forget that a product is only a
tool to solve a consumer problem.

c. Value and satisfaction

Customers form expectations about the value and satisfaction of products and satisfied customers
buy again and tell others about their good experiences and vice versa. 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.

d. Exchanges and relationships

Exchange is the act of obtaining a desired object from someone by offering something in return.
Companies want to build strong relationships by consistently delivering superior customers value.

e. Markets

A market is the set of actual and potential buyers of a product or service. These buyers share a
particular need or want that can be satisfied through exchange relationships. Creating relationships
takes work. Today’s marketers must also deal effectively with customer-managed relationships. A
company’s success at engaging customers and building profitable relationships depends not only on
its own actions but also on how well the entire system serves the needs of final customers.


1

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

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

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 Floortjevm. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$10.64. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

81989 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
CA$10.64  7x  sold
  • (2)
  Add to cart