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MOC summary International Communication 1.2
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This is my summary for Marketing Communication year 1 block 2 19/20 of the course International Communication at Hanze University of Applied Sciences.
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Voorbeeld van de inhoud
1C1B2 Block 1.2
Marketing Communication
Lectures, lessons and book summary
International Communication year 1
Claire Jacklin 03/01/2020
, Marketing Communication 2
Table of Contents
C1B2 MOC Chp. 1 Introduction to Marketing ......................................................................................... 3
C1B2 MOC Chp. 2 Company and Marketing Strategy ........................................................................... 12
C1B2 MOC Chp. 3 Analysing the Marketing Environment .................................................................... 14
C1B2 MOC Chp. 5 Buyer Behaviours ..................................................................................................... 20
C1B2 MOC Chp. 7: Customer Value-Driven Marketing Strategy........................................................... 24
C1B2 MOC Chp. 18: Creating Competitive Advantage .......................................................................... 32
C1B2 MOC Chp. 8: Products, Services and Brands ................................................................................ 35
C1B2 MOC Chp. 9 (289-297): Product Life-Cycle................................................................................... 47
C1B2 MOC Chp. 14 Engaging Customers and Communicating Customer Value .................................. 52
C1B2 MOC Chp. 17: Direct, Online, Social Media and Mobile Marketing ............................................. 61
C1B2 MOC Chp. 10: Pricing: Understanding and capturing Customer Value ....................................... 71
C1B2 MOC Chp. 11: Pricing Strategies: Additional Considerations....................................................... 74
C1B2 MOC Chp. 12 Marketing Channels: Delivering Customer Value .................................................. 78
, C1B2 MOC Chp. 1 Introduction to Marketing 3
C1B2 MOC Chp. 1 Introduction to Marketing
Chapter 1: Marketing
Students understand that “marketing” is a complex concept, are aware of the
1. definition of what marketing is or could be compared to the product concept, production
concept, selling and societal concepts
2. Can identify the difference between needs, wants, demand, market offering
3. Recognize the five steps in the marketing process
4. Understand the complexity of engaging customers and customer relationship management.
5. Students are able to describe the key features of the Abell model for mapping out the
market orientation of a company. (not discussed in Chapter 1 but discussed in the general
lecture).
Marketing is:
The process by which companies create value for customers and build strong customer relationships
to capture value from customers in return
OR
Marketing is the realization of organizational objectives (making profit) by fulfilling customer needs
while delivering value and satisfaction
- About emotions
- Based on the experience the product can offer (to create value proposition)
Marketing Mix (the 4 P’s)
Product
Place Target Market
Price
Promotion
Example Nespresso
Product: is a superior coffee compared to filter coffee. (But keep in mind real profit comes from the
capsules)
Place: Making the product exclusive by selling it only in 100% Nespresso luxury shops and online
Promotion: Using celebrity in a semi fun way to gain maximum attention from the public. (for buyer
and potential buyers). Advertising
Price: High end.
- With Nespresso the real innovation was on customer relationships
- Nespresso decided to go a different way. In 1988 they started mailing their coffee pods to
their customers directly. This was indeed a new sales channel, a new customer relationship
model and an important part of the new Nespresso business model.
, C1B2 MOC Chp. 1 Introduction to Marketing 4
The Marketing Process
In the first four steps, companies work to understand consumers, create customer value, and build
strong customer relationships.
In the final step, companies reap the rewards of creating superior customer value. By creating value
for consumers, they in turn capture value from consumers in the form of sales, profits, and long-term
customer equity.
Focus more on the customer relationship steps—understanding customers, building customer
relationships, and capturing value from customers
Customer Needs, Wants, and Demands
• Product is a tool of satisfying the needs of customers.
• The offering is not just the product but everything related to the (purchase and use of)
product e.g. services, information, experiences.
• Customer Value and Satisfaction involves setting the right level of expectations between
customers and marketers.
o Outstanding marketing companies go to great lengths to learn about and understand
their customers’ needs, wants, and demands.
o They conduct consumer research and analyze mountains of customer data, and
observe customers as they shop and interact, offline and oline.
1. Needs are about basics that we need to survive. Food, basic clothes, safety etc.
2. Wants are needs but then shaped our culture and individual personality
3. Demands are wants influenced by the amount of money you have
The most basic concept underlying marketing is the human needs. An American needs food but
wants a Big Mac, fries, and a soft drink. Wants are shaped by one’s society and are described in
terms of objects that will satisfy those needs. When backed up by buying Powers, wants become
demands.
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