This summary is a compilation of all the lectures slides and chapters of the book Principles of Marketing, 7th Edition, by Philip Kotler, Gary Armstrong, Lloyd C. Harris, Nigel Piercy.
This summary contains the following chapters:
1,2,3,5,6,7,8,9,12,18, 20
PRINCIPLES OF MARKETING
Summary Marketing: lecture slides and chapters
book
,Table of Contents:
Lecture 1.................................................................................................................................................2
PowerPoint slides:..............................................................................................................................2
Chapter 1 Marketing: creating customer value and engagement:.................................................2
Book:..................................................................................................................................................7
Chapter 1 Marketing: creating customer value and engagement:.................................................7
Lecture 2...............................................................................................................................................11
PowerPoint slides:............................................................................................................................11
Chapter 2 Company and marketing strategy: partnering to build customer relationships:..........11
Chapter 3 Analysing the marketing environment.........................................................................16
Book:................................................................................................................................................21
Chapter 2 Company and marketing strategy; partnering to build customer engagement, value
and relationships:.........................................................................................................................21
Chapter 3 Analysing the marketing environment.........................................................................22
Lecture 3...............................................................................................................................................25
PowerPoint slides:............................................................................................................................25
Chapter 5 Consumer markets & consumer buyer behaviour:......................................................25
Chapter 6 Business markets and business buyer behaviour:........................................................30
Book:................................................................................................................................................32
Chapter 5 Consumer markets & consumer buyer behaviour:......................................................32
Chapter 6 Business markets and business buyer behaviour:........................................................38
Lecture 4...............................................................................................................................................42
PowerPoint slides:............................................................................................................................42
Chapter 7 Customer-driven marketing strategy: creating value for target customers:................42
Chapter 8 Products, services and brands: building customer value:............................................48
Book:................................................................................................................................................53
Chapter 7 Customer – driven marketing strategy: creating value target customers....................53
Chapter 8 Products, services and brands: building customer value:............................................56
Lecture 5...............................................................................................................................................61
PowerPoint slides:............................................................................................................................61
Chapter 9 New product development and PLC strategies:...........................................................61
Book:................................................................................................................................................66
Chapter 12 Marketing channels: delivering customer value.........................................................67
Book:................................................................................................................................................75
1
, Chapter 18 Creating competitive advantage:...............................................................................75
Chapter 20 Social responsibility and ethics:.................................................................................80
PowerPoint slides:................................................................................................................................84
Chapter 18 Creating competitive advantage:...............................................................................84
Chapter 20 Sustainable marketing: social responsibility and ethics:............................................89
Lecture 1
PowerPoint slides:
Chapter 1 Marketing: creating customer value and engagement:
Definition: What is marketing?
Marketing can be defined as satisfying needs and wants of a target market for a
price while building customer relationships.
Definition evolution: What is marketing?
Marketing is a process by which companies create value for customers and build
strong customer relationships to capture value from customers in return.
The marketing process:
Understand the market place and customer needs and wants
Design a customer – driven marketing strategy
Construct an integrated marketing program that delivers superior value
Build profitable relationships and create customer delight
Capture value from customers in return:
Capture value from customer to profits and customers equity.
Core concepts: Understanding the marketplace and customer needs.
Needs, wants and demands
Market offering
Value, satisfaction and quality
Exchanges, transactions and relationships
Markets and the marketing system
Customer needs, wants and demands:
Needs: States of deprivation
Physical—food, clothing,
warmth and safety,
Social—belonging and
affection, Individual—
knowledge and self-expression
Wants Form that needs take as they
are shaped by culture.
Wants and individual
personality
Demands: Wants backed by buying power
2
, Understanding the marketplace and customer needs:
Market offerings: a combination of products, services, information, or
experiences offered to a market to satisfy a need or want.
Marketing myopia: Focuses only on existing wants and losing sight of
underlying consumer needs.
What is customer value?
Customer value is the consumer’s assessment (not yours!) of the product’s
overall capacity to satisfy his or her needs.
What is customer satisfaction?
Customer satisfaction is the extent to which a product’s perceived performance
matches expectations. If the product’s performance falls short of expectations,
the buyer is dissatisfied, but if performance matches or exceeds expectations,
the buyer is satisfied.
This can be managed via:
Price
Manage expectations
The Connection
Satisfaction Expectations (perceptions)
Value Level of Satisfaction
Quality Features/Attribute with ability to
satisfy
Customer value and satisfaction expectations
Marketers Customers
Set the right level of Value
expectations satisfaction
Not too high or low
The basis of marketing: exchange:
The act of obtaining a desired object from someone by offering something in
return.
Market:
The set of actual and potential buyers of a product.
Suppliers Company Marketing Consumers
intermediars
Competitor
Major environmental forces:
Demographic, Economic, Natural, Technological, Political,
Social / cultural
3
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