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UvA Marketing Book Summary
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- Universiteit Van Amsterdam (UvA)
UvA Marketing book and lectures (except for the final one) in-depth summary for the exam
[Meer zien]Voorbeeld 4 van de 61 pagina's
Voorbeeld 4 van de 61 pagina's
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Marketing NotesChapter 1
- the value of marketing: marketing’s value extends to society as a whole
- what is marketing: about identifying and meeting human and social needs
- shorter definition: meeting needs profitably
- marketing management is the art and science of choosing target markets and getting, keeping, an
growing customers through creating, delivering, and communicating superior customer value
- selling is not the most important part of marketing
- the aim of marketing is to know and understand the customer so well that the product or
service fits him and sells itself
- ideally, marketing should result in a customer who is ready to buy
- what is marketed: goods, services, events, experiences, persons, places, properties, organizations,
information, ideas
- who markets: a marketer is someone who seeks a response from another party (the prospect)
- marketer now mut properly manage all possible touchpoints: where a customer directly or indirectly
interacts with the company
- what is market: marketers use the term market to describe a customer group (need market, product
market, demographic market, geographic market, voter markets, labor markets, donor markets etc.)
- four key customer markets: consumer, business, global, nonprofit
- core marketing concepts:
- needs, wants, demands:
- Needs: the basic human requirement
- these needs become wants when directed to specific objects that might satisfy the
needs
- demands are wants for specific products backed by an ability to pay
- marketers do not create needs. needs preexist marketers
- types of needs:
- stated needs
- real needs
- unstated needs
- delight needs
- secret needs
- marketers works hard to shape consumers perceptions of the products, and help the
consumers learn what they want
- target markets, positioning, segmentation:
- marketers identify distinct segments of buyers by identifying demographic,
psychographic, behavioral differences between them - then decide which segment(s)
present the greates opportunities
- for each of these target markets, the firm develop a market offering that is positions
in target buyers’ minds as delivering some key benefits
,- offerings and brands
- value proposition that the company put forth to address customers' needs: a
set of benefits that satisfy those needs
- offering: the intangible value proposition (a combination of products,
servies, information, experiences)
- brand: an offering from a known source
- marketing channel
- 3 kinds of marketing channels:
- communication channel: delivers and receives messages from target
buyers and include newspapers etc
- distribution channel: helps display, sell, deliver the physical
product or service(s) to the buy or users
- service channel: includes warehouse, transportation, companies,
banks, insurance companies
- paid, owned, and earned media
- paid media: tv, mag, displays ads that allow marketers to show their ad or
brand for a fee
- owned media: communication channels marketers actually own
- earned media: streams in which consumers, the press, or other outsides
voluntarily communication something about the brand via word of mouth,
buzz, viral marketing methods
- impressions and engagement
- marketers now think of three screens or meansto reach consumers: TV,
internet, mobile
- impression occurs when conusmers view a communication, are a useful
metric for tracking the scope or breadth of a communication’s reach that
can also be compared across all communication types
- downside: impression dont provide any insight into the results of
viewing the communication
- engagement: the extent of a customer’s attention and active involvement
with a communication
- value and satisfaction
- the buyer chooses the offerings they perceives to deliver the most value: the
sum of the tangible and intangible benefits and costs
- customer value triad: quality, service, price
- value perceptions increase with quality and services but decrease
with price
- satisfaction: a person’s judgement of a product’s perceived performance in
relationship to expectation
- supply chain
- a longer channel stretching from raw materials to components to finished
products carried to final buyer
, - each company in the cahin captures only a certain percentage of the total
value generated by the supply chain’s value delivery system
- when a company acquires competitors or expands upstream or
downstream, its aim is to capture a higher percentage of supply
chain value
- competition
- includes all the actual and potential rival offerings and substitutes a buyer
might consider
- marketing environment
- 2 types of marketing environment:
- task environment: includes the actors engaged in producing,
distributing, promoting the offering
- broad environment: consists of six components: demographic,
environment, economic environment, social-cultural environment,
natural environment, technological environment, and
political-legal environment
- pay close attention to the trends and developments in
these and adjust their marketing strategies as needed
- the new marketing realities
- technology
- globalization
- social responsibility
- the changed marketplace:
- new consumer capabilities;
- can use the internet as powerful info and purchasing aid
- can search, communicate, purchase on the move
- can tap into social media to share opinions and express loyalty
- can actively interact with companies
- can reject marketing they find inappropriate
- new company capabilities
- can use the internet as a powerful info and sales channel, including for individually
differentiated goods
- can collect fuller and richer info about markets, customers, prospects, competitors
- can reach customers quickly and efficiently via social media and mobile marketing,
sending targeted ads, coupons, and info
- can improve purchasing, recruiting, training, and internal and external
communication
- can improve cost efficiently
- While globalization has created intense competiion among domestic and foreign brands, teh rise of
private labels (makerket by powerful retailers) and mega-brands (and brand extended into related
product categories) plus a trend towards deregulation and privatization have also increased
competition
, - Countries have deregualted industries to create greate competition and growth
opportunities
- Company orientation toward the marketplace
- The production concept: one of the oldest concepts in business
- Consumers prefer products that are widely available and inexpensive
- Manages of production-oriented businesses concentrated on achieving high
production efficiency, low cost, mass distribution
- Marketers use the production concept when they want to expand the market
- The product concept:
- Consumers favor products offering the most quality, performance, or innovative
features
- However, a good product also needed to be properly priced, distributed, advertised,
and sold to be successful
- The selling concept:
- Consumers and businesses, if left alone, wont buy enough of the organization’s
products
- Most practiced with unsought goods
- Marketing based on hard selling is risky because it assumes that customers
may even buy the products again
- Selling focuses on the needs of the seller, and marketing on the needs of the
buyer]
- The Holistic Marketing concept:
- Based onthe development, design, and implementation of the marketing programs,
processes, and activities that recognize their breadth and interdependencies
- Acknowledges that everything matters in marketing
- A broad, integrated perspective is necessary
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