Principle Of Marketing

Mata Kuliah Manajemen Pemasaran

Chapter 1

creating and capturing customer Value

Topic Outline

•Define marketing and outline the steps in the marketing process

•Understanding the Marketplace and Customer Needs

•Designing a Customer-Driven Marketing Strategy

•Preparing an Integrated Marketing Plan and Program

•Building Customer Relationships

•Capturing Value from Customers

•The Changing Marketing Landscape

What is a Marketing?

Marketing is a process by which companies create value for customers and build strong 

customer relationships to capture value from customers in return 

Understanding the Marketplace and Customer Needs

Core Concepts

•Customer needs, wants, and demands

•Market offerings

•Customer Value and satisfaction

•Exchanges and relationships

•Markets

Customer Needs, Wants, and Demands

Needs : •States of deprivation

                •Physical—food, clothing, warmth, safety

                •Social—belonging and affection

                •Individual—knowledge and self-expression

Wants :

 •Form that human needs take as they are shaped by culture and individual personality

Demands :

 •Human wants backed by buying power

•Market offerings are some combination of products, services, information, or experiences offered to a market to satisfy a need or want

•Marketing myopia is focusing only on existing wants and losing sight of underlying consumer needs

Customer Value and Satisfaction Expectations

Exchange is the act of obtaining a desired object from someone by offering something in return

Markets are the set of actual and potential buyers of a product or service

Designing a Customer-Driven Marketing Strategy

Marketing management is the art and science of choosing target markets and building 

profitable relationships with them

–What customers will we serve?

–How can we best serve these customers?

Selecting Customers to Serve

Demarketing is marketing to reduce demand temporarily or permanently; the aim is not 

to destroy demand but to reduce or shift it

Choosing a Value Proposition

•The value proposition is the set of benefits or values a company promises to deliver to 

customers to satisfy their needs

Marketing Management Orientations

Production concept is the idea that consumers will favor products that are available or 
highly affordable

Product concept is the idea that consumers will favor products that offer the most 
quality, performance, and features.  Organizations should therefore devote its energy to
making continuous product improvements.

Product concept is the idea that consumers will favor products that offer the most 
quality, performance, and features.  Organizations should therefore devote its energy to 
making continuous product improvements.

Selling concept is the idea that consumers will not buy enough of the firm’s products 
unless it undertakes a large scale selling and promotion effort

Marketing concept is the idea that achieving organizational goals depends on knowing 
the needs and wants of the target markets and delivering the desired satisfactions better 
than competitors do

Societal marketing concept is the idea that a company should make good marketing 
decisions by considering consumers’ wants, the company’s requirements, consumers’ 
long-term interests, and society’s long-run interests

Preparing an Integrated Marketing Plan and Program

•The marketing mix is the set of tools (four Ps) the firm uses to implement its marketing 

strategy. It includes product, price, promotion, and place.

•Integrated marketing program is a comprehensive plan that communicates and 

delivers the intended value to chosen customers.

Building Customer Relationships

Customer Relationship Management (CRM)

The overall process of building and maintaining profitable customer relationships by 

delivering superior customer value and satisfaction

Relationship Building Blocks: Customer Value and Satisfaction

Customer Relationship Levels and Tools

- Basic Relationship

- Full Partnership

The Changing Nature of Customer Relationships

•Relating with more carefully selected customers uses selective relationship management 

to target fewer, more profitable customers

•Relating more deeply and interactively by incorporating more interactive two way 

relationships through blogs, Websites, online communities and social networks

Partner relationship management involves working closely with partners in other 

company departments and outside the company to jointly bring greater value to customers

Partner Relationship Management

•Partners inside the company is every function area interacting with customers

–Electronically

–Cross-functional teams

•Partners outside the company is how marketers connect with their suppliers, channel 

partners, and competitors by developing partnerships.

•Supply chain is a channel that stretches from raw materials to components to final 

products to final buyers

•Supply management

•Strategic partners

•Strategic alliances

Capturing Value from Customers

Creating Customer Loyalty and Retention

•Customer lifetime value is the value of the entire stream of purchases that the customer

 would make over a lifetime of patronage

Growing Share of Customer

Share of customer is the portion of the customer’s purchasing that a company gets in its 

product categories

Customer equity is the total combined customer lifetime values of all of the company’s 

customers

Building Customer Equity

•Building the right relationships with the right customers involves treating customers as 

assets that need to be managed and maximized

•Different types of customers require different relationship management strategies

–Build the right relationship with the right customers\

The New Marketing Landscape

Major Developments