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•Chapter1Marketing:CreatingandCapturingCustomerValue•CreatingandCapturingCustomerValue•WhatIsMarketing?•UnderstandtheMarketplaceandCustomerNeeds•DesigningaCustomer-DrivenMarketingStrategy•PreparinganIntegratedMarketingPlanandProgram•BuildingCustomerRelationships•CapturingValuefromCustomers•TheChangingMarketingLandscape•TopicOutline•WhatIsMarketing?Marketingisaprocessbywhichcompaniescreatevalueforcustomersandbuildstrongcustomerrelationshipstocapturevaluefromcustomersinreturn•WhatIsMarketing?•TheMarketingProcess•UnderstandingtheMarketplaceandCustomerNeeds•CustomerNeeds,Wants,andDemands•UnderstandingtheMarketplaceandCustomerNeeds•Marketofferingsaresomecombinationofproducts,services,information,orexperiencesofferedtoamarkettosatisfyaneedorwant•Marketingmyopiaisfocusingonlyonexistingwantsandlosingsightofunderlyingconsumerneeds•UnderstandingtheMarketplaceandCustomerNeeds•CustomerValueandSatisfaction•Expectations•UnderstandingtheMarketplaceandCustomerNeedsExchangeistheactofobtainingadesiredobjectfromsomeonebyofferingsomethinginreturn•UnderstandingtheMarketplaceandCustomerNeedsMarketsarethesetofactualandpotentialbuyersofaproduct•DesigningaCustomer-DrivenMarketingStrategyMarketingmanagementistheartandscienceofchoosingtargetmarketsandbuildingprofitablerelationshipswiththem–Whatcustomerswillweserve?–Howcanwebestservethesecustomers?–DesigningaCustomer-DrivenMarketingStrategyMarketsegmentationreferstodividingthemarketsintosegmentsofcustomersTargetmarketingreferstowhichsegmentstogoafter•SelectingCustomerstoServe•DesigningaCustomer-DrivenMarketingStrategy•ChoosingaValueProposition•DesigningaCustomer-DrivenMarketingStrategy•MarketingManagementOrientations•DesigningaCustomer-DrivenMarketingStrategyProductionconceptistheideathatconsumerswillfavorproductsthatareavailableorhighlyaffordable•MarketingManagementOrientations•DesigningaCustomer-DrivenMarketingStrategyProductconceptistheideathatconsumerswillfavorproductsthatofferthemostquality,performance,andfeatures.Organizationshouldthereforedevoteitsenergytomakingcontinuousproductimprovements.•MarketingManagementOrientations•DesigningaCustomer-DrivenMarketingStrategySellingconceptistheideathatconsumerswillnotbuyenoughofthefirm’sproductsunlessitundertakesalargescalesellingandpromotioneffort•MarketingManagementOrientations•DesigningaCustomer-DrivenMarketingStrategy•MarketingManagementOrientations•DesigningaCustomer-DrivenMarketingStrategy•MarketingManagementOrientations•DesigningaCustomer-DrivenMarketingStrategy•PreparinganIntegratedMarketingPlanandProgramThemarketingmix:setoftools(fourPs)thefirmusestoimplementitsmarketingstrategy.Itincludesproduct,price,promotion,andplace.Integratedmarketingprogram:comprehensiveplanthatcommunicatesanddeliverstheintendedvaluetochosencustomers.•BuildingCustomerRelationships•Theoverallprocessofbuildingandmaintainingprofitablecustomerrelationshipsbydeliveringsuperiorcustomervalueandsatisfaction•CustomerRelationshipManagement(CRM)•BuildingCustomerRelationships•RelationshipBuildingBlocks:CustomerValueandSatisfaction•BuildingCustomerRelationships•CustomerRelationshipLevelsandTools•BuildingCustomerRelationships•Relatingwithmorecarefullyselectedcustomersusesselectiverelationshipmanagementtotargetfewer,moreprofitablecustomers•Relatingmoredeeplyandinteractivelybyinco...