Principles of marketing: Lecture 44 provide students with knowledge about: simple marketing system; marketing 4P; actors and forces in a modern marketing system; change in perspective; customer relationship management; product/market expansion grid;... Please refer to this lesson for details!
MGT301 Principles of Marketing Lecture44 Summary of Lecture43 Marketing and Society • The current issues and marketing can be divided into two major subjects: – Ethics – Social responsibility • The two concepts are very closely related Consumerism The Right to Be Safe The Right to Be Informed Basic Consumer Rights The Right to Be Heard The Right to Choose Today’s Topics Review1 Marketing Involves having the Right Product available in the Right Place at the Right Time and making sure that the customer is Aware of the Product Simple Marketing System Communication Product/Service Producer/Seller Money Feedback Consumer Marketing Segmentation Segmentation Variables Geographical segmentation Demographic segmentation Psychographic segmentation Behavioral segmentation Target Marketing Strategies Market Coverage Strategies Company Company Marketing Marketing Mix Mix Market Market A. Undifferentiated Marketing Company Company Marketing Marketing Mix Mix 11 Segment Segment 11 Company Company Marketing Marketing Mix Mix 22 Segment Segment 22 Company Company Marketing Marketing Mix Mix 33 Segment Segment 33 B. Differentiated Marketing Company Company Marketing Marketing Mix Mix Segment Segment 11 Segment Segment 22 Segment Segment 33 C. Concentrated Marketing Company Company Marketing Marketing Mix Mix Individual Individual Customer Customer D. Custom Marketing Strategy or Micromarketing Strategy Requirements for Effective Segmentation Measurable Measurable • Size, purchasing power, profiles of segments can be measured Accessible Accessible • Segments must be effectively reached and served Substantial Substantial • Segments must be large or profitable enough to serve Differential Differential • Segments must respond differently to different marketing mix elements & actions Actionable Actionable • Must be able to attract and serve the segments Marketing Mix 4 Ps Levels of Products Augmented Product Augmented Product Installation Packaging Brand Name Delivery & Credit Quality Level Core Core Benefit or Benefit or Service Service Features Design Warranty Actual Product Actual Product Core Product Core Product After Sale Service Enough for today. . Summary Review1 Next… Review2 MGT301 Principles of Marketing Lecture44 ...Summary of? ? Lecture? ?43 Marketing and Society • The current issues and marketing can be divided into two major subjects:... which individuals and groups obtain what they need and want through creating, offering and exchanging products? ?of? ?value with others Kotler 1994 Actors and Forces in a Modern Marketing System... Management CRM CRM – Customer relationship management . . “is the overall process? ?of? ?building and maintaining profitable customer relationships by delivering superior customer value and satisfaction.”