Chapter 1: Overview about business process Chapter 2: Customer Satisfaction, Value, and Retention Chapter 3: Implementing and Controlling Business Plan dapting Marketing to the New Economy – Everyone does the marketing – Build brands through performance, not just advertising – Customer retention rather than customer acquisition – From none to indepth customer satisfaction measurement – From overpromise, underdeliver to underpromise, overdeliver – The New Hybrid The business management process refers to the planning, implementation, and control of business activities. These activities are continuous, and decisions made in the past in one area can have implications on the other areas as well
Business Process Trần Văn Trang, Ph.D Business Operation Dept Contents • Chapter 1: Overview about business process • Chapter 2: Customer Satisfaction, Value, and Retention • Chapter 3: Implementing and Controlling Business Plans Chapter Overview about business process • Sales Concept, Marketing Concept and Customer Concept • Old Economy vs New Economy • Business process • Basic concepts about marketing: • Target marketing • Four Ps in a marketing mix and Ps for services • Difference between a marketing strategy, a marketing • plan, and a marketing program Customer equity and why business planners seek to increase it Contrasts Between the Sales Concept and the Marketing Concept Company Orientations Toward the Marketplace The Customer Concept Old Economy vs New Economy Old Economy New Economy Organize by product units Focus on profitable transactions Look primarily at financial scorecard Focus on shareholders Marketing does the marketing Build brands through advertising Focus on customer acquisition No customer satisfaction measurement Overpromise, underdeliver Organize by customer segments Focus on customer lifetime value Look also at marketing scorecard Focus on stakeholders Everyone does the marketing Build brands through behavior Focus on customer retention and growth Measure customer satisfaction and retention rate Underpromise, overdeliver Adapting Marketing to the New Economy – Everyone does the marketing – Build brands through performance, not just advertising – Customer retention rather than customer acquisition – From none to in-depth customer satisfaction measurement – From over-promise, under-deliver to underpromise, over-deliver – The New Hybrid The difference between target marketing and mass marketing Production-oriented manager sees everyone as basically similar and practices “mass marketing” Marketing-oriented manager sees everyone as different and practices “target marketing” Business management process • The business management process refers to the planning, implementation, and control of business activities These activities are continuous, and decisions made in the past in one area can have implications on the other areas as well Business management process • Planning : required because business managers must seek new opportunities • Implementation: the process of putting business plans into action • Control: assessing and evaluating business performance – When performance falls short of expectations, the business manager must take corrective action 10