Marie De Leon Rakshan Khateeb Ashley Kim Scott Jacobsen Creating Customer Value and Satisfaction in a Changing World.
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Marie De Leon Rakshan Khateeb Ashley Kim Scott Jacobsen Creating Customer Value and Satisfaction in a Changing World
What is Marketing? Satisfying customers while making a profit. needwant exchanging productsprocess of obtaining what people & organizations need and want through creating and exchanging products and value with others. Goals: attain new customers by promising superior value keep current customers by delivering satisfaction.
Consumers: Needs, Wants, & Demands Needs Needs – goods or services that is needed to survive [ie food] Wants Wants – goods & services not needed to survive but are still desired Demands Demands – goods and services people/society request
Marketing Management Marketing Management – Deals with managing demand, and managing customer relationships Demand Management - Finding and increasing demand, and sometimes changing or reducing demand such as in Demarketing Profitable Customer Relationships - Attracting new customers while keeping current customers
Connecting Technologies Connecting technologies in computers, telecommunications, information, & transportation help to: Communicate with customers in groups or one-on-one Distribute products more efficiently & effectively Learn about & track customers with databases Create products & services tailored to meet customer needs
The Internet Described as the technology behind New Economy. New applications include: “click-and-mortar” companies “click-only” companies Business-to-business e-commerce 2003: business-to-business transactions online expected to reach $3.6 trillion 2005: 500,000 companies expected to use the Internet conduct business.
Direct Connections With Customers Most marketers are targeting fewer, potentially more profitable customers. Many companies use technologies to let them connect more directly with their customers. – Products available via telephone, mail-order catalogs, kiosks and e-commerce – Some firms sell only via direct channels [ie Dell Computer] Direct marketing allows buyers to be active participants in shaping the marketing offer and process; some buyers design their own products online [ie landsend.com]
Connections With Marketing’s Partners Connecting inside the company Every employee must be customer-focused Teams coordinate efforts toward customers Connecting with outside partners Supply chain management Strategic alliances
Mike Park, Jessica Saks, Gary Laurita, Nikita Alexiades Strategic Planning and the Marketing Process
Concepts Strategic planning throughout the company and its four steps. Business portfolio designs and growth strategies. Efficient planning strategies and marketing’s role in strategic planning. The marketing process and the forces that influence it.
Strategic Planning Many companies operate without formal plans, however these plans can provide many benefits such as: -encouraging management to think ahead -forcing managers to create clear objectives and policies -helping the company to anticipate and respond quickly to changes and sudden developments.
Strategic Planning Strategic Planning is the Process of Developing and Maintaining a Strategic Fit Between the Organization’s Goals and Capabilities and Its Changing Marketing Opportunities.
Marketing in the New Internet Economy Dmitriy Perkis. Alex Tumarinson Joe Buzzetta Harmon Narula
Major Forces Shaping the Internet Age Digitalization & Connectivity Intranets – connect people within a company. Extranets – connect a company with its suppliers. Internet – connects users all around the world. Internet Explosion Explosive growth forms the heart of the New Economy. Companies must adopt Internet technology or risk being left behind.
Marketing Strategy in the New Internet Age Conducting business in the new Internet Age will call for a new model for marketing strategy and practice. All buying and selling may involve direct electronic connections between companies and customers. Marketing should play the lead role in shaping new company strategy.
e-Business, e-Commerce, and e-Marketing in the Internet Age e-Business Involves the Use of Intranets, Extranets & the Internet to Conduct a Company’s Business e-Commerce Involves Buying & Selling Processes Supported by Electronic Means E-Marketing “e-selling” side of e-commerce
Benefits to Buyers Customer Relationship Building Reducing Costs & Increasing Speed and Efficiency Offers Greater Flexibility Truly Global Medium E-Commerce Benefits Convenient Buying is Easy and Private Greater Product Access and Selection Access to Comparative Information Buying is Interactive and Immediate Benefits to Sellers
B2C Sales expected to increase from $34 billion in 2001 to $130 billion by 2006. Provides e-marketers with access to consumers in all age groups. More customer-initiated and customer-controlled. Estimates are that B2B e- commerce will reach $3.6 trillion in 2003. By 2005, more than 500,000 enterprises will participate as buyers, sellers, or both. Much e-commerce takes place in open trading networks: Some companies are also setting up private trading networks (PTNs) B2B
C2C Occurs between people over a wide range of products and services. EBay’s C2C transacted more than $5 billion in trades last year. Involves interchanges of information through: Forums Newsgroups Today’s consumers can contact and communicate with companies. Consumers can search out sellers on the Web, learn about their offers, and initiate purchases. Example: Using http://www.priceline.com/, consumers can bid for airline tickets, hotel rooms, etc. http://www.priceline.com/ Then, sellers decide whether to accept their offers. C2B
Reasons for Dot.com Failures Prices and margins were often very low Lack of good distribution delivery processes Poorly designed Web sites Attention on gathering new customers instead of building brand loyalty Spending offline to establish brand identities Spin & hype instead of marketing strategies Failure to research or plan
Click-and-Mortar Companies Many resisted adding e-commerce because of potential for channel conflict and cannibalization. Many are doing better than brick or click-only operations i.e. http://staples.com.http://staples.com Trusted brand names & financial resources, Large customer bases, Knowledge & experience, Good relationships with key suppliers, Ability to offer customers more options, Buy online & return unwanted merchandise to store.
Placing Ads and Promotions Online Online advertising - used to build Internet brands or attract visitors. Forms of online advertising & promotion: Banner ads & tickers (move across the screen) Skyscrapers (tall, skinny ads at the side of a page) Rectangles (boxes larger than banner) Interstitials (online ads that pop up between changes) Browser ads (sponsors pay viewers to watch) Content sponsorships (sponsoring content on sites) Microsites (limited areas managed by an external co.) Viral marketing (Internet word-of-mouth)
Other e-Marketing Methods Creating or Participating in Web Communities Allow members to exchange views on issues of common interest. http://iVillage.com Share common interests & well- defined demographics. E-mail or Webcasting E-mail: mainstay for B2C & B2B Webcasting automatically downloads customized information to recipients’ PCs.