Presentation is loading. Please wait.

Presentation is loading. Please wait.

Understanding the Customer and Creating Goods and Services that Satisfy Chapter 11 *based on other sources.

Similar presentations

Presentation on theme: "Understanding the Customer and Creating Goods and Services that Satisfy Chapter 11 *based on other sources."— Presentation transcript:

1 Understanding the Customer and Creating Goods and Services that Satisfy Chapter 11 *based on other sources

2 I. Overview of marketing A. Three stages of marketing 1. Production orientation 2. Sales orientation 3. Consumer orientation B. Marketing Concept: - Identifying consumer needs and then producing the goods or services that will satisfy them while making a profit for the organization.

3 Overview of Marketing (cont’d) Elements of marketing concept: 1. Customer value 2. Customer satisfaction 3. Building relationships

4 II. Developing a Marketing Strategy A. Selecting a target market 1. Market - a group of people who need and want a product and have the ability, willingness, and authority to purchase it. a. Consumer markets - purchase for personal use b. Industrial markets - purchase to produce products

5 Developing Marketing Strategy (cont’d) 2. Market segments - groups of individuals with one or more similar product needs. -target market - the segment to which a firm directs its marketing activities a. niche b. total market approach c. market segmentation approach

6 3. Types of Market Segmentation TypeGeneral characteristics Demographicage, education, gender, income, race, family size Geographicregional location (i.e., midwest), population density, city/county size, climate Psychographiclifestyle, personality, interests, values, attitudes Benefitbenefits provided by the good or service Volumeamount of use (light to heavy)

7 Developing Marketing Strategy (cont’d) 4. Understanding the marketing environment a. economic conditions b. regulation c. politics d. society e. competition f. technology

8 III. Buyer Behavior A. Influences on consumer decision making 1. Individual factors - perception, beliefs, attitudes, values, learning, self-concept, personality 2. Social factors -family, opinion leaders, social class, culture

9 B. Business-to-Business Purchase Decision Making (not an individual) Larger purchase volume Fewer buyers More concentrated location of buyers Direct distribution Rational purchase decisions

10 IV. Designing a Marketing Mix Marketing Mix: The blend of ‘4 Ps’: product offering, pricing, promotional methods, and place (distribution system) that brings a specific group of consumers superior value

11 V. Marketing Research A. Need for marketing research 1. Define the marketing problem 2. Choose a method of research survey, observation, experiment 3. Collect the data primary data, secondary data (see next slide) 4. Analyze the data 5. Make recommendations to management

12 Primary data - info collected for the first time and specific to the study, is collected in these ways: 1.) Door-to-door2.) Mall-intercept 3.) Telephone 4.) Internet 5.) Mail interviews Secondary data - published info available from these associations: 1. Government - census data, gov’t surveys 2. Trade - industry results/surveys 3. Commercial - customer surveys –Saves time and money but may not meet researchers’ needs –Both primary and secondary data give researchers a better idea of how market will respond to a product –Reduces the risk of producing something the market doesn’t want

Download ppt "Understanding the Customer and Creating Goods and Services that Satisfy Chapter 11 *based on other sources."

Similar presentations

Ads by Google