Creating and Capturing Customer Value

Chapter 1- slide 1
Copyright © 2009 Pearson Education, Inc.
Publishing as Prentice Hall
Chapter One
Creating and Capturing Customer
Value

Chapter 1- slide 2
Creating and Capturing Customer Value
1. Define marketing and outline the steps in the
marketing process
2. Understanding the Marketplace and Customer
Needs
3. Designing a Customer-Driven Marketing Strategy
4. Preparing an Integrated Marketing Plan and
Program
5. Building Customer Relationships
Topic Outline

Chapter 1- slide 3
1. What Is Marketing?
Marketing is a process by which
companies create value for customers
and build strong customer
relationships to capture value from
customers in
return

Chapter 1- slide 4
2. Understanding the Marketplace
and Customer Needs
• Customer needs, wants, and demands
• Market offerings
• Customer Value and satisfaction
• Exchanges and relationships
• Markets
Core Concepts

Chapter 1- slide 5
and Customer Needs
Customer Needs, Wants, and Demands

Chapter 1- slide 6
• Market offerings are some
combination of products, services,
information, or experiences offered to a
market to satisfy a need or want
• Marketing myopia is focusing only on
existing wants and losing sight of
underlying consumer needs
and Customer Needs

Chapter 1- slide 7
and Customer Needs
Customer Value and Satisfaction
Expectations

Chapter 1- slide 8
Exchange is the act of obtaining a
desired object from someone by
offering something in return
and Customer Needs

Chapter 1- slide 9
Markets are the set of actual and
potential buyers of a product or service
and Customer Needs

Chapter 1- slide 10
3. Designing a Customer-Driven
Marketing Strategy
Marketing management is the art and
science of choosing target markets and
building profitable relationships with
them
– What customers will we serve?
– How can we best serve these customers?

Chapter 1- slide 11
Marketing Strategy
Market segmentation refers to dividing
the markets into segments of customers
Target marketing refers to which
segments to go after
Selecting Customers to Serve

Chapter 1- slide 12
Marketing Strategy
Demarketing is marketing to reduce
demand temporarily or permanently; the
aim is not to destroy demand but to
reduce or shift it
Selecting Customers to Serve

Chapter 1- slide 13
Marketing Strategy
• The value proposition is the set of
benefits or values a company promises
to deliver to customers to satisfy their
needs
Choosing a Value Proposition

Chapter 1- slide 14
Marketing Strategy
Marketing Management Orientations

Chapter 1- slide 15
Production concept is the idea that
consumers will favor products that are
available or highly affordable

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Product concept is the idea that
consumers will favor products that offer
the most quality, performance, and
features. Organizations should
therefore devote its energy to making
continuous product improvements.

Chapter 1- slide 17
Selling concept is the idea that
consumers will not buy enough of the
firm’s products unless it undertakes a
large scale selling and promotion effort

Chapter 1- slide 18
Marketing concept is the idea that
achieving organizational goals depends
on knowing the needs and wants of the
target markets and delivering the
desired satisfactions better than
competitors do

Chapter 1- slide 19
Societal marketing concept is the idea
that a company should make good
marketing decisions by considering
consumers’ wants, the company’s
requirements, consumers’ long-term
interests, and society’s long-run
interests

Chapter 1- slide 20
• The marketing mix is the set of tools
(four Ps) the firm uses to implement its
marketing strategy. It includes product,
price, promotion, and place.
• Integrated marketing program is a
comprehensive plan that communicates
and delivers the intended value to
chosen customers.
4. Preparing an Integrated
Marketing Plan and Program

Chapter 1- slide 21
5. Building Customer
Relationships
• The overall process of building and
maintaining profitable customer
relationships by delivering superior
customer value and satisfaction
Customer Relationship Management
(CRM)

Chapter 1- slide 22
Building Customer Relationships
Relationship Building Blocks: Customer
Value and Satisfaction

Chapter 1- slide 23
Customer Perceived Value
Customer’s evaluation of the difference
between all of the benefits and all of
the costs of a marketing offer relative
to those of competing offers.

Chapter 1- slide 24
Customer Satisfaction
Dependent on the product’s perceived
performance relative to a buyer’s
expectations.
– Customer satisfaction often leads to
consumer loyalty.
– Some firms seek to DELIGHT
customers by exceeding expectations.

Chapter 1- slide 25
Building Customer Relationships
Customer Relationship Levels and Tools

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Customer Relationships
Loyalty and retention programs build
relationships and may feature:
– Financial Benefits
• EX: Frequency marketing programs
– Social Benefits
• EX: Club marketing programs
– Structural Ties
Focus is on relating directly to profitable
customers, for the long term.

Chapter 1- slide 27
Partner Relationship Marketing
Marketing partners help create customer
value and assist in building customer
relationships.
Partners inside the firm:
– All employees customer focused
– Teams coordinate efforts toward customers
Partners outside the firm:
– Supply chain management
– Strategic alliances

Chapter 1- slide 28
Customer Loyalty & Retention
• Customer
Lifetime Value
– The entire stream of
purchases that the
customer would
make over a lifetime
of patronage.
• Share of Customer
– The share a
company gets
of the customers
purchasing in their
product categories.

Chapter 1- slide 29
• The combined discounted customer
lifetime values of all the company’s
current and potential customers.
– Classify customers by loyalty and potential
profitability
– Manage accordingly
Customer Equity

Chapter 1- slide 30
• The New Digital Age
• Rapid Globalization
• Ethics and Social Responsibility
• Not-for-Profit Marketing
• New World of Marketing Relationships
New Marketing Landscape

Creating and Capturing Customer Value

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