Chapter 11 - Customer-driven marketing. This chapter include objectives: Define marketing and describe the exchange process; specify the functions of marketing; explain the marketing concept and its implications for developing marketing strategies; examine the development of a marketing strategy, including market segmentation and marketing mix;. | Part 5 Marketing: Developing Relationships © 2015 McGraw-Hill Education. 1 CHAPTER 11 Customer-Driven Marketing CHAPTER 12 Dimensions of Marketing Strategy CHAPTER 13 Digital Marketing and Social Networking 11-2 2 Learning Objectives LO 11-1 Define marketing and describe the exchange process. LO 11-2 Specify the functions of marketing. LO 11-3 Explain the marketing concept and its implications for developing marketing strategies. LO 11-4 Examine the development of a marketing strategy, including market segmentation and marketing mix. LO 11-5 Investigate how marketers conduct marketing research and study buying behavior. LO 11-6 Summarize the environmental forces that influence marketing decisions. 11-3 3 The Nature of Marketing 11-4 4 11-5 Creating Value with Marketing Customer Benefits Customer Costs Customer Value = – 5 Evolution of the Marketing Concept 11-6 Market Orientation An approach requiring organizations to gather information about customer needs, share that information . | Part 5 Marketing: Developing Relationships © 2015 McGraw-Hill Education. 1 CHAPTER 11 Customer-Driven Marketing CHAPTER 12 Dimensions of Marketing Strategy CHAPTER 13 Digital Marketing and Social Networking 11-2 2 Learning Objectives LO 11-1 Define marketing and describe the exchange process. LO 11-2 Specify the functions of marketing. LO 11-3 Explain the marketing concept and its implications for developing marketing strategies. LO 11-4 Examine the development of a marketing strategy, including market segmentation and marketing mix. LO 11-5 Investigate how marketers conduct marketing research and study buying behavior. LO 11-6 Summarize the environmental forces that influence marketing decisions. 11-3 3 The Nature of Marketing 11-4 4 11-5 Creating Value with Marketing Customer Benefits Customer Costs Customer Value = – 5 Evolution of the Marketing Concept 11-6 Market Orientation An approach requiring organizations to gather information about customer needs, share that information throughout the firm, and use that information to help build long-term relationships with customers Began in the 1950s and continues today New technologies are helping firms to improve communication and learn what customers want 6 Selecting a Target Market 11-7 Sellers of salt, sugar, and many agricultural products use a total-market approach because everyone is a potential consumer of these products 7 Selecting a Target Market 11-8 Women are the largest market segment, with 51% of the . population Marketers are focusing on the growing Hispanic population 8 Market Segmentation Approaches 11-9 9 Market Segmentation Approaches 11-10 © Companies segment markets on the basis of several variables: 10 Developing a Marketing Mix 11-11 A product whether a Good – A physical entity you can touch (a car, computer, or adopted kitten) Service – The application of human and mechanical efforts to people or objects to provide intangible benefits to customers (Air travel, dry cleaning, or haircuts) Idea
