my own preference

What is the marketing definition

• a process to fulfill customer need

• a process to capture value from customers to create profits and customer equity

• a process by which companies create value for customer and build strong customer relationship in order to capture value from customer in return.

• a process attract new customers by promising superior value

Goals of marketing

• Attract new customers by promising superior value

• helps guide marketing strategies and keep marketers focused on the right things

• reach target audience and communicate the benefits of your product or service

• Keep and grow current customers by delivering statisfaction

How many marketing management orientation ?

• 2

• 4

• 3

• 5

Designing a customer-driven marketing strategy (marketing management orientation)

production on concept

• this concept refer to customer more favor on products that are available and highly affordable. company should focus more on improving production and distribution effieciency.

• this concept holds that consumers will favor products that offer the the most in quality, performance.

• companies neglect to customer needs and build customer relationship.

• may leads to marketing myopia which refers to mistake paying more attention to specific products a company offers than the benefits and experiences produced by these products.

Designing customer-driven marketing strategy (marketing management orientation)

Product concept

• Marketing strategy focuses on continuous product improvements

• This concept holds that customer more favor on product quality, performance and innovative features.

• This may lead to marketing myopia

• This concept holds that the customer will not buy enough products from the firm's, unless it undertakes large scale selling and promotion effort.

Designing customer-driven marketing strategy (marketing management orientation)

Selling concept

• Normally practiced by unsought goods like insurance and blood donations.

• focuses on creating sales transaction rather than building long-term, profitable customer relationship.

• This concept holds that the customer will not buy enough products from the firm's, unless it undertakes large scale selling and promotion effort.

• The aim is to sell what the company makes rather than making what the markets wants. For e.g. 7-eleven.

• this concept refer to customer more favor on products that are available and highly affordable. company should focus more on improving production and distribution effieciency.

Customer-driven marketing strategy (Marketing and management orientation)

Marketing Concept

• focuses on creating sales transaction rather than building long-term, profitable customer relationship.

• Customers focus and value are the paths of sales and profits.

• may leads to marketing myopia which refers to mistake paying more attention to specific products a company offers than the benefits and experiences produced by these products.

• holds that achieving organizational goals depends knowing the needs and wants of target market and delivering desired satisfaction better than competitors do.

which is the true wan ?

• The selling concept take an inside-out perspective.

• The marketing concept take an outside-in perspective.

• The selling concept take an outside-in perspective.

• The marketing concept takes an inside-out perspective.

Customer-driven marketing strategy (Marketing management orientation)

Societal-marketing concept

• holds that achieving organizational goals depends knowing the needs and wants of target market and delivering desired satisfaction better than competitors do.

• focuses on creating sales transaction rather than building long-term, profitable customer relationship.

• This concept holds that a company's marketing decisions should consider consumer's want, companies requirement, consumer long-term interest and society's long-run interest.

• This concept holds that the customer will not buy enough products from the firm's, unless it undertakes large scale selling and promotion effort.

Buston Consulting Groups.. Stars

• high growth rate, high-share business or products. It often needs heavy investment to finance its rapid growth. Eventually their growth will slow down, and turn into cash cows

• low growth rate, high-share business or product. These established and successful need less investment to hold their market share. Thus, they produce a lot of the cash that the company use to pay its bill and support other SBUs that need investment.

• Low-share business or products units in high-growth markets. They require a lot of cash to hold their share market, let them increase alone. Management should think hard about which question marks it should try to build into stars and which should be phased out.

• Low-growth rate, low-share business or products. They may generate enough cash to maintain themselves but do not promise to be large sources of cash.