Transcript Understanding the Customer and Creating Goods and Services that

Understanding the Customer
and Creating Goods and Services
that Satisfy
Chapter 11
*based on other sources
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.
Overview of Marketing (cont’d)
Elements of marketing concept:
1. Customer value
2. Customer satisfaction
3. Building relationships
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
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
3. Types of Market Segmentation
Type
General characteristics
Demographic
age, education, gender, income, race,
family size
regional location (i.e., midwest),
population density, city/county size,
climate
lifestyle, personality, interests, values,
attitudes
benefits provided by the good or
service
amount of use (light to heavy)
Geographic
Psychographic
Benefit
Volume
Developing Marketing Strategy (cont’d)
4. Understanding the marketing environment
a. economic conditions b. regulation
c. politics
d. society
e. competition
f. technology
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
B. Business-to-Business Purchase
Decision Making (not an individual)
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Larger purchase volume
Fewer buyers
More concentrated location of buyers
Direct distribution
Rational purchase decisions
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
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
Primary data - info collected for the first time and specific
to the study, is collected in these ways:
1.) Door-to-door
2.) 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