Ch. 1 - Marketing Managing Customer Relationships

Marketing

Marketing

managing profitable customer relationships

5 steps of marketing management process

1) Understand the customer and the marketplace. 2) Devise a marketing strategy (who to serve / how best to serve) 3) Construct a marketing program (4 Ps) 4) Build profitable relationships 5) Capture value

Marketing management orientations

production / product / selling / marketing / societal marketing

Production Concept

Production and Distribution efficiency

Selling concepts

selling and sale promotions, selling what we make “profit through selling value”, begins in factory

product concept

product improvement, We build the best!”  And “the best” is defined by the producer, not the consumer.

marketing concept

understanding needs and wants of target costumers, determine and satisfy consumer need-making what we can sale- “profit through customers satisfaction”, begins in market

societal marketing concept

societal well-being

diff b. marketing and selling concept