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Sustainable Marketing
corporate ethics and social responsibility have become important for every business
Rapid Globalization
managers around the world are taking both local and global views of the company’s industry, competitors, opportunities
Not-for-Profit Marketing
is growing, as sound marketing can help organizations attract membership, funds, and support
Big Data and Ai
Brands can use big data to gain deep customer insights, personalize marketing offers, and imporve customer engagements and service
Mobile Marketing
using mobile channels to stimulate immediate buying, make shopping easier, and enrich the brand experience
Social Media
provides exciting opportunities to extend customer engagement and get people talking about a brand
Digital and social media marketing
involves using digital marketing tools such as websites, social media, mobile ads and apps, online videos, email, and blogs that engage consumers anywhere, at any time, via their digital devices
The Changing Marketing Landscape
Digital Age
Changing Economic Environment
Growth of Not-for-Profit Marketing
Rapid Globalization
Sustainable Marketing
Customer Equity
the total combined customer lifetime values of all the company’s customers
Share of Customer
the portion of the customer’s purchasing that a company gets in its product categories
Customer Lifetime Value
the value of the entire stream of purchases that the customer would make over a lifetime of patronage
Partner Relationship Management
involves working closely with partners in other company departments and outside the company to jointly bring greater value to customers
Consumer-Generated Marketing
brand exchanges created by consumers themselves. Consumers are playing an increasing role in shaping brand experiences
Customer-Engaging Marketing
Fosters direct and continuous customer involvement in shaping brand conversations, experiences, and community
Integrated marketing program
a comprehensive plan that communicates and delivers intended value
Marketing Mix
Product, Price, Promotion, Place
Societal Marketing
the company’s marketing decisions should consider consumers wants, the company’s requirements, consumers long-run interests, and society’s long-run interests
Value propositions
a brands value proposition is the set of benefits or values it promises to deliver to customers to satisfy their needs
Marketing management
the art and science of choosing target markets and building profitable relationships with them
Market
set of actual and potential buyers
Marketing actions
try to create maintain, and grow desirable exchanged relationships
Marketing Management
the art and science of choosing target markets and building profitable relationships with them
Exchange
the act of obtaining a desired object from someone by offering something in return
Marketing myopia
paying more attention to the specific products than to the benefits and experiences produced (its a car, no attention to unique features like leather seats
Market Offerings
are some combination of products, services, information, or experiences offered to a market to satisfy a need or want
Demands
are human wants that are backed by buying power
The Marketing Process
Understand the marketplace and customer needs and wants
Design a customer value-driven marketing strategy
Construct an integrated marketing mix that delivers superior value
Engage customers, build profitable relationships, and create customer delight
Capture value from customers to create profits and customer equity
Marketing
set of strategies and activities where companies acquire and engage customers
ROI Marketing return on investment
net return from a marketing investment divided by the costs of the marketing investment
Operating control
check ongoing performance against the annual plan and take corrective action when necessary
Marketing Control
evaluating results and taking corrective action to ensure that the objectives are attained
Geographic organization
assigning sales and marketing people to specific countries, regions, and districts
Functional Organization
different marketing activates are headed by a functional specialist - a sales manager - a digital media manager, a marketing information manager
Cause Related marketing
increased emphasis on ethics and socially responsible actions
marketing intermediaries
firms that help the company to promote, finance, sell, and distributione its goods to final buyers
Macroenvironment
larger societal forces that affect demographic, economic, natural, technological, politica and cultural forces
Microenvironment
consists of the factors close to the company that affect its ability to serve
CRM customer relationship management
managing detailed information about individual customers and carefully managing customer touch points to maximize customer loyalty
Marketing Information System
provides information to the company’s marketing and other managers and external partners such as suppliers, resellers, and marketing service agencies
Marketing information ecosystem
people processes and assets dedicated to assessing managers’ information needs
Cognitive disonance
buyer discomfort caused by post-purchase conflict
Complex buying behavior
consumer buying behavior in situations by high consumer involvement in a purchase and significant perceived differences among brands
variety-seeking buying behavior
consumer buying behavior in situations characterized by low consumer involvement but significant perceived differences among brands
habitual buying behavior
low consumer involvement and few significant perceived differences among brands (milk)
selective distortion
the tendency for people to interpret information in a way that will support what they already believe
consumer buyer behavior
final consumers-individuals and households that buy goods and services for personal consumption
