MARKETING REVISED
MARKETING PROCESS (KOTLER)
• DEFINITIONS
• MARKETING PROCESS-5 STAGES
• UNDERSTAND MARKETING NEEDS, WANTS,
DEMANDS AND MARKET PLACE
– DESIGN CUSTOMER DRIVEN STRATEGY
– INTEGRATED MARKETING PLAN TO DELIVER SUPERIOR
VALUE
– BUILD PROFITABLE RELATIONSHIP & CREATE
CUSTOMER DELIGHT
– CAPTURE VALUFROM CUSTOEMRTO CREATE PROFIT &
CUSTOMER EQUITY
I. UNDERSTAND MARKET PLACE
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Needs, Wants, Demands
Market offerings – marketing myopia
Customer value (CPV) and satisfaction
Exchange & Relationship
Markets
II. DESIGN CUSTOMER DRIVEN
STRATEGY
• Selecting customer to serve-market research,
segmentation, target marketing
• Choosing a value proposition- a set of benefits or
values a company promises to deliver; differentiation,
positioning
• Marketing management orientation -5 marketing
concepts
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Production concept
Product concept
Selling concept
Marketing concept
Societal marketing concept
III. INTEGRATED MARKETING PLAN
• Marketing Mix – 4 Ps extendable to 7 Ps
• Orient towards corresponding 4 Cs
• Building customer relationship by
transforming strategy into action
IV. BUILD PROFITABLE RELATIONSHIP
AND CUSTOMER DELIGHT
• CRM- relationship building block – Customer Value
(CPV) and Satisfaction- managing customer data and
customer “touch points”
• CPV – perceived performance v/s expectation
• Loyalty
• CR levels and tools – basic & enhanced (relating with
more carefully selected customer)
• Relating for long term
• Relating directly
• Partner relationship management- partners from inside
company
V. CAPTURE VALUE FROM CUSTOMERS
AND CREATING CUSTOMER EQUITY
• Creating customer loyalty & retention (CLV)
• Growing shares of customers
• Building customer equity- “combined
discounted customer lifetime value of all the
company’s current and potential customer
• Right relationship with right customerbutterflies/ true friends/ strangers/ barnacles
CHAPTER 2
• COMPANY AND MARKETING STRATEGY
COMPANY WIDE STRATEGIC PLANNING
• Defining marketing role
• Process of developing and maintaining
strategic fit between company’s goals and
capabilities & changing marketing
opportunities
• Defining a marketing oriented mission
• Setting objectives and goals
• Designing business portfolio