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Chapter 1
Chapter 1 Learning Objectives
1.1 To understand the evolution of the marketing concept, the most
prominent tools used to implement marketing strategies, the
relationship between value and customer retention, and the
objectives of socially responsible marketing.
1.2 To understand how the Internet and related technologies improve
marketing transactions by adding value that benefits both marketers
and customers.
1.3 To understand the interrelationships among customer value,
satisfaction, and retention, and technology’s revolutionary role in
designing effective retention measures and strategies.
1.4 To understand consumer behavior as an interdisciplinary area,
consumer decision-making, and the structure of this book.
How can a car help express its owners’
characteristics?
1.1 To understand the evolution of the marketing concept, the
most prominent tools used to implement marketing strategies, the
relationship between value and customer retention, and the
objectives of socially responsible marketing.
Learning Objective 1.1
The essence of marketing
consists of satisfying
consumers’ needs, creating
value, and retaining customers.
Marketing Concept
Development of the Marketing
Concept
Consumer Research
Market Segmentation, Targeting and
Positioning
The Marketing Mix (4 Ps)
•Product or service
•Price
•Place
•Promotion
Marketing Concept Requirements
What is the societal
marketing concept?
Socially Responsible Marketing
1.2 To understand how the Internet and related
technologies improve marketing transactions by
adding value that benefits both marketers and
customers.
Learning Objective 1.2
•Specialized information exchanges and cookies
•Consumer access to information; product
comparisons
Behavior Information and
Targeting
How does technology affect the Marketing Mix?
Provide examples:
Interactive and novel communication channels
Customizing products and promotional messages
Better prices and distribution
Discussion Question
1.3 To understand the interrelationships among
customer value, satisfaction, and retention, and
technology’s revolutionary role in designing
effective retention measures and strategies.
Learning Objective 1.3
Customer Value
Customer
Satisfaction
Customer
Retention
Defined as the ratio
between the customer’s
perceived benefits and the
resources used to obtain
those benefits
Perceived value is relative
and subjective
Developing a value
proposition is critical
Successful Relationships
Value, Satisfaction,
and Retention
How does McDonald’s create
value for the consumer?
How do they communicate this
value?
Discussion Questions
Customer
Value
Customer
Satisfaction
Customer
Retention
The individual's perception
of the performance of the
product or service in relation
to his or her expectations.
Customer groups based on
loyalty include loyalists,
apostles, defectors,
terrorists, hostages, and
mercenaries
Successful Relationships
Value, Satisfaction,
and Retention
Customer Value
Customer
Satisfaction
Customer
Retention
The objective of providing
value is to retain highly
satisfied customers.
Loyal customers are key
• They buy more products
• They are less price sensitive
• Servicing them is cheaper
• They spread positive word of
mouth
Successful Relationships
Value, Satisfaction,
and Retention
For Discussion:
• Provide two examples where brands used
technology to engage consumers/enhance
customer relationships.
• Provide two examples where technology was
used to add value to the consumer.
Technology and Customer
Relationships
Profitability-Focused
Segmentation
• What is the difference between emotional and
transactional bonds?
• Identify and describe four of the eleven
determinants of customer satisfaction with online
merchants. Characterize each selected
determinant
as primarily driven by emotion or stemming from
the mechanics of the transaction.
Discussion Questions
1.4 To understand consumer behavior as an
interdisciplinary area, consumer decision-making, and
the structure of this book.
Learning Objective 1.4
Inputs
• Firm marketing efforts
• Sociocultural influences
Process
• Psychological factors
• Need Recognition, Decision Type, Prepurchase Search,
Evaluation of Alternatives
• Learning
Outputs
• Purchase
• Post-purchase evaluation
Consumer Decision Making
Consumer Decision Making

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schiffman_cb11_ippt01Add more information to your uploadAdd more information to your uploadAdd more information to your uploadAdd more information to your upload.ppt

  • 2. Chapter 1 Learning Objectives 1.1 To understand the evolution of the marketing concept, the most prominent tools used to implement marketing strategies, the relationship between value and customer retention, and the objectives of socially responsible marketing. 1.2 To understand how the Internet and related technologies improve marketing transactions by adding value that benefits both marketers and customers. 1.3 To understand the interrelationships among customer value, satisfaction, and retention, and technology’s revolutionary role in designing effective retention measures and strategies. 1.4 To understand consumer behavior as an interdisciplinary area, consumer decision-making, and the structure of this book.
  • 3. How can a car help express its owners’ characteristics?
  • 4. 1.1 To understand the evolution of the marketing concept, the most prominent tools used to implement marketing strategies, the relationship between value and customer retention, and the objectives of socially responsible marketing. Learning Objective 1.1
  • 5. The essence of marketing consists of satisfying consumers’ needs, creating value, and retaining customers. Marketing Concept
  • 6. Development of the Marketing Concept
  • 7. Consumer Research Market Segmentation, Targeting and Positioning The Marketing Mix (4 Ps) •Product or service •Price •Place •Promotion Marketing Concept Requirements
  • 8. What is the societal marketing concept? Socially Responsible Marketing
  • 9. 1.2 To understand how the Internet and related technologies improve marketing transactions by adding value that benefits both marketers and customers. Learning Objective 1.2
  • 10. •Specialized information exchanges and cookies •Consumer access to information; product comparisons Behavior Information and Targeting
  • 11. How does technology affect the Marketing Mix? Provide examples: Interactive and novel communication channels Customizing products and promotional messages Better prices and distribution Discussion Question
  • 12. 1.3 To understand the interrelationships among customer value, satisfaction, and retention, and technology’s revolutionary role in designing effective retention measures and strategies. Learning Objective 1.3
  • 13. Customer Value Customer Satisfaction Customer Retention Defined as the ratio between the customer’s perceived benefits and the resources used to obtain those benefits Perceived value is relative and subjective Developing a value proposition is critical Successful Relationships Value, Satisfaction, and Retention
  • 14. How does McDonald’s create value for the consumer? How do they communicate this value? Discussion Questions
  • 15. Customer Value Customer Satisfaction Customer Retention The individual's perception of the performance of the product or service in relation to his or her expectations. Customer groups based on loyalty include loyalists, apostles, defectors, terrorists, hostages, and mercenaries Successful Relationships Value, Satisfaction, and Retention
  • 16. Customer Value Customer Satisfaction Customer Retention The objective of providing value is to retain highly satisfied customers. Loyal customers are key • They buy more products • They are less price sensitive • Servicing them is cheaper • They spread positive word of mouth Successful Relationships Value, Satisfaction, and Retention
  • 17. For Discussion: • Provide two examples where brands used technology to engage consumers/enhance customer relationships. • Provide two examples where technology was used to add value to the consumer. Technology and Customer Relationships
  • 19. • What is the difference between emotional and transactional bonds? • Identify and describe four of the eleven determinants of customer satisfaction with online merchants. Characterize each selected determinant as primarily driven by emotion or stemming from the mechanics of the transaction. Discussion Questions
  • 20. 1.4 To understand consumer behavior as an interdisciplinary area, consumer decision-making, and the structure of this book. Learning Objective 1.4
  • 21. Inputs • Firm marketing efforts • Sociocultural influences Process • Psychological factors • Need Recognition, Decision Type, Prepurchase Search, Evaluation of Alternatives • Learning Outputs • Purchase • Post-purchase evaluation Consumer Decision Making