CHAP 1 - Creating Customer Value and

Engagement
Slide: Slide chap 1+2
Drive:

I. Define marketing and outline the steps in the marketing process.

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II. Explain the importance of understanding the marketplace and

customers and identify the five core marketplace concepts.
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III. Identify the key elements of a customer value–driven marketing

strategy and discuss the marketing management orientations
that guide marketing strategy.
Customer value-driven marketing:

is essentially serving customers in a way that both the marketers and consumers gain
from it a benefit important to each their own.

Case in point: a marketing move which brings profits or recognition and bond with its
audience,

and the consumer having a product that solves their problems better than most, or a
desirable experience unique to a market offering.

Such a logic leads the marketer to think of the idea’s feasibility.

In what population does its people be enticed by what the marketer offers?
And to whom does the marketer’s offering become their solution?
Thus, the marketer sets out to first, find those who are willing to hear what he has to say,
and second, find the individuals who his product can fittingly serve.
Such is customer selection.

After finding what they need, the marketer then must communicate.
Whichever they wish to bring to others, one must make it clear to understand.
“Clear”, not only in the bluntness of stating what product they offers,
But CLEARLY, the extent to which the product wishes to achieve being able to serve its
users.
Such extent creates a difference, each difference garners and forms its own volume, to
which the customers pick up on it and make their decision.
Thus the basics of “value proposal”.
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Next, assume all targets above is met, a marketer now seeks for recognition their product,
Thus a campaign is set up.
Creativity, he might integrate in his campaign; however, he also wishes for its
effectiveness.
Thus, certain theories he can pick up on to help himself:

+The production concept: Customers are more willing to buy if a product is reachable and
is able to be paid for on the fly.
To do so, its appearance must reach commonality through production and distribution.
Such is the case for Milo’s, and Nike’s commonplace.

+The product concept: regarding both situations for the cheap or the expensive, customers
in the buying position seek,
in all that is present, the most quality and innovative amongst the others. In a word, which
most stands out;
thus continuous improvements are required.
Case in point: Vinamilk with its new packaging which does well in attracting.

+The selling concept: a product, regardless of its prior legacy of quality, might not reach
any customers ,
for they are oblivious to it unless made known of its presence.
For instance, Jollibee, to introduce,
made itself known through campaigns showing in its products a similarity and trademark
of the ASEAN people, rice.

+The marketing concept: is essentially deciding the battle between who knows best,
the marketer of their consumers’ interest, and the consumers of their own interest.
An example, Samsung ridding from its product the phone-pen.
Meanwhile, customers actually desired such a feature.
Thus, Samsung brought it back in the form of a new product.

+The social marketing concept: is essentially the marketed product’s relevance to what is
surrounding it.
Cara lighting doesn’t sell lights.
They sell the Lighting Solution.
They help to light the light of life, of moments, and of the dreams which belong to those
who came to seek for themselves, a new view.

IV. Discuss customer relationship management and identify

strategies for creating value for customers and capturing value
from customers in return.

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V. Describe the major trends and forces that are changing the
marketing landscape in this age of relationships.

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CHAP 2 - Partnering to Build Customer Engagement, Value,

and Relationships
Slide: Slide chap 1+2
Drive:

I. Explain company-wide strategic planning and its four steps.

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II. Discuss how to design business portfolios and develop growth strategies.
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III. Explain marketing’s role in strategic planning and how marketing

works with its partners to create and deliver customer value.
Marketing’s role in strategic planning:
Every company born to life, not yet profitable, unsure whether survivable or not; is all but
similar to each other, in that they need a purpose and a proposition “how to” to move
forward.
Marketing makes up most of the company’s “proposition”.

The company has products, marketing guides the products to be most optimal for the
market, and the company to offer most fittingly to the market.

The company needs a growth vision, marketing works through figures and numbers to
form a manual, used to maneuver the market.

The company needs an effectiveness check, marketing formulates a monetization plan.

“The company’s the dreamer, its marketing’s the dream.”

How marketing works with partners to create and deliver customer value:
Marketing works to create what could be - superior values - profitability - relationships;
thus what is stated by the marketing department, the feasibility to back them

IV. Describe the elements of a customer value–driven marketing strategy

and mix and the forces that influence them.
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V. Explore the marketing management functions, including the elements of
a marketing plan, and discuss the importance of measuring and
managing marketing return on investment.
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CHAP 5 - Consumer Markets and Buying Behavior

Slide: Slide chap 5 + 7
Drive:

I. Define the consumer market and construct a simple model of

consumer buyer behavior.
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II. Explore the four major factors that influence consumer buyer
behavior.
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III. Understand the stages in the buyer decision process and the
major types of buying decision behavior
Customer value-driven marketing:

IV. Describe the adoption and diffusion process for new products.
Introduction
Today, we’re going to explore how consumers approach purchasing a new product. When
we talk about "new products," we’re referring to anything—be it a good, service, or idea
—that is perceived as new by consumers. While some products may have been around for
a while, the focus here is on how consumers discover them for the first time and decide
whether or not to adopt them.

Adoption Process
The adoption process is the journey consumers take from first learning about a product to
becoming regular users. This process consists of five distinct stages:

1. Awareness: Initially, the consumer becomes aware of the product but lacks
sufficient information about it.
2. Interest: At this stage, the consumer seeks out more details about the product.
3. Evaluation: Here, the consumer weighs the pros and cons and determines if trying
the product makes sense.
4. Trial: The consumer decides to test the product on a small scale to assess its
value.
5. Adoption: Finally, the consumer chooses to make the product part of their routine
use.

For marketers, it’s crucial to support consumers as they progress through these stages. A
great example of this is Beyond Meat, which provided free product samples in
supermarkets to encourage hesitant consumers to give their plant-based meat products a
try. This strategy effectively helped push consumers past the trial stage into full adoption.

Individual Differences in Innovativeness

Not all consumers adopt new products at the same rate. In every market, you’ll find
innovators—those eager to try new things—and others who are much slower to adopt. As
shown in Figure 5.6, consumers are classified into five adopter categories:

● Innovators (2.5%): These consumers are risk-takers who love to experiment with
new products.
● Early Adopters (13.5%): Often opinion leaders, they adopt new products early
but with more caution.
● Early Mainstream (34%): These adopters deliberate before buying, usually
waiting until the product has been vetted by the market.
● Late Mainstream (34%): These consumers tend to be skeptical and wait until the
majority of people have adopted the product.
 ● Lagging Adopters (16%): The most resistant to change, these consumers wait
until a product has become part of the established norm.

Understanding these categories is essential for marketers. Early marketing efforts should
target innovators and early adopters, as they have a higher likelihood of trying new
products and influencing later adopters.

Product Characteristics that Influence Adoption Rates

Finally, the rate at which a product is adopted depends on six key characteristics:

1. Relative Advantage: The perceived superiority of the innovation over existing

products. For instance, electric vehicles (EVs) offer significant benefits like no
need for gasoline and lower energy costs. However, their higher upfront costs and
limited driving range slow adoption.
2. Compatibility: How well the innovation fits into the existing values, experiences,
or lifestyles of consumers. EVs, for example, drive just like conventional cars, but
the lack of widespread charging infrastructure is a barrier to widespread adoption.
3. Complexity: The easier a product is to understand and use, the faster it will be
adopted. EVs are relatively simple to drive, but concerns over the new
technologies can slow consumer acceptance.
4. Trialability: The ability to try the product on a small scale before committing to
it. Test-driving an EV is a helpful step in the adoption process, but the high cost of
ownership might still deter some consumers.
5. Observability: If potential consumers can see others using the product and
observe the outcomes, they’re more likely to adopt it. Demonstrations of EVs can
make adoption more likely.
6. Risk: The perceived risk of purchasing a new product can deter adoption. To
mitigate this, companies need to offer strong return policies and clear, accurate
product information to reduce consumers’ sense of risk.

By ensuring that a new product performs well in these six areas, marketers can
significantly improve the likelihood of successful adoption.