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Definition of Marketing and The Marketing Process

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74 views

Definition of Marketing and The Marketing Process

Uploaded by

sherbek26mamasodiqov
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Marketing

Marketing Process
MO-67
Rustamova Aziza
What is the marketing?

The process by
which companies engage
customers, build strong
customer relationships, and
create customer value in
order to capture value from
customers in return.
Marketing
Process
Our goals

Short term Long term


Our main goals now are to increase sales The overall goal of the company is to
through improved marketing and expand into new markets or geographies,
customer outreach, optimize operational develop and implement a strategy to
processes to reduce costs and increase reduce environmental impact and
efficiency and establish a timeline for increase sustainability and increase
new products market share
First Step:
Understanding the marketplace and customer
needs
As a first step, marketers need to understand customer needs
and wants and the marketplace in
which they operate. We examine five core customer and
marketplace concepts: (1) needs, wants
and demands; (2) market offerings (goods, services and
experiences); (3) value and satisfaction; (4)
exchanges and relationships; and (5) markets.
Second Step:
Designing a customer value-driven marketing strategy and
plan

To design a winning marketing


strategy, the marketing manager must
answer two important
questions: What customers will we
serve (what’s our target market)? and
How can we serve these
customers best (what’s our value
proposition)?
Third Step:
Preparing an integrated marketing
plan and programme

The major marketing mix tools are classified into


four broad groups, called the four Ps of
marketing: product, price, place and promotion. To
deliver on its value proposition, the firm must
first create a need-satisfying market offering
(product). It must then decide how much it will
charge for the offering (price) and how it will
make the offering available to target consumers
(place). Finally, it must engage target consumers,
communicate about the offering and persuade
consumers of the offer’s merits (promotion).
Fourth Step:
Building customer relationships

Customer relationship
management (CRM) The
overall process of building
and maintaining profitable
customer relationships by
delivering superior customer value and satisfaction
Fifth Step:

customer-perceived Customer satisfaction


value
Attracting and retaining customers can
be a difficult task. Customers depends on the product’s
often face a bewildering perceived performance
array of goods and services from relative to a buyer’s
which to choose. A customer expectations. If the product’s
buys from the firm that offers the performance falls short of
highest customer-perceived
expectations, the customer is
value – the customer’s
evaluation of the difference
dissatisfied. If performance
between all matches expectations, the
the benefits and all the costs of a customer is satisfied. If
market offering relative to those performance exceeds
of competing offers. Importantly, expectations, the customer is
customers often do not judge highly satisfied or delighted
values and costs ‘accurately’ or
‘objectively’. They act on
perceived value
Digital Age
Digital and social media Mobile Marketing
marketing Using digital
marketing tools such as
websites, social media, mobile
apps and ads, online video,
$100M
Mobile marketing is perhaps the fastest-growing digital
marketing platform. Smartphones are
email and blogs to engage
ever present, always on, finely targeted and highly
consumers anywhere, at any
time, via their digital devices. personal. This makes them ideal for engaging
customers anytime, anywhere as they move through the

Social media Marketing


$20M
buying process. For example, UK’s Costa
Coffee customers can use their mobile devices for
everything from finding the nearest Costa
Online social media provide a digital home where Coffee and learning about new products to placing and
people can connect and share important paying for orders.
information and moments in their lives. As a result,
they offer an ideal platform for real-time
marketing, by which marketers can engage consumers
in the moment by linking brands to $5M
important trending topics, real-world events, causes,
personal occasions or other important
happenings in consumers’ lives.
Thanks

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