Week 13.2. Chapter 11 Customer-Driven Marketing (2)

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2.

3.

No phone
Silence
Stay productive

4.

Chapter 1: Introduction & the Dynamics of Business in Borderless world
Chapter 4: Options for Organizing Business
Chapter 5: Small Business, Entrepreneurship, and Franchising
Chapter 6: The Nature of Management
Passed chapter review
Mid-term examination
Chapter 7: Organization, Teamwork, and Communication
Chapter 8: Managing Operations and Supply Chains
Chapter 9: Motivating the Workforce
Chapter 10: Managing Human Resources
Chapter 11: Customer-Driven Marketing
Chapter 12: Dimensions of Marketing Strategy & Review
Final examination

5. Customer-Driven Marketing 2.0

CUSTOMERDRIVEN
MARKETING 2.0

6. 5. marketing strategy, including market segmentation and marketing mix. 6. marketing research and study buying behavior. 7.

5. MARKETING STRATEGY,
INCLUDING MARKET SEGMENTATION
AND MARKETING MIX.
6. MARKETING RESEARCH AND
STUDY BUYING BEHAVIOR.
7. ENVIRONMENTAL FORCES THAT
INFLUENCE MARKETING DECISIONS.

7. Review!

REVIEW!

8. Marketing Goals

• Customer satisfaction
• Achieve business objectives
• Boost productivity
• Reduce costs
• Capture market share

9. Marketing

• Marketing is NOT
• Manipulating consumers
• Just selling & advertising
• Marketing IS
• A systematic approach to satisfying
consumers

10.

Buying
Marketing
research
Selling
Financing
Transporting
Grading
Storing

11. Evolution of the Marketing Concept

Production Orientation
19th Century
Manufacturing efficiency
Sales Orientation
Early 20th Century
Supply exceeds demand; a need to “sell” products exists
Market Orientation
1950s
First determine what customers want

12. 5. marketing strategy, including market segmentation and marketing mix. 6. marketing research and study buying behavior. 7.

5. MARKETING STRATEGY,
INCLUDING MARKET SEGMENTATION
AND MARKETING MIX.
6. MARKETING RESEARCH AND
STUDY BUYING BEHAVIOR.
7. ENVIRONMENTAL FORCES THAT
INFLUENCE MARKETING DECISIONS.

13. Market

MARKET
• A group of people who have a
need, purchasing power and the
desire and authority to spend
money on goods, services and
ideas
• B2B, B2C, B2G
• Target Market
• A more specific group of consumers on whose
needs and wants a company focuses its
marketing efforts (Rasta example)

14. Total-Market Approach

TOTAL-MARKET APPROACH
• A firm tries to appeal to all consumers and assumes that they all have similar
needs
• Salt, sugar, flour and white bread are all examples of products that typically are
sold using a total market approach

15. Market Segmentation

MARKET SEGMENTATION
• A strategy to divide the total market into groups
of people with relatively similar product needs
• Market Segment
• A collection of individuals, groups, or organizations sharing one or more
characteristics, thus having relatively similar needs and desires for products

16. Segmentation Approaches

• Concentration Approach
SEGMENTATION
APPROACHES
• A market segmentation strategy whereby a
company develops one marketing strategy
approach for a single market segment (ex.,
Porsche)
• Multi-segment Approach
• A market segmentation strategy whereby a
company aims its efforts at two or more
segments, developing a marketing strategy for
each

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18.

19. Niche Marketing

NICHE MARKETING
• A narrow segment focus
usually on one small welldefined group with a unique
and specific set of needs
• Big man store example

20. Bases for Market Segmentation

Demographic
BASES FOR
MARKET
SEGMENTATION
Geographic
Psychographic
Behavioristic

21. 5. marketing strategy, including market segmentation and marketing mix. 6. marketing research and study buying behavior. 7.

5. MARKETING STRATEGY,
INCLUDING MARKET SEGMENTATION
AND MARKETING MIX.
6. MARKETING RESEARCH AND
STUDY BUYING BEHAVIOR.
7. ENVIRONMENTAL FORCES THAT
INFLUENCE MARKETING DECISIONS.

22. Marketing Research

MARKETING
RESEARCH
• Systematic and objective
process to collect information
about potential customers
• Guides marketing decisions
• May include data on age, income, ethnicity,
educational level, etc. of the target market and
how frequently they purchase the product

23. Marketing Information Systems

• A framework for accessing information
about customers from sources inside
and outside the organization
• Inside the organization:
• Continuous flow of information on prices, sales and
expenses
• Outside the organization:
• Data are available through public and private reports,
public statistics, digital media sources, etc.
MARKETING
INFORMATION
SYSTEMS

24. Collecting Data

Primary Data
• Marketing information that is
observed, recorded or collected
directly from respondents (consumers)
Secondary Data
• Information compiled inside or outside
the organization for some purpose
other than changing the current
situation

25. Online Marketing Research

• New information
technologies are changing
how businesses learn about
consumers
• Digital media and online
social networks
• Opportunity to reach new
markets via the Internet

26. Buying Behavior

Decision processes and actions of people who purchase and use products

27. Psychological Variables for Buying Behavior

Perception
• Process by which a person selects, organizes and
interprets information received from one’s senses
(hearing a radio ad, touching a product)
PSYCHOLOGICAL
VARIABLES FOR
BUYING
BEHAVIOR
Attitude
• Positive or negative feelings about something
Learning
• Brings changes in behavior based on information
and experience
Personality
• Individuals’ distinguishing character traits, attitudes,
or habits

28. Social Variables for Buying Behavior

• Social Roles
• Set of expectations of
individuals based on some
position they occupy
• As a family with three kids:
sedan vs minivan

29. Social Variables for Buying Behavior

• Reference Groups
• Groups with whom buyers identify and
whose values or attitudes they adopt
• Social Classes
• Ranking of people into higher or lower
positions of respect
• Culture
• Integrated, accepted pattern of
behavior including thought, speech,
beliefs, actions and artifacts

30. 5. marketing strategy, including market segmentation and marketing mix. 6. marketing research and study buying behavior. 7.

5. MARKETING STRATEGY,
INCLUDING MARKET SEGMENTATION
AND MARKETING MIX.
6. MARKETING RESEARCH AND
STUDY BUYING BEHAVIOR.
7. ENVIRONMENTAL FORCES THAT
INFLUENCE MARKETING
DECISIONS.

31. The Marketing Environment

THE MARKETING ENVIRONMENT
• External forces that directly and
indirectly affect marketing
strategy
• Political, legal and regulatory
forces
• Social forces
• Competitive and economic
forces
• Technological forces

32. Discussion

Beeline case study

33. Thanks

THANKS