Lecture Business (4/e): Chapter 11 - Ferrell, Hirt, Ferrell

Part 5
Marketing:
Developing
Relationships

© 2015 McGraw­Hill Education.


11-2

 
CHAPTER 11

Customer-Driven Marketing

CHAPTER 12

Dimensions of Marketing Strategy

CHAPTER 13

Digital Marketing and Social Networking


11-3

Learning Objectives
LO 11-1 Define marketing and describe the exchange process.
LO 11-2

Specify the functions of marketing.

LO 11-3
for

Explain the marketing concept and its implications
developing marketing strategies.

LO 11-4

Examine the development of a marketing strategy,
including market segmentation and marketing mix.

LO 11-5
Investigate how marketers conduct marketing
research and study buying behavior.
LO 11-6

Summarize the environmental forces that influence
marketing decisions.


11-4

The Nature of Marketing


11-5

Creating Value with Marketing

Customer
Value

=

Customer
Benefits

–

Customer
Costs


11-6

Evolution of the Marketing Concept
Market Orientation
•

An approach requiring organizations to gather information about
customer needs, share that information throughout the firm, and use that
information to help build long-term relationships with customers

Ø Began in the 1950s and continues today
Ø New technologies are helping firms to improve
communication and learn what customers want


11-7

Selecting a Target Market

Ø

Sellers of salt, sugar, and many agricultural products use a totalmarket approach because everyone is a potential consumer of
these products


11-8

Selecting a Target Market

Ø Women are the largest market segment, with 51%
of the U.S. population
Ø Marketers are focusing on the growing Hispanic
population


11-9

Market Segmentation Approaches


11-10

Market Segmentation Approaches

• Companies segment markets on the basis of several variables:

©


11-11

Developing a Marketing Mix

A product whether a

ü

Good – A physical entity you can touch (a car, computer, or adopted
kitten)

ü

Service – The application of human and mechanical efforts to people
or objects to provide intangible benefits to customers (Air travel, dry
cleaning, or haircuts)

ü

Idea – Can be a concept, philosophy, image, or issue (attorney advise
or political parties)

Is a complex mix of tangible and intangible attributes that provide satisfaction
and benefits


11-12

Price, Distribution & Promotion

Distribution
•

Making products available to customers in the quantities desired

.


11-13

Marketing Research and Information Systems


11-14

Buying Behavior


11-15

Social Variables of Buying Behavior