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Lecture fundamentals of marketing - Lecture 2: Marketing: Creating and capturing customer value

In this chapter, the following content will be discussed: What is marketing management? designing a customer-driven marketing strategy, preparing an integrated marketing plan and program, building customer relationships, capturing value from customers, the changing marketing landscape. | LECTURE 2 Marketing Creating and Capturing Customer Value Copyright 2012 Pearson Education Inc. 1- 1- 11 Publishing as Prentice Hall Topic Management What Is Marketing Outline Designing a Customer-Driven Marketing Strategy Preparing an Integrated Marketing Plan and Program Building Customer Relationships Capturing Value from Customers The Changing Marketing Landscape Copyright 2012 Pearson Education Inc. 1- 2 Publishing as Prentice Hall Designing a Customer-Driven Marketing Strategy Marketing management is the art and science of choosing target markets and building profitable relationships with them What customers will we serve How can we best serve these customers Copyright 2012 Pearson Education Inc. 1- 3 Publishing as Prentice Hall Designing a Customer- Driven Marketing Strategy Selecting Customers to Serve Market segmentation refers to dividing the markets into segments of customers Target marketing refers to which segments to go after Copyright 2012 Pearson Education Inc. 1- 4 Publishing as Prentice Hall Designing a Customer- Driven Marketing Strategy Choosing a Value Proposition Brand s Value Proposition Set of benefits or values a company promises to deliver to customers to satisfy their needs Copyright 2012 Pearson Education Inc. 1- 5 Publishing as Prentice Hall Designing a Customer- Driven Marketing Strategy Marketing Management Orientations Copyright 2012 Pearson Education Inc. 1- 6 Publishing as Prentice Hall Designing a Customer- Driven Marketing Strategy Marketing Management Orientations Production concept consumers will favor products that are available and highly affordable Copyright 2012 Pearson Education Inc. 1- 7 Publishing as Prentice Hall Designing a Customer- Driven Marketing Strategy Marketing Management Orientations Product concept consumers favor products that offer the most quality performance and features. Focus is on continuous product improvements. Copyright 2012 Pearson Education Inc. 1- 8 Publishing as Prentice Hall Designing a .