Chapter 13 - Marketing: Helping Buyers Buy
WHAT’S MARKETING? Page: 362 - 366
Marketing
The Evolution of Marketing
Production Era
Selling Era
Marketing Concept Era
The Marketing Concept includes three parts:
Customer Orientation
Service Orientation
Profit Orientation
Customer Relationship Era
Six Steps for Keeping Your Customers Happy:
1. Build trust
2. Emphasize the long term
3. Listen
4. Treat your customers like stars
5. Show appreciation
6. Remember employees are customers too!
Nonprofit marketing tactics include:
Fundraising
Public Relations
Special Campaigns
Ecological practices
Changing public opinions and attitudes
Increasing organizational membership
Nonprofit marketing strategies include:
Determine the firm’s goals and objectives
Focus on long-term marketing
Find a competent board of directors
Exercise strategic planning
Train and develop long-term volunteers
Carefully segment the target market
THE MARKETING MIX:Page: 366 - 369
Applying the Marketing Process
Designing a Product to Meet Consumer Needs
o Product
o Test Marketing
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o Brand Name
Setting an Appropriate Price
Pricing products depends on many factors:
o Competitors’ prices
o Production costs
o Distribution
o High or low price strategies
Getting the Product to the Right Place
Developing an Effective Promotional Strategy
Be a likeable salesperson:
Have confidence.
Be intriguing.
Show interest in others.
Be enthusiastic and respectful.
PROVIDING MARKETERS WITH INFORMATION:Page: 370 - 372
Marketing Research
The Marketing Research Process:
1. Defining the question (the problem or opportunity) and determiningthe
present situation.
2. Collecting research data.
Secondary Data
Primary Data
Focus Group
3. Analyzing the research data.
4. Choosing the best solution and implementing it.
KEY BENEFITS of MARKETING RESEARCH:
Analyze customer needs and satisfaction.
Analyze current markets and opportunities.
Analyze the effectiveness of marketing strategies.
Analyze marketing process and tactics currently used.
Analyze the reasons for goal achievement or failure.
WAYS to FIND OUT WHAT CONSUMERS THINK:
Conduct informal consumer surveys
Host a customer focus group
Listen to competitor’s customers
Survey your sales force
THE MARKETING ENVIRONMENT:Page: 372 - 375
Environmental scanning
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FIGURE 13.5 THE MARKETING ENVIRONMENT
Global Factors
Technological Factors
Sociocultural Factors
Competitive Factors
Economic Factors
The ABC’s of MARKETING:
Always be customer-focused.
Benchmark against the best firms.
Continuously improve performance.
Develop the best value package.
Empower your employees.
Focus on relationship building.
Goal achievement is the reward.
TWO DIFFERENT MARKETS: CONSUMER AND BUSINESSTO-BUSINESS (B2B):Page: 375
Consumer Market
Business-to-Business (B2B)
THE CONSUMER MARKET:Page: 375 - 380
Market Segmentation
Target Marketing
Geographic Segmentation
Demographic Segmentation
Psychographic Segmentation
Benefit Segmentation
Volume (Usage) Segmentation
Niche Marketing
One-to-One Marketing
Mass Marketing
Relationship Marketing
Effective relationship marketing is built on:
Open communication
Consistently reliable service
Staying in contact with customers
Trust, honesty, and ethical behavior
Showing that you truly care
STEPS in the CONSUMER DECISION-MAKING PROCESS:
Problem recognition
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Search for information
Evaluating alternatives
Purchase decision
Post-purchase evaluation
KEY FACTORS in CONSUMER DECISION-MAKING:
Learning
Reference Groups
Culture
Subcultures
Cognitive Dissonance
THE BUSINESS-TO-BUSINESS MARKET:Page: 380 -381
B2B marketers include:
Manufacturers
Wholesalers and retailers
Hospitals, schools and charities
Government
B2B MARKET DIFFERENCES:
There are relatively few customers.
Customers tend to be large buyers.
Markets are geographically concentrated.
Buyers are more rational than emotional.
Sales are direct.
Promotions focus heavily on personal selling.
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