Marketing

• CREATING


  Process of collaborating with suppliers & customers to create offerings that have value
• COMMUNICATING

  Broadly, describing those offerings, as well as learning from customers
• DELIVERING


  Getting those offerings to the consumer in a way that optimizes value
• EXCHANGING


  Trading value for those offerings
• Marketing Mixed

  • Price
  • Product
  • Promotion
  • Place
• Marketing Components

  • Needs
  • Wants
  • Demands
  • Exchanges
  • Market
• Needs


  Basic human requirements, "must"
• Wants


  Desires shaped by culture, environment, & influenced
• Demands


  Actions taken by the market in response to their wants, backed up by willingness
• Exchanges


  Acts of obtaining a desired object in return
• Market


  Set of all actual & potential buyers of a product or service, composed of people with both desire & ability to buy a product or service, "hustle"
• Important Marketing Components

  • Needs
  • Wants
  • Demands
  • Exchanges
  • Market
• Types of Customer Markets

  • Consumer market
  • Business Market
  • Global market
  • Nonprofit and Governmental Markets
• Consumer market


  Consist of end users/consumers who purchase product for own consumption
• Business Market


  Consist of businesses & other entities that purchase raw material & resell
• Global market


  Have a global scope and a wider reach in terms of the marketing they target
• Nonprofit and Governmental Markets


  Have limited purchasing power and most buyers are practical.
• Goal


  What you want to accomplish, desired results, ambitions, given a time frame
• Objective


  Exact steps a company must take to reach its goals
• Tactics


  Tools used in pursuing an objective
• Strategy


  Long term methods or approaches and plan of actions towards the achievement of goals
• Building Brand awareness

  The extent to which a brand is recognized by potential customers and is correctly associated with a particular product or service
• 5 Marketing Goals

  • Building Brand Awareness
  • Thought Leadership
  • Lead Generation and Conversation
  • Boost Sales
  • Empower Colleagues
• Thought Leadership

  uses the expertise of people who can provide the best answers to customers most challenging questions about the product or service.
• Lead Generation & Conversation

  a lead in any person who indicate interest in a company's product pr service in some way, shape or form.
• Boost Sales (customers, influencers, partnerships)

  build and manage relationship
• Empower Colleagues (employees, prospective)

  how well your communication has been received & understood.
• Relationship Marketing

  involves creating, maintaining and enhancing strong relationships with customers and other stakeholders. The goal is to deliver long-term values to customers and the measure of success is long term satisfaction.
• 5 Levels of Relationship that can be formed with customers


  • Basic
  • Reactive
  • Accountable
  • Proactive
  • Partnership
• Basic


  Company not follow up, salesperson sells the product but does not in any way (just sells)
• Reactive


  Salesperson sells the product & encourages the customer to call whenever he or she has any questions or problems
• Accountable


  Salesperson phones the customer after a short time the sale to check whether the product is meeting the customer's expectations
• Proactive


  Salesperson phones the customer from time-to-time with suggestions about improved product use or helpful new products
• Partnership


  Company works continuously with the customer & with other customers to discover better ways to deliver value
• Customer Relationship

  builds customer relationship to gain the customer's loyalty.
• customer relationship

  • satisfaction
  • loyalty
  • service
  • reliability
  • improvement
  • marketing
  • quality
  • support
• customer relationship.

  the development of ongoing connection between a company and its customers. The relationship involves marketing communications, sales support, technical assistance and customer service
• Relationship Marketing

  an interaction with current customers and potential ones
• Benifits in Developing and Implementing Relationship Marketing

  • Consistent Customer Experience
  • Customer Feedback
  • Customer Profitability
  • Customer Advocates
  • Innovation
• SMART

  • Specific
  • Measurable
  • Attainable
  • Timely