Principles of Marketing and Building Customer Relationships
Near East University
Faculty Of Economics &
Administrative Sciences
MAN - 101 Introduction To Business
Week 6
- Marketing
Tu
ğberk KAYA
t
ugberk.
kaya@neu.edu.tr
Principles of Marketing: Building
Relationships with Customers for
Competitive Advantage (Chp. 11, 12 13)
“Activities, a set of institutions, and process for creating, communicating,
delivering, and exchanging offerings that have value for customers, clients,
partners and society at large.”
“Marketing is the management process which identifies, anticipates and
supplies customer requirements efficiently and profitably.” (Chartered
Institute of Marketing)
“Marketing is a social and managerial process buy which individuals and
groups obtain what they need and want through creating and exchanging
products and value with others” (Kotler et al. 2003)
Sources of customer value
Information
Convenience
Association
Added Value
Value for money
Marketing activities
Marketing research
Market analysis
Setting strategy
Planning
Developing new products
Managing product
portfolios
Liaising with Agencies
Recruiting and training
staff
Setting promotional
objectives
Designing promotional
mix
Marketing activities contd.
Managing and
protecting brands
Designing marketing
channels
Managing marketing
channels
Analysing competitor
activity
Managing customer
service
Ensuring customers
are satisfied
Evaluating and
reviewing activities
and plans
The 7 Ps of
marketing
Product -
A bundle of benefits
.
Price -
Total cost of acquiring the product.
Place -
The location where the exchange takes place.
Promotion -
All the communications activities of marketing.
Advertising, Personal Selling, Sales Promotions, PR
People -
The individuals involved in facilitating the exchange
process.
Process -
The set of activities which lead to delivery of the
product benefits.
Physical evidence –
Helps buyers make judgements
Scope of
marketing
Consumer marketing
Industrial marketing
Service marketing
Not-for-profit marketing
Small business marketing
International marketing
Definition of Segmentation
The identification of individuals or
organisations with similar
characteristics that have significant
implications for the determination of
marketing strategy.
The advantages of market segmentation
The process of market segmentation &
target marketing
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The characteristics of
individual customers
are understood
Customers are
grouped into segments
on the basis of having
similar characteristics
Segment 3 is judged
to be most attractive
and a marketing mix
strategy is designed
for that target market
Segmenting consumer markets
Two-way Dialogue With
Consumers
Focus on Building Long
Term Relationships With
Consumers
Marketing communications are part of a changing world
Old World
Old World
New World
New World
“Talking At” Consumers
Focus on Winning New
Customers
Marketers Relied Primarily
on Advertising and
Promotions
“Talking At” Consumers
Focus on Winning New
Customers
Marketers Relied Primarily
on Advertising and
Promotions
Macro versus micro environment
What is a brand?
A product is anything that is capable of satisfying
consumer needs.
A brand gives a product a distinctive identity
through the creation of a name, design or, more
usually, some combination of these.
Categories, brands and variants
Why strong brands are important
1.
Consumer perceptions and preferences are
affected by brand names.
2.
Barrier to competition.
3.
High market share, brand loyalty and profits.
4.
Base for brand extensions.
5.
Quality certification.
6.
Trust.
Strong brand names affect perceptions and preferences
Strong brand names affect perceptions & preferences
The rebranding process
Global branding decisions
References
Ebert, R. J. and Griffin, R. W. (2015)
Business
Essentials
. 10
th
Edn. Harlow: Pearson Education Limited
Kadri Mirze (2002)
Introduction to Business.
Istanbul:
Literatür Publishing.
Slides of Mary Munley had been also kindly used.
Any Questions?
t
ugberk.
kaya@neu.edu.tr
Marketing is a crucial management process that involves creating, communicating, delivering, and exchanging offerings to satisfy customer needs efficiently and profitably. It encompasses activities such as liaising with agencies, setting promotional objectives, conducting market analysis, and managing product portfolios. The concept of customer value, marketing activities, the 7 Ps of marketing, and the scope of marketing are also explored in this comprehensive study.
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Presentation Transcript
Near East University Faculty Of Economics & Administrative Sciences MAN - 101 Introduction To Business Week 6 - Marketing Tu berk KAYA tugberk.kaya@neu.edu.tr
Principles of Marketing: Building Relationships with Customers for Competitive Advantage (Chp. 11, 12 13) Activities, a set of institutions, and process for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners and society at large. Marketing is the management process which identifies, anticipates and supplies customer requirements efficiently and profitably. (Chartered Institute of Marketing) Marketing is a social and managerial process buy which individuals and groups obtain what they need and want through creating and exchanging products and value with others (Kotler et al. 2003)
Sources of customer value Information Convenience Association Added Value Value for money
Marketing activities Liaising with Agencies Recruiting and training staff Setting promotional objectives Designing promotional mix Marketing research Market analysis Setting strategy Planning Developing new products Managing product portfolios
Marketing activities contd. Managing and protecting brands Designing marketing channels Managing marketing channels Analysing competitor activity Managing customer service Ensuring customers are satisfied Evaluating and reviewing activities and plans
The 7 Ps of marketing Product - A bundle of benefits. Price - Total cost of acquiring the product. Place - The location where the exchange takes place. Promotion - All the communications activities of marketing. Advertising, Personal Selling, Sales Promotions, PR People - The individuals involved in facilitating the exchange process. Process - The set of activities which lead to delivery of the product benefits. Physical evidence Helps buyers make judgements
Scope of marketing Consumer marketing Industrial marketing Service marketing Not-for-profit marketing Small business marketing International marketing
Definition of Segmentation The identification of individuals or organisations with similar characteristics that have significant implications for the determination of marketing strategy.
The advantages of market segmentation Target market selection Tailored marketing mix Market segmentation Differentiation Opportunities and threats
The process of market segmentation & target marketing The disaggregated market market The segmented The target market 1 2 3 1 2 3 c1 c3 c2 c1 c5 c7 c3 c4 c8 c1 c5 c7 c3 c4 c8 c4 Marketin g mix targeted at segment 3 c2 c6 c2 c6 c6 c5 c7 c8 Customers are grouped into segments on the basis of having similar characteristics The characteristics of individual customers are understood Segment 3 is judged to be most attractive and a marketing mix strategy is designed for that target market
Segmenting consumer markets Consumer segmentation Profile Psychographic Behavioural Demographic Lifestyle Benefits sought Socio-economic Personality Purchase occasion Geographic Purchase behaviour Usage Perceptions and beliefs
Marketing communications are part of a changing world New World Old World Two-way Dialogue With Consumers Consumers Two-way Dialogue With Talking At Consumers Talking At Consumers Focus on Building Long Term Relationships With Consumers Consumers Focus on Building Long Term Relationships With Focus on Winning New Customers Customers Focus on Winning New Marketers Use and Coordinate Many Different Forms of Communication With Consumers Marketers Relied Primarily on Advertising and Promotions Promotions Marketers Relied Primarily on Advertising and
What is a brand? A product is anything that is capable of satisfying consumer needs. A brand gives a product a distinctive identity through the creation of a name, design or, more usually, some combination of these.
Categories, brands and variants Category Brand A Brand C Brand B Variants A1 A2 A3 Variants B1 B2 B3 Variants B1 B2 B3
Why strong brands are important 1. Consumer perceptions and preferences are affected by brand names. 2. Barrier to competition. 3. High market share, brand loyalty and profits. 4. Base for brand extensions. 5. Quality certification. 6. Trust.
Strong brand names affect perceptions and preferences Blind % Prefer Diet Pepsi 51 Prefer Diet Coke 44 5 Equal / Can t say
Strong brand names affect perceptions & preferences Blind % Open % Prefer Diet Pepsi 51 23 Prefer Diet Coke 44 65 5 12 Equal / Can t say
The rebranding process Set rebranding objectives Generation of new names Screening Information search Consumer research Choice of new brand name Implementation
Global branding decisions Brand form Quality Formulation Design Variants Global branding Brand additions Brand communications Name Execution Packaging Delivery Service Guarantees
References Ebert, R. J. and Griffin, R. W. (2015) Business Essentials. 10th Edn. Harlow: Pearson Education Limited Kadri Mirze (2002) Introduction to Business. Istanbul: Literat r Publishing. Slides of Mary Munley had been also kindly used.
Any Questions? tugberk.kaya@neu.edu.tr
