Marketing Principle

Marketing Principle
Notebooks
Nguyen Minh Chau
S3978188

Topic 1: what is marketing?
Marketing is the process that engages customers, builds strong customer
relationships, and creates customer value to capture value from
customers in return.
Example: Heineken: bring them together, emotional value, culture
Dior: make customers feel the same energy like soft pretty graceful
Stage 1: understand the marketplace and customer needs
5 core customer and marketplace concepts
Customer needs, wants, and demands
Things are
essential such fas
food love, safer...
Things make us to
satisfy. Influenced
by cultural,
environmental, and
personal factors.
Desire of customers for
goods/service in the
market and the
ability to pay for it.

Market offerings: goods, services, and experiences
Physical products, services, activities or benefits offered for sale

Marketing myopia:
Attention to the specific products a company offers than to the
benefits and experiences from customers
EX: Kodak's marketing myopia
Too confident with their existing successful film camera that they
ignored the suggestion by Steve sasson, which he recommend the firm
should invest in a new type of camera (digital camera)
Customer value and satisfaction:
- Customers form expectations about the value and satisfaction that
different market offerings will bring, and buy accordingly
- creating the balance between customer expectations and the
market's ability to deliver value.
Exchanges, transactions and markets.
Receiving goods or
services from others and
offering something in
return
A deal between two parties that
involves at least tho things of
values, agreed-upon
conditions and a time and of
place agreement
Marketing's unit of
measurement
There is a
combination of
all actual and
potential buyers
of a product or
service

Stage 2: Design a customer-driven marketing strategy
Designing a customer-driven marketing strategy
Marketing management
Defined as the art and science
of choosing target markets
and building profitable
relationships
To find, attract, keep, and grow
target customers by creating,
delivering, and communicating
superior customer value.
Select customers to serve
- Can serve well and profitably
- Dividing the market into segments
of customers (market segmentation)
and selecting which segments will be
suitable (target marketing)
Choose a value proposition
Marketing management orientations
Product concept.
- Available affordable
- Focus on improving production
and distribution efficiency
- Offer the most in qualify,
performance, and innovative feature
- Continuous product improvement
Production concept

Selling concept
- Large scale selling
- Promotion effort
Consumers will buy
Marketing concept
- Understanding customer needs
- Desired satisfactions better than competitors do
- Make products suitable for local people
Societal marketing concept
- Considering consumers wants
- The company's requirements
- Consumers' long-term interests and society's long-run interests.
⇒ community needs
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