Principles of Marketing: Managing Customer Relationships in Asia

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Added on 2022/01/24

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This assignment provides a comprehensive overview of the core principles of marketing, emphasizing the importance of managing profitable customer relationships. It defines marketing as a process of creating value for customers and building strong relationships to capture value in return. The assignment outlines the marketing process, explores the marketplace and customer needs, and identifies the key elements of a customer-driven marketing strategy. It delves into customer relationship management, discussing strategies for creating and capturing customer value, and highlights the changing marketing landscape, including the impact of digital media and globalization. Additionally, it covers company-wide strategic planning, business portfolio design, and marketing's role in strategic planning. The document also examines the marketing mix and the forces that influence it, offering a thorough understanding of marketing concepts and practices.

Fourth Edition
Chapter 1
Marketing:
Managing
Profitable Customer
Relationships
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Principles of Marketing: An Asian
Perspective

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Marketing: Managing Profitable
Customer Relationships
Taobao’s marketing strategy propelled it ahead of its
competitors—it successfully drew big businesses like
China’s biggest bookstore, Xinhua, and leading
Japanese casual-wear maker, UNIQLO, into having a
presence on the e-tail portal.
Like Amazon and eBay, it facilitates transactions between
individual consumers and sellers including retailers and
wholesalers.
With smartphone penetration on the rise, Taobao is
poised to do even better.

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Learning Objectives (1 of 2)
Define marketing and outline the steps in the marketing
process.
Explain the importance of understanding the customers
and marketplace and identify the five core marketplace
concepts.
Identify the key elements of a customer-driven marketing
strategy and discuss the marketing management
orientations that guide marketing strategy.

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Learning Objectives (2 of 2)
Discuss customer relationship management and
identify strategies for creating value for customers
and capturing value from customers in return.
Describe the major trends and forces that are
changing the marketing landscape in this age of
relationships.

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Learning Objective 1.1 (1 of 2)
• Define marketing and outline the steps in the
marketing process.
What Is
Marketing?

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Open
7
What is Marketing?
• Defining Marketing
• Marketing is a process by
which companies create value
for customers and build strong
customer relationships to capture
value from customers in return.

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Open
8
The Scope of Marketing
Marketing is not
restricted to profit-
making
organizations.
Non-profits
(colleges,
hospitals,
churches, etc.)
must also
perform
marketing.
Marketing must
both attract new
customers and
build
relationships with
current
customers.
Most people think
of marketing as
selling and/or
advertising.
Its focus is really
on satisfying
customer needs.

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Open
9
1.1 What is Marketing?
• Marketing is all around you…
• Even in markets such as this in
Malaysia, marketing is at work. The
fruit seller has to understand her
market, distribute her fruits at the right
place, sell them at the right price, and
be alert of who else are selling fruits or
possible substitutes. She has to make
sure that she offers superior customer
value.

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10
What is Marketing?
• Marketing is about
delivering superior value…
Open
Nintendo’s Wii surged ahead of competition by delivering superior
value and customer satisfaction with its interactive games.