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Marketing: Managing Profitable Customer Relationships

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Marketing: Managing Profitable Customer Relationships Chapter 1 * * The Girl Scout Council of Cumberland Valley s effort to change the image of scouting among teens ... – PowerPoint PPT presentation

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Title: Marketing: Managing Profitable Customer Relationships


1
Marketing Managing Profitable Customer
Relationships
  • Chapter 1

2
About the lecturer
  • Zaipul Anwar Bin Zainudin
  • Institute of Product Design Manufacturing,
    Universiti Kuala Lumpur
  • Tel 03-27154715
  • Email zaipulanwar_at_iprom.unikl.edu.my
  • Website http//www.zaipul.net
  • Blog http//5wives1husband.blogspot.com/

3
Objectives
  • Be able to define marketing and discuss its core
    concepts.
  • Be able to define marketing management and
    compare the five marketing management
    orientations.

4
Objectives
  • Understand customer relationship management and
    strategies.
  • Realize the major challenges facing marketers in
    the new connected millennium.

5
What is Marketing?
  • Marketing is managing profitable customer
    relationships
  • Attracting new customers
  • Retaining and growing current customers
  • Marketing is NOT synonymous with sales or
    advertising

6
What is Marketing?
  • Kotlers social definition
  • Marketing is a social and managerial process by
    which individuals and groups obtain what they
    need and want through creating and exchanging
    products and value with others.

7
What Can Be Marketed?
  • Goods
  • Services
  • Places
  • Ideas
  • Events
  • Persons
  • Properties
  • Organizations
  • Information
  • Experiences

What is being marketed in this ad?
8
Figure 1-1 Core Marketing Concepts
9
Discussion Question
  • Resellers are a primary market for Nikes
    products.
  • Describe the exchange process between Nike and
    resellers.
  • Think beyond the obvious.

10
Figure 1-2 Elements of a Modern Marketing
System
11
Marketing Management
  • Marketing management is the art and science of
    choosing target markets and building profitable
    relationships with them.
  • Creating, delivering and communicating superior
    customer value is key.

12
Marketing Management
  • Customer Management
  • Marketers select customers that can be served
    well and profitably.
  • Demand Management
  • Marketers must deal with different demand states,
    ranging from no demand to too much demand.

13
Marketing Management
Demarketing Commuter Connections promotes the
use of mass transit and carpooling as an
alternative to driving alone.
CommuterConnections
14
Marketing Management
Management Orientations
Production Concept
Product Concept
Selling Concept
Marketing Concept
Societal Marketing Concept
15
Figure 1-3 The Selling and Marketing Concepts
Contrasted
16
Figure 1-4 Considerations Underlying the
Societal Marketing Concept
17
Figure 1-5 Relationship Between Customer
Satisfaction and Loyalty
18
CRM
  • Customer relationship management (also called
    CRM) is defined as

the overall process of building and maintaining
profitable customer relationships by delivering
superior customer value and satisfaction.
19
CRM
  • It costs 5 to 10 times MORE to attract a new
    customer than it does to keep a current customer
    satisfied.
  • Marketers must be concerned with the lifetime
    value of the customer.

20
BusinessNow
SatMetrix Video Clip
View what the experts have to say about customer
loyalty and the bottom line.
Click the picture above to play video
21
CRM
  • Customer value and satisfaction
  • Perceptions are key
  • Created by meeting/ exceeding expectations
  • Loyalty and retention
  • Many benefits of loyalty
  • Increases as satisfaction levels increase
  • Delighting consumers should be the goal
  • Growing customer share
  • Cross-selling

Key Concepts
  • Attracting, retaining and growing customers
  • Building relationships and customer equity

22
CRM
Key Concepts
  • Customer equity
  • Total combined customer lifetime values of all
    customers
  • Measures firms performance, but in a manner that
    looks to the future
  • Attracting, retaining and growing customers
  • Building relationships and customer equity

23
CRM
  • Customer relationship levels and tools
  • Target market typically dictates type of
    relationship
  • Basic relationships
  • Full relationships
  • Customer loyalty and retention programs
  • Adding financial benefits
  • Adding social benefits
  • Adding structural ties

Key Concepts
  • Attracting, retaining and growing customers
  • Building relationships and customer equity

24
Marketing Challenges
  • Technological advances, rapid globalization, and
    continuing social and economic shifts are causing
    marketplace changes.
  • Major marketing developments can be grouped under
    the theme of Connecting.

25
Figure 1-6 Todays Marketing Connections
26
Marketing Challenges
Connecting
  • Advances in computers, telecommunications,
    video-conferencing, etc. are major forces
  • Databases allow for customization of products,
    messages and analysis of needs
  • The Internet
  • Facilitates anytime, anywhere connections
  • Facilitates CRM
  • Creates marketspaces
  • Via technology
  • With customers
  • With marketing partners
  • With the world

27
Marketing Challenges
Connecting
  • Selective relationship management is key
  • Customer profitability analysis separates winners
    from losers
  • Growing share of customer
  • Cross-selling and up-selling are helpful
  • Direct sales to buyers are growing
  • Via technology
  • With customers
  • With marketing partners
  • With the world

28
Marketing Challenges
Connecting
  • Partner relationship management involves
  • Connecting inside the company
  • Connecting with outside partners
  • Supply chain management
  • Strategic alliances
  • Via technology
  • With customers
  • With marketing partners
  • With the world

29
Marketing Challenges
Connecting
  • Globalization
  • Competition
  • New opportunities
  • Greater concern for environmental and social
    responsibility
  • Increased marketing by nonprofit and
    public-sector entities
  • Social marketing campaigns
  • Via technology
  • With customers
  • With marketing partners
  • With the world

30
Connecting with Values . . . The Body Shop
Visit the Our Values and About Us sections
of The Body Shops web site. How might the
values espoused by the company influence the
manner in which the Body Shop . . .
  • Chooses their strategic partners?
  • Advertises fragrances to consumers?
  • Develops new products?
  • How might these decisions in turn
  • impact the bottom line?

The Body Shop
31
c
Amazon
  • Strong sales, no profits
  • Customer-driven to its core
  • Each customers experience is unique
  • Provides great selection, good value, discovery
    as well as convenience
  • A true online community

32
Reconnecting with Teens
Modernizing the Girl Scouts
The Problem Campfires and cookies werent
cutting it with todays teens. Scouting was
perceived as NOT cool and primarily for younger
kids.
33
Modernizing the Girl Scouts The Solution
  • Goal Adapt the curriculum to the needs of teens
  • Changed the Product Added activities related
    to technology and adventure sports
    rock-climbing, surfing, martial arts
  • Goal Promote a cooler image for the Girl Scouts
  • Campaign Theme Join Troop 2002
  • Target Market Diverse -- Girls of all ages and
    all races

34
Modernizing the Girl Scouts The Solution
  • TV Ad Execution Japanimation style visuals and
    throbbing electronica music were used to make
    scouting seem hip.
  • Taglines Campfire songs, the remix Be part
    of a girl band.
  • TV Vehicles MTV, VH1, Animal Planet, Nickelodeon
    (in TN, KY, and AL regions).
  • Other Media Used Stylized posters sent to
    schools, churches, community centers interactive
    media.
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