Wednesday, August 11, 2010

THE SOCIETICAL CONCEPT

This concept further elaborates the marketing approach to include consumer and society well being overall.


Environmental deterioration, resource shortage, explosive population growth, poverty, hunger etc are just a

few things in our society now. Marketing aims at delivering satisfaction more effectively and efficiently.

HOW MARKETING IS RESPONDING?

In view of the ensuring thing, marketing themes of the millennium are:

Relationship Marketing

Focusing on building long-term relationship with customers.
 
Customer-life-time Value


Regular delivery of product and its value at a reasonable price.

Customer Share

Offering product and services to existing customers on regular basis.

Individualizing

Treating customer individually on their merit.

Channels as partners

Making alliances with dealers as partners instead of traditional hostility.

The crux of the modern marketing is to develop the right product for the right people, at the right price, at

the right place and at the right time and with right services.

CONSUMER NEED

CONSUMER NEED


It is not always simple. It is difficult to correctly ascertain. A customer says. ‘I want an inexpensive car’ what

is he saying? He wants a car that is not expensive. So he needs a car but not expensive compared to his

income. Needs are

a. Stated need (an inexpensive Car)

b. Real need (wants a car which is lower in maintenance)

c. Unstated need (he wants a strong car)

d. Delighted need (he wants a road map of his country)

e. Secret need (he wants image in that car)

These are the series of his Need. Marketing job is to respond to all his needs. Marketers provide solution in

the shape of responsive marketing, anticipative marketing and creative marketing.

THE MARKETING CONCEPT

This concept holds that the key to organizational goals consists of company being more effective than


competitors in creating, delivering and communicating consumer value to the chosen target.

Marketing concept becomes clear in the following statements:

‘Find wants and fill them’.

‘You are the boss (Customer)’.

‘Have it in your way’.

THE SELLING CONCEPT

This concept emphasizes on aggressive selling and high promotional back up. Selling, concept is


practical on what we call as ‘unsought goods’ such as insurance, encyclopedia etc. At most times, the selling

concept is practical by managers having uniqueness and overcapacity. Their aim is to sell what they can

make rather that what the market needs. The customer still may not fully like the product and have

what we calls ‘bad-mouth’. Bad mouth is when a customer talks not in favours of the product. Bad mouth

travels fast.

THE PRODUCT CONCEPT

This concept is that consumers will favor that product, which offers most quality performance and


innovative features. The managers of this concept focus their attention towards making products more

superior and keep improving it. They assume that consumers admire and prefer well-made products

and appraise quality and performance. Automobile industry is one good example. There is always,

however, a chance that managers get caught in their own outlook and ignore what customers need.

Sometimes, they push certain features too far and overlook the customers’ real needs.

THE PRODUCTION CONCEPT

This philosophy approach is that consumers will prefer products that are widely available and are


inexpensive.

Managers of this concept concentrate on achieving high production efficiency, lower costs and mass

distribution. They assume that consumers are only interested in product availability and low prices.

Production concept does work for some products, but not for all kinds of products.

MARKETING ORIENTATION

the wants and needs of customers and potential customers to drive all the firm's strategic decisions. The


firm's corporate culture is systematically committed to creating customer value. In order to determine

customer wants, the company usually needs to conduct marketing research. The marketer expects that this

process, if done correctly, will provide the company with a sustainable competitive advantage.

The concept of marketing orientation was developed in the late 1960s and early 1970s at Harvard University

and at a handful of forward thinking companies. It replaced the previous sales orientation that was

prevalent between the mid 1950s and the early 1970s, and the production orientation that predominated

prior to the mid 1950s. Since the concept was first introduced in the late 1960s, it as been modified,

repackaged, and renamed as "customer focus", "the marketing philosophy", "market driven", "customer

intimacy", and "the marketing concept".
 

GENERAL RULES OF CEM

Apply the following rules of CEM for better marketing approach and results


• Provide product information to the customers

• Help to identify potential problem before it occurs

• Provide user friendly customer complaint registration

• Have prompt complaint handling system

• Provide fast back up service

• Provide quick correcting service

• Provide close mechanism on customer point of interaction

• Keep environment clean neat and fair

CUSTOMER EXPERIECENE MANAGEMENT TECHNIQUES AND STEPS

Marketers’ job is to apply Customer Experience Management very systematically-
STEP No 1
Analyze the experiential world of customers
• Get to know customer needs, wants and lifestyles
STEP No 2
Build the experiential platform
• Connecting strategy and implementation
• Connecting customers expectations
STEP No 3
Design brand
STEP NO 4
Structure customer interface
• All intangibles such as ordering, delivery, attitude behavior
STEP NO 5
Continue experiential innovation
• Anything that can improve customer’s own viewpoint on your products and
services.
CEM accepted purpose is to enable organization to better service through Introduction of reliable processes
and procedures for interacting with customers

by abbi

online books

geo news

CUSTOMER LIFETIME VALUE (CLV)

Marketers’ job is to build long-term association with Customer and his need. Since need is re-occurring,


Marketers long-term principle is to look at the value of the customer to the Company over the whole time

of his being a customer. This relationship IS BUILT WITH A CUSTOMER over a long period of time

and for a long time. Whenever the need arises, the customer relate to that product to satisfy need.

Whenever he feels hungry and wants to eat fast, he reverts to burgers and he decides in favor of a specific

brand. Even if he tries other brands of burgers, he would revert back to that brand more strongly and

shows his loyalty.
 
 
by sarah
 
geo news

CUSTOMER EXPERIENCE MANAGEMENT

In previous lectures, we have discussed Internal and External Customers. In this lecture, we will discuss


CUSTOMER NEEDS AND EXPECTATIONS and identify as to how we in Marketing attempt to

satisfy them.

NEED

Needs can be described as human requirements. Need is there and its natural. We need food to satisfy our

hunger, water to quench out thirst. Of course need can be more than just food, water and shelter. We need

recreation, education, entertainment and lots of other things to sustain our living.

WANT

Need becomes Want, when they are directed towards a specific object. When hungry we need food; but we

want say a burger. Want can vary from place to place and from people to people. A man in USA can want a

burger to eat when hungry whereas a man in Pakistan needs a ‘Nan”. Want can be different at different

income levels and in various times.

DEMAND

Want becomes a demand when backed up by an individual’s ability to pay for it. A hungry person can want

a burger, but does he have money to demand a burger. Or is there a burger available to him?

MARKETING JOB is not to create Need. Need is there. Marketing function is to offer a specific product

at a certain price and at a certain place (where need is) and at the time when Need is. If marketing function

is performed properly, the product is sold. Or else it would not sell, no matter what?
 
by eli
 
geo tv online
 
free books

BENCH MARK OF MARKETING

Marketing, as a discipline, has traveled a long distance in the last four decades. It is a craft of linking the


producers of goods and services with the existing and potential customers. The changes in the consumer

behavior, market place, channels of distribution, the merchandizing, display and almost anything have been

tremendous in the past few decades. The speed of change is stupendous. Major shopping malls, the range of

choices, the buying pattern from personal to internet buying, credit cards etc has taken long strides towards

difference and has totally changed business outlook. The demand for more sophisticated products has

emerged almost in every field. Products have today very close similarities. The research has created nearly

the same kind of services and customer aids. Marketers are today faced with tough decisions. One wrong

decision or delayed decision can completely put business back and give competitors edge over the market

place, which in itself is a tough situation to face.

Today, we call it “marketing for the millennium” which is self-explanatory and challenging. Students

must learn to deal with advances in technology and its impact on marketing. Website today is perhaps as

important as packing.

One marketing specialist said it all

“The future isn’t ahead of us. It has already happened”.

Marketing is typically seen as the task of creating, promoting and delivering goods and services from

producers to consumers.

It has been so since long and perhaps marketing sounds easy if we closely look at the situation. But only

when we analyze, we learn how many changes have taken place in each sector of this creating, promoting

and delivering. The markets have expanded from cities to international; the mode of transport has changed.

Internet and satellite communication has made the globe shrink to almost a few seconds now. In fact all

things have changed. Marketing itself has incorporated many facets. Marketing today is difficult because of

awareness and exchange of information.

The Marketing task is not only to deliver the product. In fact, it entails much more than just promotion and

delivery. Marketing now is:

“Right product for the Right people at the Right time at the Right place at a Right price with Right

services”.

The marketing challenges are to find what is Right?. Marketing task is to stimulate demand for company’s

product. Marketing task is to manage demand, just as production and logistics professional are responsible

for supply management. For demand management., Marketing involves comprehensive understanding of

product ( goods and services), experiences, events, the consumers, the places, information, Ideas,

properties and even its own organization to be able to answer what is right, for whom, where, when and

how?

Marketers are said to be Managers of Demand. They have to know much more than just their own product

as it used to be.

To be able to answer questions more correctly, marketers must understand first the true import of some of

these terms:
 
by Homan Jo
geo tv live