Principles of Marketing by Philip Kotler.pptx

In this document I have covered 1st chapter of marketing for the students of Bs, ADP, BBA, B.Com Hon.

1. Principles of Marketing By: Philip Kotler Instructor: Afzaal Bajwa ( M.Phil -Accounting-PUGC)

2. Learning Outline What is Marketing? Marketing Process (Five Steps) Understand The Market Place and Customer Needs & Wants Design a Customer Value-Driven Marketing Strategy Contract an Integrated Marketing Program that delivers Superior Value Engage Customers, Build Profitable Relationships and Create Customer Delight Capture Value From Customers To Create Profits And Customer Equity

3. What is Marketing? Broader Sense: Marketing is a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others. Narrow Sense: Marketing involves building profitable, value laden exchange relationships with customers. Comprehensive Sense: The process by which companies engage customers, build strong customer relationships, and create customer value in order to capture value from customers in return.

4. The Marketing Process Creating and Capturing Customer Value Understand The Market Place and Customer Needs & Wants Design a Customer Value-Driven Marketing Strategy Contract an Integrated Marketing Program that delivers Superior Value Engage Customers, Build Profitable Relationships and Create Customer Delight Capture Value From Customers To Create Profits And Customer Equity

5. Understand The Market Place I Customer Needs & Wants Customer Needs and Wants Needs - state of felt deprivation for basic items such as food and clothing and complex needs such as for belonging. i.e. I am thirsty Wants - form that a human need takes as shaped by culture and individual personality. i.e. I want a Coca-Cola. Demands - human wants backed by buying power. i.e. I have money to buy a Coca-Cola.

6. Understand The Market Place I Customer Needs & Wants 2. Market Offerings Products (Tangible Things) Services, (Intangible Things) Experiences (Good or Bad)(Expectations) 3.Customer Value and Satisfaction Satisfied Dis-satisfied Outstanding 1000=1000 1000=600 1000=1500 Customer Value Satisfaction

7. Understand The Market Place I Customer Needs & Wants 4.Exchange and Relationships Is the act of obtaining a desired object from someone by offering something in return. 5.Markets The set of all actual and potential buyers of a product or service.

8. Modern Marketing Process

9. Design a Customer Value-Driven Marketing Strategy

10. Construct an Integrated Marketing Program Delivers Superior Value

11. Engage Customers, Build Profitable Relationships & Create Customer Delight Customer relationship management The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction.