10 Questions for Chapter 1
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Top 10 Ideas for Marketing for the 21st century
Marketing is...
1. Important to business success (why?) as it delivers top-line growth and customer loyalty/ retention to the company's brands
2. Meeting needs profitably (what?) through a set of processes that create, communicate and deliver customer value (how?) in a manner that benefits stakeholders
3. Used for 10 entities (goods, services, events, experiences, persons, places, properties, organizations, information and ideas. (for what?)
4. not confined to the marketing department. It involves everybody in the organization. (who?)
5. changing as a result of 9 major societal forces and 6 new consumer and 10 new company capabilities.
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6. Needs are basic human requirements. Marketing must understand and meet stated, real, unstated, delight and secret needs. Marketing can't create a need.
7. Wants are available choices for meeting needs. Demands are wants for specific products backed by ability to pay. Marketing creates and manages customer demand.
8. Marketers segment, target, position to its target markets value propositions (brands) which are benefits offered to satisfy customer needs.
9. Holistic marketing recognizes "everything matters" and includes 4 components: relationship, integrated, internal and socially responsible marketing
10. Successful marketing management involves 7 tasks: develop strategies/plans, capture market insights, connect with customers, build strong brands, shape offerings, deliver and communicate value and create long-term growth.
Prof. Bong De Ungria (Nov. 22, 2009)
1. Important to business success (why?) as it delivers top-line growth and customer loyalty/ retention to the company's brands
2. Meeting needs profitably (what?) through a set of processes that create, communicate and deliver customer value (how?) in a manner that benefits stakeholders
3. Used for 10 entities (goods, services, events, experiences, persons, places, properties, organizations, information and ideas. (for what?)
4. not confined to the marketing department. It involves everybody in the organization. (who?)
5. changing as a result of 9 major societal forces and 6 new consumer and 10 new company capabilities.
-------------
6. Needs are basic human requirements. Marketing must understand and meet stated, real, unstated, delight and secret needs. Marketing can't create a need.
7. Wants are available choices for meeting needs. Demands are wants for specific products backed by ability to pay. Marketing creates and manages customer demand.
8. Marketers segment, target, position to its target markets value propositions (brands) which are benefits offered to satisfy customer needs.
9. Holistic marketing recognizes "everything matters" and includes 4 components: relationship, integrated, internal and socially responsible marketing
10. Successful marketing management involves 7 tasks: develop strategies/plans, capture market insights, connect with customers, build strong brands, shape offerings, deliver and communicate value and create long-term growth.
Prof. Bong De Ungria (Nov. 22, 2009)
Thursday, November 5, 2009
Wednesday, November 4, 2009
Monday, November 2, 2009
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