- Marketing Creating Customer Value and Engagement
Learning Objectives
Objective 1: Define marketing and outline the steps in the marketing process.
Objective 2: Explain the importance of understanding the marketplace and customers and identify the five core marketplace concepts.
Objective 3: Identify the key elements of a customer-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy.
Objective 4: Discuss customer relationship management and identify strategies for creating value for customers and capturing value from customers in return.
Objective 5: Describe the major trends and forces that are changing the marketing landscapein this age of relationships.
Company and Marketing Strategy
In this chapter, we dig deeper into steps two and three of the marketing process:
- designing customer-driven marketing strategies
- constructing marketing programs.
First, we look at the organization’s overall strategic planning, which guides marketing strategy and planning.
Next, we discuss how, guided by the strategic plan, marketers partner closely with others inside and outside the firm to create value for customers.
We then examine marketing strategy and planning—how marketers choose target markets, position their market offerings, develop a marketing mix, and manage their marketing programs.
Finally, we look at the important step of measuring and managing return on marketing investment (marketing ROI).
1- Explain how companies find and develop new product ideas.
2- List and define the steps in the new product development process and the major considerations in managing this process.
3- Describe the stages of the product life cycle and how marketing strategies change during a product’s life cycle.
4- Discuss two additional product issues: socially responsible product decisions and international product and services marketing.
Marketing Channels
Objective 1: Explain why companies use marketing channels and discuss the functions these channels perform.
Objective 2: Discuss how channel members interact and how they organize to perform the work of the channel.
Objective 3: Identify the major channel alternatives open to a company.
Objective 4: Explain how companies select, motivate, and evaluate channel members.
Objective 5: Discuss the nature and importance of marketing logistics and integrated supply chain management.