Post on 05-Apr-2018
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Fashion Marketing &
Merchandising PrinciplesMAKING THE CONNECTION
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Objectives
Be able to define marketingand discuss its core concepts.
Be able to define marketing management andcompare the five marketing management orientations.
Understand customer relationship management andstrategies.
Realize the major challenges facing marketers in thenew connected millennium
7/31/2019 Kotler01 Exs
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Objectives
Be able to describe the
marketing process and theforces that influence it.
Learn the marketing
management functions,including the elements of the
marketing plan.
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Objectives
Be able to identify the major forcesshaping the new digital age.
Understand how companies haveresponded to the Internet withe-business strategies.
Be able to describe the four majore-commerce domains.
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Objectives
Be able to define the consumer
market and construct a simplemodel of consumer buyerbehavior.
Know the four major factorsthat influence consumer buyer
behavior.
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Marketing: ManagingProfitable Customer
RelationshipsChapter 1
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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
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Needs, wants,
and demands Marketing
offers:
includingproducts,services andexperiences
Value and
satisfaction
Exchange,transactions
andrelationships
Markets
Core Marketing Concepts
What is Marketing?
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Marketing Management Marketing managementis the art and science of
choosing target markets and building profitablerelationships with them.
Creating, delivering and communicating
superior customer value is key. Customer Management:
Marketers select customers that can beserved well and profitably.
Demand Management:
Marketers must deal with different demandstates ranging from no demand to too muchdemand.
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Marketing Management
Productionconcept
Productconcept
Selling
concept
Marketingconcept
Societal marketing concept
Management Orientations
Marketing Management
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CRM
CRMCustomerrelationship
management. . .is the overall process of building
and maintaining profitable
customer relationships bydelivering superior customer
value and satisfaction.
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CRM
It costs 5 to 10 times MOREto attract a new customer than
it does to keep a currentcustomer satisfied.
Marketers must be concernedwith the lifetime value of thecustomer.
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Marketing Challenges
Technological advances, rapid
globalization, and continuing socialand economic shifts are causingmarketplace changes.
Major marketing developmentscan be grouped under the themeof Connecting.
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Company and
Marketing Strategy:
Partnering to Build
Customer Relationships
Chapter 2
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Strategic Planning
Strategic planning is defined as:
The process of developing andmaintaining a strategic fit betweenthe organizations goals and
capabilities and its changingmarketing opportunities.
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Strategic Planning
Mission statements should . . .
serve as a guide for what theorganization wants to accomplish.
be market-oriented rather thanproduct-oriented.
be neither too narrow, nor too broad.
fit with the market environment.
be motivating.
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Strategic Planning
Business portfolio:
the collection of businessesand products that make upthe company.
Designing the business portfoliois a key element of the strategicplanning process.
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BCG Growth-Share Matrix
Strategic Planning
High RelativeMarket Share
HighMarketGrowth
LowMarketGrowth
Stars
CashCows
QuestionMarks
Dogs
Low RelativeMarket Share
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Product/Market Expansion Grid
Strategic Planning
Existing Products New Products
ExistingMarkets
NewMarkets
MarketPenetration
MarketDevelopment
ProductDevelopment
Diversification
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Marketing in the
Digital Age: Making
New Customer
ConnectionsChapter 3
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Major Forces Shaping
the Digital Age
Digitalization and Connectivity
The flow of digital informationrequires connectivity
Intranets, Extranets, and the Internet
The Internet Explosion
Key driver of the new economy
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New Types of Intermediaries
Brick-and-mortar firms often facedisintermediation from click-onlycompetitors
The click-and-mortar businessmodel has been highly successful
Customization and Customerization
Major Forces Shaping
the Digital Age
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Consumer Markets andConsumer Buyer
BehaviorChapter 6
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Definitions Consumer Buying Behavior
Buying behavior of individualsand households that buyproducts for personal
consumption. Consumer Market
All individuals/households who
buy products for personal
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Stimulus Response Model
Marketing and other stimulienter the buyers black boxand produce certainchoice/purchase responses.
Marketers must figure out whatis inside of the buyers blackbox and how stimuli are
Model of
Consumer Behavior
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Characteristics Affecting
Consumer Behavior
Cultural
Social
Personal
Psychological
Groups
Membership Reference
Aspirational groups
Opinion leaders Buzz marketing
Family Children can influence
Roles and Status
Key Factors
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Brand Personality Dimensions
Characteristics Affecting
Consumer Behavior
Sincerity
Ruggedness
Excitement
Competence
Sophistication
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Types of Buying-
Decision BehaviorDifference
between brands
SignificantDifferences
Complexbuying
behavior
Low
FewDifferences
Dissonance-reducingbuying
behavior
Habitual buyingbehavior
Variety-seekingbuying behavior
High
Involvement Level
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Five Stages:Need recognition
Information search
Evaluation of alternatives
Purchase decision
Postpurchase behavior
The Buyer Decision
Process
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Adopter Categories
Buyer Decision Process
for New Products
Innovators
Early Majority
Early Adopters
Late Majority
Laggards