Understand the needs and desires of the market and customers

Design a customer value-oriented marketing strategy

Build an integrated marketing plan that delivers superior value

Build profitable relationships and create customer delight

Obtain value from customers to create profits and customer equity

other

Any business that provides food and clothing is not a good business.

Therefore, you must do a profitable business

Attract customers by promising excellent value

Retain and grow existing customers by creating satisfaction

Obtain value from customers to create profits and customer equity

Physiological needs

social needs

personal needs

They are an inherent part of what makes us human

tangible product

Activities or benefits for sale

Such as people, places, organizations, information and ideas, etc.

Like the current sharing economy

Or short videos sharing your own experience fall into this category.

The experience of bringing goods by experts is also

The impact of negative reviews

Problems with the product itself

Malicious competition from competitors, etc.

It is the act of offering something in exchange for getting a desired item from another person.

Build strong and valuable customer relationships

It is managing the market to build valuable (profitable) customer relationships

definition

Select target customers [market]

Choose a value proposition

Marketing management orientation

definition

The foundation of relationship building: customer value and satisfaction

customer perceived value

Customer Satisfaction

Customer Relationship Levels and Tools

Tools for building customer relationships in the digital age

Work closely with others inside and outside the company to create and deliver more value to customers.

supply chain

Good customer relationship management produces customer delight. In turn, happy customers stay loyal and positively tell others about the company and its products.

customer lifetime value

To increase customer share, companies find ways to provide diversified products and services to existing customers, or use cross-selling and value-added selling to market more products and services to existing customers.

definition

Build the right relationships with the right customers

How we communicate, share information, entertain and shop

instant marketing

mobile marketing

While adjusting the brand value proposition to adapt to the current economic environment, it is also necessary to strengthen long-term brand equity.

Instead of rushing to lower prices in uncertain economic times, try to maintain price levels while explaining why your brand is worth the price.

Business unit, product and market levels

Example

The best business portfolio is often the result of the best match of a company's strengths and weaknesses with opportunities in the environment

Most large companies have complex portfolios of businesses and brands

analyze and decide

Steps in Business Portfolio Analysis

Boston Consulting Group Law

To compete more effectively, meet stakeholder needs and attract talent, companies need to continue to grow.

Product/Market Expansion Matrix

Streamlining strategy

Partnership management must also occur. They must work closely with partners in other departments of the company to form an effective value chain to serve customers

Products that meet customer expectations sold at highly competitive prices

Purchase at low cost

purchase

Provide timely and accurate information on store merchandise sales

Efficient, low-cost fulfillment and delivery

supplier

dealer

final customer

To create “the best places and ways to eat for our customers”

SWOT

Marketing department organization

market segmentation

Target market selection

Differentiation

position

product

Pricing

channel

Promotion

analyze

plan

implement

control

An important method of measuring marketing performance is to use the net return on marketing investment to the cost of marketing investment.

Marketing dashboards provide the detailed measurement data marketers need to evaluate and adjust their marketing strategies.

Get customers

retain customers

customer lifetime value

Customer rights

The effectiveness of each marketing program should be measured by whether it loses customer engagement, ultimately promotes purchasing behavior and increases revenue.

Consisting of all external actors and forces that influence a marketing manager’s ability to build and maintain strong relationships with their target customers

market research

marketing intelligence

enterprise

supplier

marketing agency

customer

competitor

public

Create customer value

Create customer satisfaction

Build relationships with customers

population

economy

nature

technology

politics

culture

A study of a population based on population size, density, geographic location, age, gender, race, occupation, and a number of other statistics

The three largest groups

Marketing to different generations

More and more people are getting divorced or breaking up, choosing not to get married, getting married late, or not having children after marriage.

The number of professional girls is also growing rapidly

This is an era of national and international migration of the master population

A recent study estimated that 24% of working people do some or all of their work from home

From network-connected computers, printers and copiers to shared spaces in meeting rooms and breakout areas

The ethnic and racial structure of each country is very different.

As the U.S. population becomes increasingly diverse, successful marketers will continue to diversify their marketing programs to take advantage of the opportunities presented by these fast-growing market segments

Made up of various factors that influence consumer purchasing power and spending patterns

The right mix of fair prices and quality products and services

Expect more, spend less

The lowest price this season, happiness, sunshine, money saving, free shipping every day

Over the past few decades, the rich have gotten richer, the middle class has shrunk, and the poor have gotten poorer.

shortage of raw materials

Worsening pollution problem

The government has stepped up its intervention in natural resource management

Committed to creating a world economy that the planet can sustain indefinitely

There is a connection between a good ecological environment and a healthy economy, and environmentally responsible behavior can also enable business development

More and more companies are making environmental sustainability part of their core mission

New technologies bring exciting opportunities for marketers

The technological environment changes rapidly

New technologies create new markets and opportunities

As products and technologies become more complex, the public often worries about their safety

Made up of laws, government agencies, and pressure groups that influence or restrict various organizations and individuals in a given society

laws regulating business

The need for government legislation

New laws and their enforcement agencies continue to be added

Constrained by social norms and professional ethics

socially responsible behavior

cause related marketing

Consistency of cultural values

Changes in subcultural values

First, the LEGO Group must rebuild customer relationships

In addition to traditional research methods and data analysis, the LEGO Group uses innovative immersive research methods to understand the profound motivations for people to buy and play with LEGO toys.

Today’s children are easily bored and, in today’s rapidly changing environment, they are exposed to a richer range of themes, people and technologies

Another customer insight gained from ethnographic research is that children no longer perceive a clear distinction between digital and tangible toys.

The LEGO Group and its customers are also closely connected with the times.

The story of the LEGO Group inspires us that great products and marketing programs start with great customer information.

Customer needs and purchasing motivations are often not obvious—often even consumers themselves cannot tell exactly what they need and why they want to buy it.

To gain quality customer insights, marketers must effectively manage marketing messages from various channels.

Refers to the large amounts of complex data generated by today's sophisticated information generation, collection, storage and analysis technologies

Their job is to build actionable insights from marketing messages and work with marketing decision makers to apply those insights.

Responsible for delivering brand, business and consumer focused insights

Consists of people and processes that evaluate information needs, develop the information needed, and help decision makers use the information to gain and substantiate reliable customer and market insights.

First, it interacts with these information users to evaluate information needs

It then interacts with the marketing environment to obtain the required information through the company's internal databases, marketing intelligence collection, and marketing research activities.

Finally, it helps users analyze and use information to build customer insights, make marketing decisions and manage customer relationships

Internal Information

marketing intelligence

marketing adjustments

Defining the problem and research objectives is often the most difficult step in the entire research process

A statement of the problem and research objectives will guide the entire research process

Marketing research purpose

The research plan should list the sources of data and indicate specific research methods, contact methods, sampling plans, and means of collecting data.

Secondary data

Raw data

Execute research plan

Researchers should not try to stump managers with numbers and complicated statistical techniques, but should clearly and concisely present the main findings and insights that will be useful for managers in making important decisions.

Marketers have a better understanding of the problems and decisions they face

If it is found that it can be explained in different ways, discussions between researchers and managers will help find the best explanation

Manage all customer details and carefully manage customer touchpoints to maximize customer loyalty.

Many consumers have a positive attitude toward marketing research and believe it is useful.

However, some people hate or even distrust marketing research

The key questions are:

Survey research is a powerful tool of persuasion; companies often disclose research results as evidence or language in their advertising and promotions

Qualitative research methods used in anthropology and other social sciences to conduct up-close and personal research.

Try insights that even consumers themselves don’t know

But for those who enjoy cooking, it is an essential ingredient in soups, sauces and stews

Campbell Soup's primary goal is to enhance customers' food experience

Harley-Davidson: Selling Freedom, Independence, Power and Authenticity

Refers to the purchasing behavior of consumers - individuals or families who purchase product packages and services for personal consumption.

Final consumers make up the consumer market

marketing incentives

product

Pricing

channel

Promotion

other

economy

technology

society

culture

Buyer Characteristics

buyer decision process

Buying attitudes and preferences

purchase behaviour:

Features include various

Decision-making process

It is the most fundamental reason for personal desires and behaviors

Human behavior is mostly acquired through learning

Children grow up in society, learning and establishing basic values, cognitions, preferences and behaviors from family and other important institutions.

Marketers are always trying to detect cultural changes to uncover potential demand for new products.

Every culture contains smaller subcultures.

Many subcultures form important market segments, and marketers often design and develop marketing plans based on their needs

Social class structure exists in almost every society.

Social class

Groups and social networks

The impact of word-of-mouth

online social network

Family members also have a strong influence on buyer behavior

Couples’ level of involvement at different purchase stages varies significantly across product categories

Children have an important influence on family purchasing decisions

Role

An individual's occupation affects the products and services he purchases

A company may even specialize in offering products to a certain occupational group

People change products and services throughout their lives

Personal financial status will affect product selection

It is a way of life for individuals to express their psychology.

It needs to measure consumers’ AIO dimensions

Marketers look for lifestyle segments and satisfy the needs of specific segments through special products or marketing efforts.

Everyone’s buying behavior is influenced by their unique personality

self-concept (self-image)

When a need is strong enough, it becomes a motivation. Motivation is also a need that prompts people to seek satisfaction

Sigmund Freud postulated that people do not understand the true psychological motivations that underlie their behavior. His theory is that individual purchasing decisions are influenced by subconscious motives. Even buyers themselves are not fully aware of these motives.

Why is it that while one person spends a lot of money and energy to satisfy his or her personal security needs, another person struggles to gain the respect of others?

five senses perception

Perception is the process by which people gather, organize, and interpret information to form a meaningful worldview.

Due to the existence of three cognitive processes: selective attention, selective distortion and selective memory, people may have different perceptions of the same stimulus.

Unconsciously influenced by marketing messages due to subliminal advertising

People always learn by doing

study

Learning occurs through the interplay of drives, stimuli, inducements, responses, and reinforcement

drive

inducement

The practical implications of learning theory for marketers are that they can associate products with strong drives, use motivational inducements, and provide positive reinforcement to create demand for the product.

People form beliefs and attitudes through practice and learning, which in turn affect people's purchasing behavior.

belief

manner

High involvement

This buyer will go through a learning process:

Need to understand product attributes and their relative importance

It is necessary to seek support from store sales staff and buyers’ friends to influence buyers’ final choice of brand.

High involvement

There is not much difference between brands

Buyers may make a purchase decision quickly because the brands are not very different after shopping around.

The main concern of buyers is

To combat this sense of dissonance, marketers should focus on post-purchase communications that provide evidence and support that make consumers feel good about their brand choices.

Occurs when consumer involvement is low and brand differentiation is subtle.

Consumers have low involvement in most low-cost, frequently purchased products.

In this case, consumer behavior does not go through the usual "belief-attitude-behavior" pattern.

This buying process involves the formation of brand beliefs through passive learning, followed by purchasing behavior, which may or may not be evaluated afterwards.

Brand Marketers of products with low differentiation and low involvement often use price and promotion to stimulate purchase of the product.

Consumers adopt diversity-seeking purchasing behavior under conditions of low involvement and high brand differentiation.

In this case, consumers often switch brands

The marketing strategies of leading brands in the market differ from those of smaller brands.

The purchasing process starts with the buyer confirming a certain problem or need, that is, confirming the need

When consumers are interested in a product, they may search for more information.

Generally, most of the product information consumers get comes from commercial channels

The most effective sources of information are personal sources

Marketers should carefully identify consumers' various sources of information, analyze and evaluate their relative importance.

How consumers process information and choose brands

Marketers should study the actual process by which buyers evaluate branding options.

By knowing how consumers evaluate products, marketers can take steps to influence their choices.

During the evaluation and selection stage, consumers rank brands and form purchase intentions.

Generally, a consumer's purchasing decision will be to purchase their favorite brand, but there are two factors that influence their purchasing intention and final purchasing decision.

What factors determine buyer satisfaction?

However, nearly all important purchases create cognitive dissonance

Why is customer satisfaction so important?

Many marketers are not just content with meeting customer expectations; they aim to delight them

Negative reviews of a company and its products can quickly damage consumers' impressions of the company and its products.

Consumers are aware of new products but lack relevant information

Consumers looking for relevant information about new products

Consumers consider whether to try the new product

Consumers try a new product in small quantities to improve their evaluation of the new product's value

The consumer decides to use the new product fully or regularly

adventurous

They care about whether others respect them. They are opinion leaders in certain fields and adopt new ideas early, but they are cautious.

More cautious, even though they are not leaders, adopt new ideas earlier than the general public

Often skeptical, they wait until most people have tried it before accepting the innovation.

Bound by tradition, they tend to take a skeptical view and only adopt innovations after they have become a tradition

The extent to which innovative products are superior to existing products

The extent to which an innovative product aligns with the values ​​and experiences of potential consumers

How easy it is to understand and use innovative products

The extent to which an innovative product can be tried on smaller units or costs

The extent to which people can observe or describe the benefits to others after using the innovative product

It ultimately comes from people's demand for consumer products

Cargill doesn't just sell products, it helps customers succeed using those products

In fact, many companies are implementing supplier development, systematically establishing and developing a network of supplier partners to ensure the timely availability of appropriate and reliable products and raw materials for manufacturing products or for resale to others.

marketing incentives

other stimuli

Purchasing Center

Interpersonal and personal factors (organizational influence)

Product or service selection

supplier option

Order amount

Delivery terms and times

Terms of Service

Payment

Purchasing Center

purchasing decision process

Repurchase directly

adjusted rebuy

The decision-making unit of the buyer’s organization

economy

Terms of supply

technology

Remediation/Control

compete

Culture and Customs

Target

strategy

process

organizational structure

system

Influence

Professional qualifications

authority

dynamic

Evaluating these interpersonal factors and group dynamics is often difficult

Age/education level

motivation

work position

personality

Preference

buying style

different buying styles

is the result of internal or external stimulation

Describe the characteristics and qualities of the desired product item

Buyers will develop a product description regarding the technical performance of the product item, which often requires a team of engineers to help conduct a value analysis

Buyers start looking for suppliers to discover the best candidates

Salespeople should pay attention to companies that are looking for suppliers and try to get them to consider their company

In the proposal inquiry stage, the buyer invites some qualified suppliers to submit proposals.

Request each alternative supplier to provide a more detailed written proposal or make a formal presentation

Members of the purchasing center carefully evaluate the options and select one or several suppliers.

During supplier selection, purchasing centers often list the characteristics of an ideal supplier and their relative importance.

Many buyers prefer multiple sources of supply, prompting long-term price and performance comparisons among several suppliers.

The buyer begins by preparing a description of the ordering procedure, which includes placing an order with the selected supplier and outlining conditions such as technical requirements, required quantity, delivery time, return policy, and warranty.

Repeat supply when the buyer needs it at an agreed price

They transfer responsibility for ordering inventory to suppliers

Buyers share sales and inventory information directly with a small number of key suppliers. Suppliers control inventory and automatically replenish supplies when needed.

Supplier Responsibilities for Managed Inventory

Buyers evaluate supplier performance

Suppliers need to monitor the factors that buyers use to evaluate performance to ensure that they are achieving expected levels of satisfaction

Every organization has its own way of buying and often has unique requirements for various buying situations.

Customer relationships have a significant impact on organizational purchasing, and different customer relationships may bring about different purchasing types and different purchasing processes.

Sellers must manage customer relationships beyond a single purchase.

Conduct a reverse auction

Engage in online trade exchanges and facilitate the transaction process centrally

Build your own company procurement website, specializing in e-procurement

Create external network links to key suppliers

General Services Administration

Defense Logistics Agency

Department of Veterans Affairs

CBD is not a “sale,” it is P&G’s unique approach to achieving our growth by working as “strategic partners” (rather than just suppliers) with the companies that ultimately sell our products to consumers.

I have everything I need at all times

Allowing it to leverage the power of its team structure better than its competitors, creating a real competitive advantage

Carefully designed to achieve four important goals

Four goals

Honesty and open and transparent dealings also help build long-term customer relationships.

At P&G, collaboration is usually a two-way street - P&G gives and customers give back

This unique P&G approach allows us to pursue growth by working with our customers as "strategic partners" to focus on mutually beneficial business development opportunities.

The company knows that the company will only be successful if its customers are successful

Positioning is obviously more popular and more attractive to ordinary people

has been providing simple food at affordable prices to working-class customers

However, as it gradually becomes more upscale, Dunkin' Donuts is careful not to alienate its original customer base.

Dunkin' Donuts' customers are primarily middle-income blue-collar and white-collar workers and include a variety of age groups and ethnicities.

Dunkin' Donuts is a top brand that meets and exceeds customer expectations in terms of taste, quality and customer service.

We are committed to providing Americans a high-value experience with quality coffee, baked goods, and drinks in a friendly environment

It doesn’t have to be fancy, as long as it actually meets the daily needs of Dunkin’ Donuts tribe members.

Clearly positioned as a high-style third place

In addition to homes and offices, featuring uniquely designed comfortable sofas, eclectic music, Wi-Fi and artistic wall designs

Starbucks focuses more on higher-income, more specialized groups.

geography

population

psychology

Behavior

Market segment size, purchasing power and underlying conditions can be measured

The company can effectively influence and serve market segments

The market segment must be large enough or profitable

Market segments should be conceptually easily distinguishable and respond differently to different marketing mix elements and initiatives.

Companies must be able to design effective marketing programs to attract and serve market segments

Market segment size and potential

Market segment structure and attractiveness

Company goals and resources

Refers to a group of buyers with common needs or characteristics that a company decides to serve.

very extensive

very narrow

between

Which strategy is best depends on the company's resources

When competitors use differentiated marketing or concentrated marketing, it is tantamount to committing suicide for a company to adopt undifferentiated marketing.

Smart target market selection allows a company to gain greater efficiency by focusing on the most profitable market segments it can best serve.

The digital age is even making children more vulnerable to marketing messages targeted at them

Use tailor-made brand information and products (services) to accurately market to each consumer. High precision and marketing can benefit both marketers and consumers, delivering the right brand message to the right customers

Marketers believe that using all this tight and personal information can better serve customers and companies

Therefore, in target marketing, the real question is not who to target, but how and why you choose your target market.

Don’t just consider the company’s own interests, but also consider the interests of target customers.

Identify possible value differentiation and competitive advantages on which to build positioning

Choose appropriate competitive advantages and develop an overall positioning strategy

The company must then effectively communicate and convey the chosen positioning to the target market

To build profitable relationships with target markets, marketers must understand customer needs better than competitors and deliver more customer value

Only companies that can effectively differentiate and position themselves to deliver customer excellence to their target markets can achieve competitive advantage.

Hire and train employees better than your competitors

The secret to its outstanding customer service lies in its carefully selected and well-trained happy staff

How many points of difference should be promoted?

Propaganda What are the differences?

value proposition

The value proposition directly answers the customer’s question

possible value proposition

Develop a positioning statement

Once the positioning is determined, the company must take effective measures to convey and communicate the established positioning to target customers.

All marketing mix strategies of the company must give strong support to the positioning strategy

The design of the marketing mix—products, pricing, channels, promotions—is arranging the tactical details of the positioning strategy.

Companies often find that it is much easier to come up with a good positioning strategy than to execute it

Target the right customers

Details win

above the sky

capture

creation

release

Approval

tangible product

A service, event, person, place, organization, idea, or a combination of the above

Service provided by

Such as: soap, toothpaste, salt

Physical examination, financial services

disney

Nike

apple

Just build the beauty brand experience. [Sales] is a matter of course

most basic level

second level

third level

It is a product purchased by the final consumer for personal consumption.

Classification

Consumer product marketing issues

definition

Classification