Understanding and Explaining the Value

of Customers
LEARNING OBJECTIVES
At the end of the lesson, you
should be able to:
understand and explain the value
of customers.
MARKETING PROCESS, MARKETING
PLAN
 A series of steps that allow organizations to
identify customer problems,
analyze market opportunities, and
create marketing materials to reach the
desired audience.
Consumer Behavior
 Consumer behaviour is the study of
how individual customers, groups or
organizations select, buy, use, and
dispose ideas, goods, and services to
satisfy their needs and wants. It refers
to the actions of the consumers in the
marketplace and the underlying
motives for those actions.
MARKET SEGMENTATION
 Market segmentation is the process of
dividing amarket of potential customers
into groups, or segments, based on different
characteristics. The segments created are
composed of consumers who will respond
similarly to marketing strategies and who
share traits such as similar interests, needs,
or locations.
MARKETING MIX
a combination of factors that can
be controlled by a company to
influence consumers to purchase
its products.
PRODUCT DEVELOPMENT
 The creation of products with new or
different characteristics that offer new or
additional benefits to the
customer. Product development may
involve modification of an
existing product or its presentation, or
formulation of an entirely
new product that satisfies a newly defined
customer want or market niche.
SERVICE MARKETING
 Services marketing is a broad category of
marketing strategies focused on selling anything
that is not a physical product. This includes
everything from personal services like medical
care and spa treatments, to the rental of vehicles
and spaces, to experiences like concerts and
dance lessons. Any method that can communicate
a service's appeal and benefits to customers is a
valid approach, including informational content,
promotional deals, advertisements, and many
other kinds of marketing materials.
DISTRIBUTION CHANNELS
 A distribution channel is a chain of
businesses or intermediaries through which
a good or service passes until it reaches the
final buyer or the end
consumer.Distribution channels can
include wholesalers,
retailers, distributors, and even the
Internet.
NEW TRENDS
 Habits or behaviors currently prevalent
among consumers of goods or services.
Consumer trends track more than simply
what people buy and how much they spend.
Data collected on trends may also include
information such as how consumers use
a product and how they communicate
about a brand with their social network.