Documente Academic
Documente Profesional
Documente Cultură
PRINCIPLES OF MARKETING
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Total Customer Total Customer Cost Cost Customer Customer Delivered Value Delivered Value
(Product, Service, (Product, Service, Personnel, & Personnel, & Image Values) Image Values) (Monetary, Time, (Monetary, Time, Energy, & Energy, & Psychic Costs) Psychic Costs) (Profit to the (Profit to the Consumer) Consumer)
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Customer Satisfaction Results When a Companys Performance Has Fulfilled a Buyers Expectations.
Products Actual Performance
Performance Exceeds ExpectationsCustomer is Delighted
Buyers Expectations Are Based On: Customers Past Buying Experiences Opinions of Friends & Associates Marketer/ Competitor Information & Promises
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Delighted customers have emotional and rational preferences for products, and this creates high customer loyalty. Therefore, the purpose of Marketing is to generate customer value profitably.
The Need for Customer Retention The Need for Customer Retention
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The Key to Customer Retention is Superior Customer Value and Satisfaction. Companies Must Consider:
New New Customer Customer Costs Costs Customer Customer Lifetime Lifetime Value Value
Building Customer Satisfaction and Building Customer Satisfaction and Loyalty by Relationship Marketing Loyalty by Relationship Marketing
Relationship Marketing Involves Creating, Maintaining, and Enhancing Strong, Long-Term Relationships with Customers and Other Stakeholders. Methods for Building Relationships Include Offering:
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Financial Financial Benefits Benefits Social Social Benefits Benefits Structural Structural Ties Ties
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Margin
Primary Activities
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Retailer Retailer
Producer Producer
Delivery
Delivery
Delivery
Delivery
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Necessary But May Necessary But May Not Be Sufficient Not Be Sufficient Does Not Does Not Cost More Cost More Quantum Quantum Leaps Leaps Continuous Continuous Improvement Improvement
Quality is in the Quality is in the Eyes of the Customer Eyes of the Customer
Pursuing Pursuing a Total a Total Quality Quality Marketing Marketing Strategy Strategy
Every Company Every Company Activity Activity Total Employee Total Employee Commitment Commitment High Quality High Quality Partners Partners
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Selecting Competitors to Selecting Competitors to Attack and to Avoid Attack and to Avoid
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Focus Focus
Developing Additional Competitive Developing Additional Competitive Marketing Strategies Marketing Strategies Value Disciplines Value Disciplines
Operational Operational Excellence Excellence Customer Customer Intimacy Intimacy
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Firm with the Largest Firm with the Largest Market Share Market Share Runner-Up Firms that Runner-Up Firms that Fight Hard to Increase Fight Hard to Increase Market Share Market Share
Runner-Up Firms that Want Runner-Up Firms that Want to Hold Their Share Without to Hold Their Share Without Rocking the Boat Rocking the Boat Firms that Serve Small Firms that Serve Small Segments Not Being Segments Not Being Pursued by Other Firms Pursued by Other Firms
Follow Closely Follow Closely Follow at a Distance Follow at a Distance By Customer, Market, By Customer, Market, Quality-Price, Service Quality-Price, Service Multiple Niching Multiple Niching
Balancing Customer and Balancing Customer and Competitor Orientations Competitor Orientations
Customer-Centered Customer-Centered Competition-Centered Competition-Centered
No No No No Yes Yes
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Yes Yes