525- class1
TRANSCRIPT
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WELCOME TO MBA 525
Professor Notarantonio
Spring, 2016
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The singe !ost i!portant thing to re!e!"er a"o#t an$ enterprise is that there are no res#ts insi%e its &as' Theres#t of a "#siness is a satis(e% )#sto!er'* Peter +' r#)-er .1/0/2005On the Profession of Manage!entHarvard Business Press
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o& %o Mar-eters Satisf$
Nee%s3
#n%erstan% )ons#!ers
ana$sis of )ons#!er "eha4ior !ar-eting resear)h
seg!entation an% target !ar-et see)tion
!ar-eting !i
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Mar-eting e(ne%
Mar-eting is %e(ne% as an e)hange"et&een a (r! an% its )#sto!ers'
4
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Mar-eting Manage!ent +ra!e&or-
The 5Cs, STP an% the Ps )onstit#tethe !ar-eting !anage!entfra!e&or-
5
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What is 7a#e3
Benefts minus Costs
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Ehi"it 2'2The 7a#e E8#ation
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WAT 9S 7AL:E3
;:AL9T9CE
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7a#e Co!position
Monetary
costs
Time
Psychic andphysic costs
Product
Services
Employees
Image
Benefts
Costs(sacrifces)
alue(gain!loss)
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B:9L9N? 7a#e
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Creating NEW 4a#e
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Method
http://methodhome.com/http://methodhome.com/ -
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7a#e 9++E>S
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7a#e
The greatest 4a#e often ies o#tsi%e the pro%#)t$o# are seing' The greatest 4a#e !a$ "eintangi"es s#)h as the reationships the)#sto!er has &ith the )o!pan$, the ease of
"#$ing a pro%#)t or ser4i)e, )o!pan$ rep#tation,responsi4eness of the organiation, integrit$ ortr#st&orthiness
Or E7EN TE MA>ET9N? 9TSEL+ .!ar-eting &=
!eaning
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Po&er has shifte% fro! Co!pan$ toC#sto!er
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The NEW po&er of Wor%ofMo#th
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UNITED BREAKS GUITARS
The Po&er of DB#
http://www.youtube.com/watch?v=5YGc4zOqozo&feature=player_embeddedhttp://www.youtube.com/watch?v=5YGc4zOqozo&feature=player_embedded -
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O4er the past fe& $ears, &e ha4e
transitione% fro! a
Competitive, Dynamic
environment
To a
Hypercompetitive, Hyperdynamic
environment
Where the Customer is KING
http://www.youtube.com/watch?v=4fPybfTaIO0http://www.youtube.com/watch?v=4fPybfTaIO0 -
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TE NEW MA>ETPLACE
7AL:E
S:STA9NAB9L9T9C9Teationship
Era
1850 1950
1908
Model T 1stSold
1929
Great Depression
195
!orld !ar "" #nds
Seller$s
Market
%&yer$s
Market
1980$s
Glo'al (o)petition
198019*0
%irth of Marketing
(on+ept
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WhatGs Net33
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WAT 9S MEAN9N?+:L MA>ET9N?3
When $o#r !ar-eting is !eaningf# peope
)hoose to engage &ith $o# in an e)hange thatthe$ per)ei4e as 4a#a"eH "#t engage!ent ison$ the "eginningD &hate4er $o#r pro%#)t orser4i)e !a$ "e'
When $o#r !ar-eting is !eaningf#, the!ar-eting itsef a%%s 4a#e to PeopeGs i4es&hether or not the$ i!!e%iate$ "#$ &hat $o#Gre
seing'
The !ar-eting itsef is if of 4a#e to )ons#!ersin%epen%ent of the pro%#)t or ser4i)eD
Ie)erpt fro!J The Next Evolution o Marketing
T t i t
https://www.youtube.com/watch?v=Oh2-IB7W-kw&feature=youtube_gdata_playerhttps://www.youtube.com/watch?v=Oh2-IB7W-kw&feature=youtube_gdata_player -
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Turn customers intoraving -ans.
Do whatever it takes to keep them satisfied
Always exceed expectations
Never assume you are meeting your customers
needs- ask questions-proe! "urprise your customers with your gratitude#
$our customers need new ideas% even if they
dont ask for them- ecome their trusted advisor
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o& %o Mar-eters Satisf$
Nee%s3 #n%erstan% )ons#!ers
ana$sis of )ons#!er "eha4ior
!ar-eting resear)h
seg!entation an% target !ar-etsee)tion
!ar-eting !i
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Wh$ Cons#!er >esear)h3
?etting )oser to )ons#!ers no&ing ho& the$ per)ei4e o#r pro%#)t an%
ho& the$ per)ei4e o#r )o!petitorsG pro%#)ts no&ing their attit#%es to&ar%s o#r "ran%
no&ing ho& the$ "eha4e
NOW9N? OW TE< 9NTE>ACT W9T
P>O:CTS
no&ing o#r Cons#!ers
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no&ing o#r Cons#!ersseg!entation an% targeting
+ine$t#ne%
Seg!entationStrategiesAo&Mar-eters to
>ea)h On$ThoseCons#!ers9ntereste% in
B#$ing Their
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Senior Mg!tLea%ership E!po$ee C#sto!er
Training C#sto!er9n4o4e!ent
C#sto!er Satisfa)tion C#sto!er >etention
C#sto!er Lo$at$
C#sto!er Eperien)es C#sto!er So#tions C#sto!er Co!paints
C:STOME>+OC:SE
O>?AN9KAT9ON
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Loyal customers have a longcustomer history, buyat an above-averagepurchase amount, have a
highdesire to repurchase, have strongproductpreferencesfor the companys products andwouldrecommendthe companys products to friends,
relatives, and co-workers.
Ud hli C t:NE>WELM9N?
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Underwhelming Customers
Little or no customer focus translates into an unfocused competitive position and minimalcustomer satisfaction. The result is a vicious circle of poor performance.
:NE>WELM9N?C:STOME>S
CO>E C:>>9C:L:M
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"ervice-&uality 'odel
CO>E C:>>9C:L:M