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George Abi Habib 1?What isW

herewhy

MARKETING

When

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The Start of marketing….

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The old days…Product centric.

You can have whatever color you like… as long as it is black.

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Limited choice….

George Abi Habib 5Limited Competition…

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Customer centric …

What I want, when I want, how I want it…

George Abi Habib 8Infinite choice…

George Abi Habib 9Intense Competition …

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What is marketing?

• “Marketing is the management process which identifies, anticipates and supplies customer requirements efficiently and profitably” Chartered Institute of Marketing

• “Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives”

American Marketing Association

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Simplified Definition

• “Marketing is the discovery of human needs or wants and the fulfillment of those demands with customer focused goods or services…”

• “The right product, in the right place, at the right time, at the right price”

People don't want to be "marketed to"; they want to be "communicated WITH."- Flint McLaughlin

In the factory we make cosmetics; in the beauty shop we sell hope. - Charles Revson

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Our Working definition

Marketing is the management of profitable customer relationships by the creation of added value in exchange for profits…

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Marketing is not Sales!

Factory Existing Product

Selling &Promoting

The Selling Concept

Profits from Satisfaction

MarketCustomer Needs

Integrated Market

The Marketing Concept

Profits from Volume

OBJECTIVE

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The Marketing Process

By creating value, you capture value

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Where is Value created?

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Needs

Wants

Demands

Today’s demands are tomorrow’s

needs

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What is added value?

$8 USD100 Oz.

$14 USD

$23 USD

$10 USD .33 Oz.

+300% Profit

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Real value, is unlocked in replication…. LOYALTY

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Customer Life time Value: The total Value of the combined purchases of a company’s customer over the lifetime of that relationship.

Which one would you buy…

Customer Equity = All customer lifetime value

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What is Customer equity worth?

$50,000,000,000

Butwhy?

Confidential 20

Recommended Reading• Books: 22 immutable laws of Branding, Losing my

Virginity, Brands and Branding, Brand Sense, The Google story.

• Magazine: Communicate Magazine, Advertising age,

kippreport.com

• Movies: The Big Kahuna, The social Network, The Aviator, Thank you for Smoking,