Creating and Capturing Customer Value

PRESENTED BY:
Riasat Uddin Ahmed Boni Yamin Md.ikram Hossain Md. Twfiqur Rahman 2011-1-10-255 2010-3-10-047 2010-3-10-282 2010-3-10-048

EastWestUniversity

What Is Marketing ???

Understanding the Needs, Wants & Demands Creating value for Customers Satisfy customer Create Exchange Relationship

Understanding the Marketplace and Customer Need :

Customer Needs, Wants & Demands Market Offerings-Product, Service& Experiences Marketing Myopia Customer Value & satisfaction Exchange & relationships Markets

Customer Needs
People Felt of Deprivation. (Needs) Requirements like Food, Air, Water, Clothing, and Shelter to Survive.

Strong Needs for Creation, Education, and Entertainment.

Customer Wants

Needs take shape by Culture & Personality. (Wants)

Want Is mandatory part of life.

Demands
Wants backed by Money power. (Demand) Wants are wishes of human, buying power will convert these wants to demand.

People demand products with benefits that adds up to the most value & satisfaction.

Marketing Offering{Product ,Service, Experiences}

Market Offering:

Some combination of product and services, information or experience offered to a market to satisfy a need or want.
Marketing Myopia:

The mistake of paying more attention to the specific products a company offers than to the benefits and experiences produced by these products.

Exchanges & Relationships

Exchange: The act of obtaining a desired object from someone by offering something in return. In exchange there are 3 role:

Two parties Each party should have something of exchange Each parties willingness.

Exchanges & Relationships

Relationship: Marketers want to build strong relationships by consistently delivering superior value. In a market relationship there is a question Why Customer Live? Answer is:
15% said they found better customer. 15% said customer found cheap price. - 75% said customer live because of Negligence.

The set of all actual and potential buyers Of a product or service.

Marketing Management Orientations:

Five alternative concepts under which organizations design and carry out their marketing strategies. These are: > Production concept: Affordabiliity Distribution efficiency Example: Lenovo

Marketing Management Orientations (con't):

> Product Concept: Quality Improvements Applicable for: Mousetrap > Selling Concept: Availability Promotion Applicable for: Unsought Product

The marketing concept holds that the key to achieving organizational goals consists of being more effective than competitors in integrating marketing activities toward determining and satisfying the needs and wants of target markets. The marketing concept rests on four pillars: target market, customer needs, integrated marketing, and profitability.

Societal Marketing Concept

Company are not a institution outside the society. Company must run is activities inside the society and it have to think about the social-welfare. An idea that marketing strategy should consider delivering value to customers in the way that improve both the customers and society's well being. Societal marketing concept is a way to achieve success through profit by maintaining both the societys welfare and the consumers satisfaction .

Customer Equity
The total combined customer lifetime values of all of a companys current and potential customers.

Market Share
Market share is the portion or percentage of sales of a particular product or service in a given region that are controlled by a company. Market Share

= Firm's Sales / Total Market Sales

Differences Between Customer Equity and Market Share:

Customer equity is better measure of a firms performance than market share. Customer equity suggests the future, whereas market share reflects the past.

CADILLAC