12-1 Business in a Changing World Chapter 12 Customer-Driven Marketing McGraw-Hill/Irwin Copyright © 2009 by the McGraw-Hill Companies, Inc All rights 12-3 David’s Bridal: Captured 30% of the wedding dress market In the past 60 years, the bridal industry has reinvented itself numerous times David’s Bridal enters the market in the 1990’s and has never looked back 12-4 The Importance of Marketing Planning & execution to satisfy customer goals – •Product development •Product pricing •Product promotion •Distribution of goods, ideas, services 12-5 The Nature of Marketing MARKETING The group of activities that add value and designed to expedite transactions by creating, distributing, pricing, and promoting goods, services and ideas 12-6 The Nature of Marketing •Marketing is NOT – •Manipulating consumers •Selling & advertising •Marketing IS – •Satisfying consumers 12-7 Marketing The Exchange Relationship – act of giving up one thing (money, credit, labor, goods) in return (exchange) for something else (goods, services, or ideas) 12-8 Marketing – The Exchange Relationship The Exchange Process: Giving Up One Thing in Return for Another 12-9 Functions of Marketing Industry groups use marketing to increase demand for the industry’s product America’s Beef Producers 12-10 Bases for Market Segmentation •Demographic •Geographic •Psychographic •Behavioristic 12-27 Developing the Marketing Mix 12-28 Product A good, service, or idea that has tangible and intangible attributes that provide satisfaction and benefit to consumers Products should be sold at a profit 12-29 Price A value placed on a product or service that is exchanged between a buyer and seller 12-30 Distribution Making products available to consumers in the quantities and locations desired 12-31 Promotion A persuasive form of communication that attempts to expedite a marketing exchange by influencing individuals and organizations to accept goods, services, and ideas 12-32 Marketing Research Systematic and objective process to collect information about potential customers Guides marketing decisions 12-33 Collecting Data Primary data – marketing information that is observed, recorded or collected directly from respondents (consumers) Secondary data – information compiled inside or outside the organization for some purpose other than changing the current situation 12-34 Buying Behavior Buying behavior – decision processes and actions of people who purchase and use products •Consumers personal and household •Organizations for business use 12-35 Buying Behavior Perception – process by which a person selects, organizes, and interprets information received from one’s senses (hearing a radio ad, touching a product) 12-36 Buying Behavior Learning – brings changes in behavior based on information and experience Attitude – positive or negative feelings about something Personality – individuals distinguishing character traits, attitudes, or habits 12-37 Social Variables of Buying Behavior Social roles – set of expectations of individuals based on some position they occupy 12-38 Buying Behavior Reference groups – groups with whom buyers identify and whose values or attitudes they adopt Social classes – ranking of people into higher or lower positions of respect Culture – integrated, accepted pattern of behavior including thought, speech, beliefs, actions, and artifacts 12-39 What Does Green Marketing Mean for Marketers? • Entrepreneurial marketers will be leaders – new energy efficient products – changing consumption patterns (3 R’s) • Reduce carbon emissions – source locally – eco-friendly transportation – master e-business strategies • Green Marketing = Profits 12-40 The Marketing Mix and the Marketing Environment 12-41 ... Strategy Total-market approach – firm tries to appeal to everyone and assumes that all buyers have similar needs (e.g Salt, sugar, agricultural products) 12-21 Developing a Marketing Strategy Market... taking 12-11 The Marketing Concept The idea that an organization should try to satisfy customers’ needs through coordinated activities that also allow it to achieve its own goals 12-12 The Marketing.. .Business in a Changing World Chapter 12 Customer-Driven Marketing McGraw-Hill/Irwin Copyright © 2009 by the McGraw-Hill Companies, Inc All rights 12-3 David’s Bridal: Captured 30%