From basic deprivation to culturally shaped desires backed by buying power.
The portion of the customer’s purchasing that a company gets in its product categories.
By creating superior customer value, the firm creates highly satisfied customers who stay loyal and buy more. This results in long-term returns for the firm: principles of marketing by philip kotler ppt chapter 1
The customer’s evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers.
The marketing process consists of five distinct steps. The first four steps focus on creating value for the customer, while the final step captures value from the customer. Understand the marketplace and customer needs/wants. Design a customer-driven marketing strategy. From basic deprivation to culturally shaped desires backed
– Visual flowchart of the 5-Step Marketing Process.
The Chapter 1 PPT outlines five competing concepts that guide a company’s marketing efforts. Understanding the progression from the first to the last is key to grasping the evolution of marketing thought. This results in long-term returns for the firm:
The Reality: The customer actually wants a 1/4-inch hole in the wall to hang a picture framework.
The final core concept is the , which is the set of all actual and potential buyers of a product or service . The size of a market depends on the number of people who have the need, have the resources to engage in an exchange, and are willing to offer these resources in exchange for what they want.
Continuous product improvement, quality, performance, innovation.