How to make the offering available to target consumers.
The total combined customer lifetime values of all the company's current and potential customers. Summary for PPT/Study Notes Description Goal Create value for customers, capture value in return. Needs Basic requirements (Physical, social, individual). Wants Needs shaped by culture and personality. 4 Ps Product, Price, Place, Promotion. CRM Customer Relationship Management (Building loyalty). Societal Marketing
Beyond retaining good customers to capture customer lifetime value, firms want to increase their share of customer—the share they get of the customer’s purchasing in their product categories. To increase share of customer, firms can offer greater variety to current customers, or cross-sell and up-sell products. Customer Equity principles of marketing by philip kotler ppt chapter 1
Ahmed's shop, "Pedals and Wheels," was located in a busy part of town, surrounded by other shops and restaurants. Ahmed was excited to share his love of bicycles with the community and provide a convenient place for people to buy and repair their bikes.
Decide you will serve (segmentation and targeting) and how you will serve them (differentiation and positioning). 3. Construct an Integrated Program This is where the 4 Ps come in: Product: Create a need-satisfying offering. Price: Decide how much it costs. Place: How to make it available to consumers. Promotion: Communicate the offer. 4. Build Profitable Relationships How to make the offering available to target consumers
The first slide in any marketing presentation usually addresses the misconception: Marketing is not just selling or advertising.
To design a winning marketing strategy, a manager must answer two simple questions: What customers will we serve (what’s our target market)? Needs Basic requirements (Physical, social, individual)
The explosive growth of digital marketing, including online, social media, mobile, and video marketing, which has fundamentally changed how brands interact with consumers.
That line shocks new learners — but Kotler means: if you create real value, customers come to you.
