Zusammenfassung Chapter 11 PDF

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English Book Chapter 11: -

Introduction: o Marketing involves planning and executing the development, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals. o products consumers want to buy are available at a price they are willing to pay and that consumers are provided with information about product features and availability.

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Nature of marketing o is a group of activities designed to expedite transactions by creating, distributing, pricing, and promoting goods, services, and ideas. o These activities create value by allowing individuals and organizations to o just creating an innovative product that meets many users’ needs isn’t sufficient in today’s volatile global marketplace. o Products must be conveniently available, competitively priced, and uniquely promoted. o important part of a firm’s overall strategy. o has the important function of providing revenue to sustain a firm. o try to respond to consumer wants and needs and to anticipate changes in the environment. o it is difficult to understand and predict what consumers want ▪ Motives are often unclear; few principles can be applied consistently; and markets tend to fragment, each desiring customized products, new value, or better service. o It is not manipulating consumers to get them to buy products they do not want. o a systematic approach to satisfying consumers. o is essential and provides important benefits in making products available to consumers.

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The exchange relationship o Exchange: ▪ the act of giving up one thing (money, credit, labor, goods) in return for something else (goods, services, or ideas). o The buyer must feel good about the purchase, or the exchange will not continue. o buyers and sellers must be able to communicate about the “something of value” available to each.

o Each participant must be willing to give up his or her respective “something of value” to receive the “something” held by the other. o What most consumers want, however, is a way to get a job done, solve a problem, or gain some enjoyment. o Therefore, the tangible product itself may not be as important as the image or the benefits associated with the product. ▪ This intangible “something of value” may be capability gained from using a product or the image evoked by it, or even the brand name.

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Functions of marketing o Marketing focuses on a complex set of activities that must be performed to accomplish objectives and generate exchanges.: ▪ Buying: • Everyone who shops for products (consumers, stores, businesses, governments) decides whether and what to buy. A marketer must understand buyers’ needs and desires to determine what products to make available. ▪ Selling: • The exchange process is expedited through selling. Marketers usually view selling as a persuasive activity that is accomplished through promotion (advertising, personal selling, sales promotion, publicity, and packaging). ▪ Transporting: • Transporting is the process of moving products from the seller to the buyer. Marketers focus on transportation costs and services. ▪ Storing: • Like transporting, storing is part of the physical distribution of products and includes warehousing goods. Warehouses hold some products for lengthy periods in order to create time utility. Time utility has to do with being able to satisfy demand in a timely manner. This especially pertains to a seasonal good such as orange juice. ▪ Grading: • Grading refers to standardizing products by dividing them into subgroups and displaying and labeling them so that consumers clearly understand their nature and quality. Many products, such as meat, steel, and fruit, are graded according to a set of standards that often are established by the state or federal government. ▪ Financing: • For many products, especially large items such as automobiles, refrigerators, and new homes, the marketer arranges credit to expedite the purchase.

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Marketing Research: • Through research, marketers ascertain the need for new goods and services. By gathering information regularly, marketers can detect new trends and changes in consumer tastes. Risk Taking: • Risk is the chance of loss associated with marketing decisions. Developing a new product creates a chance of loss if consumers do not like it enough to buy it. Spending money to hire a sales force or to conduct marketing research also involves risk. The implication of risk is that most marketing decisions result in either success or failure.

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Creating value with marketing o Value: ▪ a customer’s subjective assessment of benefits relative to costs in determining the worth of a product. ▪ important element of managing long-term customer relationships and implementing the marking concept. ▪ (customer value = customer benefits − customer costs). o Customer benefits include anything a buyer receives in an exchange. o Customer costs include anything a buyer must give up to obtain the benefits the product provides. ▪ The most obvious cost is the monetary price of the product, but nonmonetary costs can be equally important in a customer’s determination of value. ▪ Two nonmonetary costs are the time and effort customers expend to find and purchase desired products. ▪ To reduce time and effort, a company can increase product availability, ▪ Another nonmonetary cost is risk, which can be reduced by offering good basic warranties for an additional charge. o In developing marketing activities, it is important to recognize that customers receive benefits based on their experiences.

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The marketing concept o the idea that an organization should try to satisfy customers’ needs through coordinated activities that also allow it to achieve its own goals. o a business must find out what consumers desire and then develop the good, service, or idea o business must then get the product to the customer. o business must continually alter, adapt, and develop products to keep pace with changing consumer needs and wants.

o Trying to determine customers’ true needs is increasingly difficult because no one fully understands what motivates people to buy things. o customer satisfaction is the goal of the marketing concept, o business must also achieve its own objectives, such as boosting productivity, reducing costs, or achieving a percentage of a specific market. o the company must strike a balance between achieving organizational objectives and satisfying customers. o To implement the marketing concept, a firm must have good information about what consumers want, adopt a consumer orientation, and coordinate its efforts throughout the entire organization; o Successfully implementing the marketing concept requires that a business view the customer’s perception of value as the ultimate measure of work performance and improving value, and the rate at which this is done, as the measure of success. o If you do not make the benefits of your product widely known, in most cases, it will not be successful. o you need to create stores to sell your product to consumers. ▪ You could also find stores that are willing to sell your product to consumers for you. o you must implement the marketing concept by making a product with satisfying benefits and making it available and visible. o A breakdown at any point in the organization—whether it be in production, purchasing, sales, distribution, or advertising—can result in lost sales, lost revenue, and dissatisfied customers.

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Evolution of marketing concept o A firm’s marketing department needs to share information about customers and their desires with the entire organization. o Our society and economic system have changed over time, and marketing has become more important as markets have become more competitive. o The Production Orientation: ▪ During the second half of the 19th century, the Industrial Revolution was well under way in the United States. New technologies, such as electricity, railroads, internal combustion engines, and massproduction techniques, made it possible to manufacture goods with ever increasing efficiency. Together with new management ideas and ways of using labor, products poured into the marketplace, where demand for manufactured goods was strong. o The Sales Orientation: ▪ By the early part of the 20th century, supply caught up with and then exceeded demand, and businesspeople began to realize they would have to “sell” products to buyers. During the first half of the 20th century, businesspeople viewed sales as the primary means of increasing profits in what has become known as a sales orientation.

Those who adopted the sales orientation perspective believed the most important marketing activities were personal selling and advertising. Today, some people still inaccurately equate marketing with a sales orientation. o The Market Orientation: ▪ By the 1950s, some businesspeople began to recognize that even efficient production and extensive promotion did not guarantee sales. These businesses, and many others since, found that they must first determine what customers want and then produce it, rather than making the products first and then trying to persuade customers that they need them. ▪ market orientation: • an approach requiring organizations to gather information about customer needs, share that information throughout the firm, and use that information to help build long-term relationships with customers. ▪ is linked to new product innovation by developing a strategic focus to explore and develop new products to serve target markets. ▪ Nonmarketing managers must communicate with marketing managers to share information important to understanding the customer. ▪ Businesses today want to satisfy customers and build meaningful longterm relationships with them. ▪ It is more efficient and less expensive for the company to retain existing customers and even increase the amount of business each customer provides the organization than to find new customers. ▪ A market orientation involves being responsive to ever-changing customer needs and wants. ▪ Although it might be easy to dismiss customer relationship management as time-consuming and expensive, this mistake could destroy a company. • Customer relationship page 341 management (CRM) is important in a market orientation because it can result in loyal and profitable customers. • Without loyal customers, businesses would not survive; therefore, achieving the full profit potential of each customer relationship should be the goal of every marketing strategy. ▪ At the most basic level, profits can be obtained through relationships by acquiring new customers, enhancing the profitability of existing customers, and extending the duration of customer relationships. ▪ The profitability of loyal customers throughout their relationship with the company (their lifetime customer value) should not be underestimated. ▪ Communication remains a major element of any strategy to develop and manage long-term customer relationships.

By providing multiple points of interactions with customers— that is, websites, telephone, fax, e-mail, and personal contact—companies can personalize customer relationships. o analyzes purchase data in an attempt to understand each customer’s interests. The ability to identify individual customers allows marketers to shift their focus from targeting groups of similar customers to increasing their share of an individual customer’s purchases. Customer relationship management systems should ensure that marketers listen to customers in order to respond to their needs and concerns and build long-term relationships. •

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Developing a Marketing Strategy o a plan of action for developing, pricing, distributing, and promoting products that meet the needs of specific customers. ▪ selecting a target market and ▪ developing an appropriate marketing mix to satisfy that target market.

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Selecting a Target Market o Market: ▪ a group of people who have a need, purchasing power, and the desire and authority to spend money on goods, services, and ideas. o target market: ▪ a specific group of consumers on whose needs and wants a company focuses its marketing efforts. ▪ can be further segmented into business markets and consumer markets. o Business-to-business marketing (B2B) : ▪ involves marketing products to customers who will use the product for resale, direct use in daily operations, or direct use in making other products. o total-market approach: ▪ an approach whereby a firm tries to appeal to everyone and assumes that all buyers have similar needs. ▪ Sellers of salt, sugar, and many agricultural products use a totalmarket approach because everyone is a potential consumer of these products. -> referred to as mass marketing. o market segmentation: ▪ a strategy whereby a firm divides the total market into groups of people who have relatively similar product needs. ▪ Companies use market segmentation to focus their efforts and resources on specific target markets so that they can develop a productive marketing strategy.

o market segment: ▪ a collection of individuals, groups, or organizations who share one or more characteristics and thus have relatively similar product needs and desires. o Market segmentation approaches ▪ concentration approach: • a market segmentation approach whereby a company develops one marketing strategy for a single market segment. • allows a firm to specialize, focusing all its efforts on the one market segment. • may be especially effective when a firm can identify and develop products for a segment ignored by other companies in the industry. ▪ multisegment approach: • a market segmentation approach whereby the marketer aims its efforts at two or more segments, developing a marketing strategy for each. • Many firms use a multisegment approach that includes different advertising messages for different segments. • develop product variations to appeal to different market segments. o Niche marketing: ▪ is a narrow market segment focus when efforts are on one small, welldefined group that has a unique, specific set of needs. ▪ are usually very small compared to the total market for the products. o concentration or multisegment approach to market segmentation, several requirements must be met: ▪ Consumers’ needs for the product must be heterogeneous. ▪ The segments must be identifiable and divisible. ▪ The total market must be divided in a way that allows estimated sales potential, cost, and profits of the segments to be compared. ▪ At least one segment must have enough profit potential to justify developing and maintaining a special marketing strategy. ▪ The firm must be able to reach the chosen market segment with a particular market strategy. o Bases of Segmenting markets ▪ Demographic: • age, sex, race, ethnicity, income, education, occupation, family size, religion, social class. These characteristics are often closely related to customers’ product needs and purchasing behavior, and they can be readily measured. ▪ Geographic:

climate, terrain, natural resources, population density, subcultural values. These influence consumer needs and product usage. Climate, for example, influences consumer purchases of clothing, automobiles, heating and air conditioning equipment, and leisure activity equipment. Psychographic: • personality characteristics, motives, lifestyles. Soft-drink marketers provide their products in several types of packaging, including two-liter bottles and cases of cans, to satisfy different lifestyles and motives. Behavioristic: • some characteristic of the consumer’s behavior toward the product. These characteristics commonly involve some aspect of product use. Benefit segmentation is also a type of behavioristic segmentation. For instance, low-fat, low-carb food products would target those who desire the benefits of a healthier diet. •

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Developing a Marketing Mix o the four marketing activities—product, price, promotion, and distribution— that the firm can control to achieve specific goals within a dynamic marketing environment. o The buyer or the target market is the central focus o Product: ▪ whether a good, a service, an idea, or some combination—is a complex mix of tangible and intangible attributes that provide satisfaction and benefits. • A good is a physical entity you can touch. • A service is the application of human and mechanical efforts to people or objects to provide intangible benefits to customers. • Ideas include concepts, philosophies, images, and issues. ▪ A product has emotional and psychological as well as physical characteristics that include everything that the buyer receives from an exchange. • includes supporting services such as installation, guarantees, product information, and promises of repair. ▪ almost every purchase or exchange involves trade-offs as consumers try to maximize their benefits and satisfaction and minimize unfavorable attributes. ▪ Products are among a firm’s most visible contacts with consumers.

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The product is an important variable—often the central focus—of the marketing mix; the other variables (price, promotion, and distribution) must be coordinated with product decisions.

o Price: ▪ a value placed on an object exchanged between a buyer and a seller. ▪ seller usually establishes the price, it may be negotiated between the buyer and the seller. ▪ buyer usually exchanges purchasing power—income, credit, wealth— for the satisfaction or utility associated with a product. ▪ It is a key element of the marketing mix because it relates directly to the generation of revenue and profits. ▪ can also be changed quickly to stimulate demand or respond to competitors’ actions. o Distribution (place): ▪ making products available to customers in the quantities desired. ▪ These activities involve transporting, warehousing, materials handling, and inventory control, as well as packaging and communication. ▪ Supply chain management (SCM) involves maintaining a flow of products through physical distribution activities. • This includes acquiring resources, inventory, and the interlinked networks that make products available to customers through purchasing, logistics, and operations. • SCM has become very important to the success of online marketers. ▪ Companies now can make their products available throughout the world without maintaining facilities in each country. o Promotion: ▪ a persuasive form of communication that attempts to expedite a marketing exchange by influencing individuals, groups, and organizations to accept goods, services, and ideas. ▪ includes advertising, personal selling, publicity, and sales promotion, ▪ aim of promotion is to communicate directly or indirectly with individuals, groups, and organizations to facilitate exchanges. ▪ use advertising and other forms of promotion, they must effectively manage their promotional resources and understand product and target-market characteristics to ensure that these promotional activities contribute to the firm’s objectives. • Most major companies have set up websites on the Internet to promote themselves and their products. • social media sites offer advertising opportunities for both large and small companies.

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Marketing Research and Information System o a systematic, objective process of getting information about potential customers to guide marketing decisions. o Before marketers can develop a marketing mix, they must collect in-depth, up-to-date information about customer needs. ▪ might include data about the age, income, ethnicity, gender, and educational level of people in the target market, their preferences for product features, their attitudes toward competitors’ products, and the frequency with which they use the product. o is vital because the marketing concept cannot be implemented without information about customers. o A marketing information system is a framework for accessing information about customers from sources both inside and outside the organization. ▪ Inside the organization,...