MAR 3023 Lecture Notes - Lecture 1: Marketing Strategy, Corporate Social Responsibility, Customer Satisfaction

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9 Jun 2016
Marketing Management
Chapter 1
Slide 1:
Customer value: what is an example of a product category in which price is the only
issue of value for customer? Water: size, brand, origin, location
Value is a subjective assessment. Value = customer benefits – customer costs
Slide 2:
What does the value depends on?
Is value the lowest price?
What dos titters value?
Does value differ by consumer?
By product category?
By situation?
Most successful companies have made their delivering value a competitive advantage in their
Walmart, Kmart, and target opened their first store in 1962. In 1990 Walmart became the
nations largest retailer.
Some shoppers are willing to give up a better experience for low prices.
Norte Photoblocker won lion at Cannes, buenos Aires
History of marketing: Henry ford is one of the key players with the assembly line.
Better mousetrap theory “if we make it, they will come”(production orientation)
Sales orientation: hard sell (telemarketers, excess of supply over demand)
Marketing concept
Customer satisfaction
Total company effort
Measure of success in most of the times is profit
Marketing strategy
Target marketing
Marketing mix to meet needs of the market
3t’s technology, travel, training
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