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Chapter 11

ADM1100 Chapter 11: Chapter 11

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University of Ottawa
Patrick Woodcock

Chapter 11: Customer Driven Marketing Marketing is an organizational function and set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders Discover unmet customer needs; research potential markets; produce a goodservice capable of satisfying targeted customers; promote, price and distribute goodservice Successful organizations focus on building customer relationships throughout the process Best marketers give consumers what they want and anticipate consumers needs before they surface Exchange process: an activity in which two or more parties trade something of value (such as goods, service or cash) that satisfied each others needs. Utility is the power of a good or service to satisfy a want or need Create time utility by making a good or service available when customers want to purchase it Create place utility by making a product available in a location convenient for customers Create ownership utility through an organized transfer of goods and services from the seller to the buyer Production function creates firm utility by converting raw materials, component parts and other inputs into finished goods and services. Today, there is more focus on relationships (customer satisfaction and building longterm business relationships) and marketing rather than simply sales and production. Marketing concept: companywide consumer focus on promoting longterm success Firm starts with analysis of customers needs and works backward to offer products that fulfill them Marketplace success begins with the customer strong competition to satisfy customers. Organizations must focus on longterm value of customers and their needs. Notforprofit and nontraditional marketing 20 million notforprofits worldwide Apply marketing tools to reach audiences, secure funding and accomplish overall mission Operate in public and private sectors Sometimes partner with profitseeking company to promote a message Compete for dollars (funding) and people (donors or volunteers) Nontraditional marketing Cause marketing: promotes awareness of a cause or social issue or raises money for a cause or social issue such as drug abuse prevention or childhood hunger Place marketing: attract people to a particular area (city, region or country) Event marketing: marketing or sponsoring shortterm events such as athletic competitions and cultural and charitable performances
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