The Changing Managing Customer Relationships
Marketing Landscape and Capturing Customer Value
MARKETING Digital and social media marketing involves using
digital marketing tools such as web sites, social
•attract new customers by promising media, mobile ads and apps, online videos, e-mail, and Customer relationship management—the overall process of
superior value blogs that engage consumers anywhere, at any time, building and maintaining profitable customer relationships
via their digital devices. by delivering superior customer value and satisfaction.
•grow current customers by Not-for-profit marketing growth Customer-Engagement Marketing
delivering satisfaction Rapid globalization fosters direct and continuous customer involvement in shaping
Sustainable marketing brand conversations, experiences, and community
UNDERSTANDING THE Managing Customer Relationships
MARKERTPLACE AND and Capturing Customer Value
CUSTOMER NEEDS Consumer-Generated Marketing : Brand exchanges created by consumers
themselves
Partner relationship management involves working closely with partners in
Needs are states of felt deprivation. other company departments and outside the company to jointly bring
Wants are the form human needs take as
they are shaped by culture and individual
personality.
CHAPTER greater value to customers.
Customer lifetime value is the value of the entire stream of purchases
that the customer would make over a lifetime of patronage.
Demands are human wants that are
backed by buying power
1 Share of customer is the portion of the customer’s purchasing that a
company gets in its product categories.
Customer equity is the total combined customer lifetime values of all of
the company’s customers.
UNDERSTANDING THE
Designing a Customer Value-
MARKERTPLACE AND
Driven Marketing Strategy
CUSTOMER NEEDS Designing a Customer Value-
Production concept: Consumers will favor products that are
A market is the set of actual and Driven Marketing Strategy available and highly affordable.
Product concept: Consumers favor products that offer the most
potential buyers of a product or Marketing management is the art and science quality, performance, and features.
service. These buyers share a of choosing target marketsand building Selling concept: Consumers will not buy enough of the firm’s
particular need or want that can be profitable relationships with them. products unless the firm undertakes a large-scale selling and
satisfied through exchange A brand’s value proposition is the set of promotion effort.
benefits or values it promises to deliver to Marketing concept: Know the needs and wants of the target
relationships. markets and deliver the desired satisfactions better than
customers to satisfy their needs.
competitors.
Societal marketing: The company’s marketing decisions should
consider consumers’ wants, the company’s requirements, consumers’
long-run interests, and society’s long-run interests.
