PGP 1 Participants
Indian Institute of Management Indore
The process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.
What is Marketing?
Marketing is the delivery of customer satisfaction at a profit.
Marketing (management) is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals.
“Marketing is the process of creating an environment to sell”
A marketer can rarely satisfy everyone ...view middle of the document...
Marketing Mix Strategy – 4Ps
• Product • Price • Place
Customer Solution Goods-and-service combination that a
company offers a target market
Customer Cost Amount of money that consumers
have to pay to obtain the product
Convenience Company activities that make the
Communication Activities that persuade target customers to buy the product
If you were to launch a health drink, how would you define 4Ps?
How different is customer value than customer satisfaction?
Value gained from owning a product less the costs. Improve benefits or reduce costs for improving Value.
Perceived performance in providing value, relative to expectations. Satisfaction has no bearing on the costs, unless reduced costs reduce expectations.
Does customer value leads to customer satisfaction? Always?
Marketing Management Demand Management Profitable Customer Relationships
programs to create
exchanges with target buyers to...