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pter 1 0 Objectives ? Be able to define marketing and discuss its core concepts. ? Be able to define marketing management and pare the five marketing management orientations. 1 Objectives ? Understand customer relationship management and strategies. ? Realize the major challenges facing marketers in the new “connected” millennium. 2 ? Strong sales, no profits ? Customerdriven to its core ? Each customer’s experience is unique ? Provides great selection, good value, discovery and convenience ? A true online munity Discussion: Will Survive? Case Study 3 What is Marketing? ? Marketing is managing profitable customer relationships ? Attracting new customers ? Retaining and growing current customers ? “Marketing” is NOT synonymous with “sales” or “advertising” 4 What is Marketing? ? Kotler’s social definition: “Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.” 5 ? Goods ? Services ? Experiences ? Events ? Persons ? Places ? Properties ? Organizations ? Information ? Ideas Many Things Can Be Marketed! What is Marketing? 6 ? Needs, wants, and demands ? Marketing offers: including products, services and experiences ? Value and satisfaction ? Exchange, transactions