Introduction to Marketing Process

Topic 1 Introduction: Defining Marketing and the Marketing Process

• Marketing is the process by which companies engage customers, build strong relationships, and create value to capture value from customers in return.
• The marketing process is a five-step process, starting with understanding the marketplace and customer needs and wants.
• The process also includes designing a customer value-driven marketing strategy.
• Constructing an integrated marketing program that delivers superior value is next.
• Engaging customers, building relationships, and creating customer delight are crucial to the success of the process.
• The process concludes with capturing value from customers to create profits and customer equity.

Introduction

• Aisulu Issayeva is a senior lecturer with a master's in marketing.
• Her teaching philosophy emphasizes the importance of education serving society and recognizing each student as a unique individual with a tailored approach.
• The goal is to create an environment where students can realize their academic and personal potential.

Introduction: Syllabus and Questions

• Students are expected to briefly introduce themselves and their interests.
• Students will be asked to share their preferred learning styles and methods.

Introduction: Learning Methods

• Case studies, focusing on real-world marketing scenarios.
• Group projects.
• Workshops, focusing on particular skills.
• Written assignments and quizzes.

Topic 1 Objectives

• Define marketing and outline the marketing process.
• Explain the importance of the marketplace and customers.
• Identify the key elements of a customer value-driven marketing strategy.

Marketing in Action

• Discussion prompts on memorable air travel experiences.

Emirates' Customer Value-Driven Marketing

• Discuss Emirates' service offerings to customers.
• Examine how Emirates has leveraged its Dubai location to create a unique value proposition.
• Analyze the role of the Skywards loyalty program in building customer relationships.
• Assess Emirates' premium services, such as Dubai Connect and Chauffeur Drive, in relation to premium pricing.
• Evaluate Emirates' digital and social media marketing strategies to deepen customer engagement.

What is Marketing?

• Marketing is the process businesses use to engage with customers, build strong relationships, and generate customer value.

The Marketing Process

• Understanding the marketplace and customer wants and needs.
• Creating value for customers and building relationships.
• Designing a customer value-driven marketing strategy.
• Constructing an integrated marketing program that delivers superior value.
• Engaging customers, building profitable relationships, and creating customer delight.
• Capturing value from customers to create profits and customer equity..

Understanding the Marketplace and Customer Needs

• Needs: States of felt deprivation (e.g., food, safety)
• Wants: Desires shaped by culture and individuality.
• Demands: Wants backed by buying power.
• Consumer needs and demands are fulfilled by market offerings (products, services, experiences).

Market Offerings

• Products, services, experiences, emotions, information, places, and ideas.

Advanced Market Offerings

• Customers form expectations regarding value and satisfaction from market offerings.
• Satisfied customers buy again and recommend the product.
• Dissatisfied customers switch to competitors and negative feedback.

Customer-Driven Marketing Strategy

• Identify target customers.
• Determine a value proposition.

Company Orientations

• Marketing Concept: Emphasizes better understanding, creating, delivering, and communicating value to target customers.
  • Product Concept: Focuses on creating the best or most innovative product for the lowest price.
  • Sales Concept: Relies on a strong sales team and incentives.
  • Production Concept: Emphasizes mass distribution and low production costs.
  • Societal Marketing Concept: Focuses on delivering value to all stakeholders (consumer and society) to improve well-being.

Managing Customer Relationships and Capturing Customer Value

• Customer satisfaction: How well perceived performance meets expectations.
• Customer perceived value: The difference between benefits and costs of an offering relative to competitors.

Customer Relationship

• Companies build customer relationships at various levels, depending on the target market.
• Frequency marketing programs are common tools.

Customer Relationship: Customer Brand Advocacy

• Actions by which satisfied customers initiate positive interactions with others about a brand.

Customer Relationship: Customer Loyalty

• Marketing concept that encourages repeat purchases.
• Loyal customers often spend more and stay longer.
• Keeping old customers is often more cost-effective than acquiring new ones.
• Customer lifetime value: The overall value of a customer's purchases over the course of their relationship.

Relationship Stages

• Meeting and getting acquainted (understanding target customers and their needs).
• Providing a satisfying experience (measuring and improving satisfaction, understanding evolving customer needs).
• Sustaining a committed relationship (converting customers to loyal repeat customers, deepening relationships).

In-class Assignment

• Discuss five examples of observed marketing.
• Analyze the product, location, and impact of the marketing.

Conclusion

• Successful companies (large/small, profit/not-for-profit) share a customer focus.
• Marketing is crucial for engaging and managing profitable customer relationships.