Principles Of Marketing By Philip Kotler Ppt Chapter 1 ~upd~ | Limited Time |

All the core concepts come together in a simple five-step model of the marketing process. This process is the central framework of Chapter 1 and is often visualized as a circular diagram in the PowerPoint slides, showing how value is created for customers and captured in return.

Marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return.

What is the for this presentation? (e.g., undergraduate students, corporate training, self-study) principles of marketing by philip kotler ppt chapter 1

Customers face a constant stream of choices. They buy from the firm that offers the highest customer perceived value —the difference between total benefits and total costs. depends on how a product’s perceived performance compares to a buyer’s expectations.

Kotler introduces a simple model of the marketing process. The first four steps focus on , while the final step focuses on capturing value from them . All the core concepts come together in a

from customers to create profits and customer equity. 2. Understanding the Marketplace and Customer Needs

Beyond retaining good customers to capture customer lifetime value, firms want to increase their share of customer—the share they get of the customer’s purchasing in their product categories. To increase share of customer, firms can offer greater variety to current customers, or cross-sell and up-sell products. Customer Equity What is the for this presentation

The Reality: The customer actually wants a 1/4-inch hole in the wall to hang a picture framework.

Step 4: Engage Customers, Build Relationships, and Create Delight

Customers form expectations about the value and satisfaction that various market offerings will deliver.