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Week 2

by: Petey Martin

Week 2 MKT 203

Petey Martin
GPA 3.25

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About this Document

Week 2 of Notes for MKT 203 - Principles of Marketing.
Class Notes
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This 3 page Class Notes was uploaded by Petey Martin on Monday September 28, 2015. The Class Notes belongs to MKT 203 at University of Rochester taught by HOPE V in Summer 2015. Since its upload, it has received 12 views. For similar materials see PRINCIPLES OF MARKETING in Marketing at University of Rochester.


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Date Created: 09/28/15
Petey Martin 0 The 4 P s 1900 1900 1950 1950 2000 2000 Notes 9815 Marketing s Evolution Velocity of Change BC Place BC Trade Product Price Modern Manufacturing Promo Sales Push Mass Media Layered distribution People concentrated in urban areas Automobiles expanding markets Advertising with mass media to push messages to larger markets Marketing became professional discipline Customer satisfaction became of great importance People 0 Era Production Sales Marketing Knowledge Corporate View De nition of Marketing Itself Peter Drucker o In uential foresighted business advisor o The aim of marketing is to make selling super uous Kotler o Targeting markets keeping and growing customers Hope 0 Management of demand Marketing s Role amp Objectives Customer Needs Whole Business Integrated Effort Long Term Customer relations Market competition Business objectives 0 View Internal External Integrated 0 Change Resistance Hnance Drives the strategy Senior Management 0 Incentives differing from your department 0 Personal style Sales 0 Push Individual sales maximize bonuses Personal incentive Customers 0 Information push o Legislativeinterference Labor movement reasonable life for middle class 0 Era Production Sales Marketing Knowledge Succeed Different Corporate Cultures Production 0 Mass production eg Intel computer chips Product 0 Features 0 Effectiveness 0 Microsoft Feature driven Sales 0 Kick demand 0 CocaCola Massive pushing Marketing 0 Sell bene ts 0 Jet Blue Selling value quotLearning Organizationquot 0 Ritz Carlton Employees trained as actors 0 Use of information Petey Martin Notes 91015 CRM 0 A Simple CRM Model 0 Foundations of CRM 1970 s Segmentation 0 Product drive for market share at different markets CRM requires New View of the Business Swivel the Cube 0 One Whole Customer at a time Acquire Customers o Grow 0 Retain Time Touchpoint Management Tech Integrated strategy and process to acquire grow amp retain customers Everywhere the customer touches you 0 Channels outlets media products Where customers create perceptions Where you create VALUE 0 CRM Success Measuring Value 0 GrowthRetention Curve De nes Each Customer s History Lifetime Value of Each Customer Total Value over time LTV The Area Under the Curve 0 Maximizing quotLifetime Valuequot Finding amp Serving the Right Customers Customer Knowledge Management 0 Data Information Knowledge Insight Velocity of Change 0 Illusion of Intimacy o Technological boundaries 0 Ear to the ground eye to the wallet 0 O


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