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Customer Relationship Management (Subject) / What is CB? (Lesson)

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• Evolution of Marketing Production Concept Product Concept Selling Concept Marketing Concept
• Evolution of Marketing: Production Concept - product availability at low prices - marketing objectives: cheap, intensive distribution, market expansion - lower quality
• Evolution of Marketing: Product Concept - highest quality, best performance - marketing objectives: quality imporivement - higher prices
• Evolution of Marketing: Selling Concept - consumers are persuaded to buy a product - marketing objectives: sell, sell, sell - lack of concern for customer needs
• Evolution of Marketing: Marketing Concept - company must determine needs of target markets - marketing objectives: focus on buyer's needs - retain customers
• Consumer Behavior the set of value seeking activities that take place as people go about adressing realized needs
• Customer Behavior Influences - pre purchase - during purchase - post purchase  
• Customer Behavior mental process - thinking - feeling - acting
• CB is related to the fields of ... economics anthropology psychology social pyschology marketing
• Types of Buyers - Personal Consumer - Organizational Consumers
• Advertisement
• Consumer Research - Interpretative / Qualitative Research - Ethnography - Quantitative Research (statistics)
• Consumer Research: Interpretative / Qualitative Research - observe and interpret - unstructured, free-form - researcher is involved - results are subjective - small samples
• Consumer Research: Ethnography - look at consumers life - observation
• Consumer Research: Quantitative Research - test hypothesis - structured response, categories provided - researcher uninvolved - results are objective - large samples - descriptive
• Consumer Analysis 1. Who buys? 2. What is bought? 3. Why is the purchase made? 4. How often is the purchase made? 5. Where is the purchase made? 6. When is the purchase made? 7. How is the purchase made?
• Consumer Value = What you get - What you give   What you get :  benefits such as quality, convenience, emotions What you give: sacrifice such as time, money, effort
• Types of Value - Utilitarian: Helps to solve a problem - Hedonic: satisfaction from the experience
• Low Utilitarian Value + Low Hedonic Value Bad Postioning - slow "fast" food
• High Utilitarian Value + Low Hedonic Value Okay Positioning   - fast, "fast" food
• Low Utilitarian Value + High Hedonic Value Okay Positioning   - restaurant with nice atmosphere but poor food
• High Utilitarian Value + High Hedonic Value Superior Positioning   - restaurant with great atmosphere and great food
• Consumer Segmentation = process of dividing market into subsets of consumers with common needs or characteristics
• Major Variables in Market Segmentation 1. Mass Marketing 2. Segment Marketing 3. Niche Marketing 4. Micro Marketing
• Targeting = selection of one or more of the segments to pursue
• Positioning = developing a distinct image for the product in the mind of the consumer
• Product Differenciation marketers try to position their product as being unique in the minds of the consumer Stand out in the crowd!
• Targeting Marketing - Placing products in the mind of the consumer - various techniques such as perceptual mapping or positioning mapping
• Customer Lifetime Value    Potential Value of Sales -  Cost of Sales +  Goodwill (referrals)   = Customer Lifetime Value
• Trends in Marketing/CB - Internationalization - Cultural Changes - Technological Changes - Changing Demographics - Economic Changes

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