1. Customer Profitability Focused Marketing
1.1. Tier1:Platinum Customers
1.1.1. Upper tier who spends top dollar
1.1.2. buy a lot of goods & services
1.2. Tier 2: Gold
1.2.1. visit your store or website as often as platinum customers,
1.2.2. around 21st to 50th percentile in profitability
1.3. Tier 3: Iron
1.3.1. more price sensitive than gold customers,
1.3.2. around 51st to 80th percentile
1.4. Tier 4: Lead customers
1.4.1. A primary reason to understand and evaluate the customer pyramid
1.4.2. around 81st to 100th percentile
2. Definition
2.1. Buyers decision or behaviour that consumer display in searching for purchasing, using, evaluating, and disposing of products and services that they expect will satisfy their needs.
3. Development of the Marketing Concept
3.1. The Production Concept
3.1.1. Assumes that consumer are interested primarily in product availability at low prices
3.1.2. Marketing objective
3.1.2.1. Cheap, efficient product
3.1.2.2. Intensive distribution
3.1.2.3. Market expansion
3.2. The Product Concept
3.2.1. Assumes that consumers will buy the product that offers them the highest quality, the best performance, and the most features
3.2.2. Marketing Objectives
3.2.2.1. Quality improvement
3.2.2.2. Addition of features
3.2.3. Tendency toward Marketing Myopia
3.3. The Selling Concept
3.3.1. Assumes that consumers are unlikely to by a product unless they are aggressively persuaded to do so.
3.3.2. Marketing Objectives
3.3.2.1. SELL
3.3.2.2. SELL
3.3.3. Lack of concern for customer needs and satisfaction
3.4. The Marketing Concept
3.4.1. Assumes that to be successful, a company must determine the needs and wants of specific target markets and deliver the desired satisfactions better than the competition.
3.4.2. Marketing Objectives
3.4.2.1. Profits through customer satisfaction
3.4.3. A consumer-oriented philosophy that suggest satisfaction of consumer for product development and marketing strategy to enable meet its own organizational goals.
3.4.4. Implementing the marketing concept
3.4.4.1. Consumer Research
3.4.4.1.1. -Process &Tools used to study consumer behaviour
3.4.4.1.2. Perspective
3.4.4.2. Segmentation
3.4.4.2.1. process of dividing the market into subsets of consumers with common needs of characteristic
3.4.4.3. Targeting
3.4.4.3.1. process of dividing the market into subsets of consumers with common needs of characteristic
3.4.4.4. Positioning
3.4.4.4.1. developing a distinct image for the product in the mind of the image consumer
3.5. Societal Marketing Concept
3.5.1. traditional marketing concept
3.5.2. company prosper when society prospers
3.5.3. require all marketers to adhere social responsibility