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PRINCIPLES OF MARKETING BY PHILIP KOTLER 11TH EDITION PDF

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Well-orchestrated coverage and in-car cameras put fans in the middle of the action, giving them vicarious thrills that keep them glued to the screen. True die-hard fans can subscribe to TrackPass to get up-to-the-minute standings, race video, streaming audio from the cars, and access to a host of archived audio and video highlights. TrackPass with Pitcommand even delivers a real-time data feed, complete with the GPS locations of cars and data from drivers' dashboards.

As year-old police officer Ed Sweat puts it: "Genetics did not bless me with the height of a basketball player, nor was I born to have the bulk of a 4 Part 1 Defining Marketin,g and the Marketing Process lineman in the NFL. Yup, despite my advancing age and waistline, taking Zocor, and driving by a gym.

I could be Dale Jarrett! According to one account: "She actively seeks out any product he endorses. She drinks Pepsi instead of Coke, eats Edy's ice cream for dessert, and owns a pair of Ray-Ban sunglasses.

Is it worth the price? Office Depot certainly thinks so. It began sponsoring a car when its surveys showed that 44 percent of rival Staples' customers would switch office supply retailers if Office Depot hooked up with NASCAR.

NASCAR is a premier marketing organization that knows how to create customer value that translates into deep and lasting customer relationships.

These companies share a passion for satisfying customer needs in well-defined target markets. They motivate everyone in the organization to help b u i l d lasting customer relationships through superior customer value and satisfaction. The customer. A n d he can fire everybody in the company from the chairman o n down, simply b y spending his money somewhere else.

The twofold goal o f marketing is to attract new customers b y promising superior value and to keep and grow current customers by delivering satisfaction. Wal-Mart has become the world's largest retailer, and one o f the world's largest companies, b y delivering o n its promise, "Always l o w prices.

These and other highly successful companies know that if they take care of their customers, market share and profits will follow. Sound marketing is critical to the success of every organization.

Philip Kotler Books

But so do not-for-profit organizations such as colleges, hospitals, museums, symphony orchestras, and even churches. You already know a lot about marketing-it's all around you. You see the results of marketing in the abundance of products in your nearby shopping mall.

You see marketing in the advertisements that fill your TV screen, spice up your magazines, stuff your mailbox, or enliven your Web pages. At home, at school, where you work, and where you play, you see marketing in almost everything you do. Yet, there is much more to marketing than meets the consumer's casual eye. Behind it all is a massive network of people and activities competing for your attention and downloads.

This book will give you a complete introduction to the basic concepts and practices of today's marketing. In this chapter, we begin by defining marketing and the marketing process. Marketing The process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. IF What is marketing?

Many people think of marketing only as selling and advertising. And no wonder-every day we are bombarded with television commercials, direct-mail offers, sales calls, and Internet pitches. However, selling and advertising are only the tip of the marketing iceberg. Today, marketing must be understood not in the old sense of making a sale-"telling and sellingH-but in the new sense of satisfying customer needs.

If the marketer understands consumer needs; develops products and services that provide superior customer value; and prices, distributes, and promotes them effectively, these products will sell easily. Broadly defined, marketing is a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others. In a narrower business context, marketing involves building profitable, value-laden exchange relationships with customers.

Hence, we define marketing as the process by which companies create value for customers and build strong customer relationships in order to cap: ture value from customers in returna3 The Marketin Figure 1. In the first four steps, companies work to understand consumers, create customer value, and build strong customer relationships.

In the final step, companies reap the rewards of creating superior customer value. By creating value for consumers, they in turn capture value from consumers in the form of sales, profits, and long-term customer equity.

In this and the next chapter, we will examine the steps of this simple model of marketing. In this chapter, we will review each step but focus more on the customer relationship stepsunderstanding customers, building customer relationships, and capturing value from customers. In Chapter 2, we'll look more deeply into the second and third steps-designing marketing strategies and constructing marketing programs. A simple model of the marketing process Create value for customers and build customer relationships Understand the marketplace and customer needs and wants Capture value from customers in return Part 1 Defining Marketing and the Marketing Process As a first step, marketers need to understand customer need: and wants and the marketplace within which they operate.

We now examine five core customer and marketplace concepts: I needs, wants, and demands; 2 marketing offerings products, services, and experiences ; 3 value and satisfaction; 4 exchanges and relationships; and 5 markets. Needs States of felt deprivation.

Wants The form human needs take as shaped by culture and individual personality. Demands Human wants that are backed by downloading power. The most basic concept underlying marketing is that of human needs. Human needs are states of felt deprivation. They include basic physical needs for food, clothing, warmth, and safety; social needs for belonging and affection; and individual needs for knowledge and self-expression.

These needs were not created by marketers; they are a basic part of the human makeup. Wants are the form human needs take as they are shaped by culture and individual personality. An American needs food but wants a Big Mac, french hies, and a soft drink.

A person in Mauritius needs food but wants a mango, rice, lentils, and beans. Wants are shaped by one's society and are described in terms of objects that will satisfy needs. When backed by downloading power, wants become demands.

Given their wants and resources, people demand products with benefits that add up to the most value and satisfaction. Outstanding marketing companies go to great lengths to learn about and understand their customers' needs, wants, and demands.

They conduct consumer research and analyze mountains of customer data. Their people at all levels-including top management-stay close to customers. For example, at Southwest Airlines, all senior executives handle bags, check in passengers, and serve as flight attendants once every quarter.

Harley-Davidson's chairman regularly mounts his Harley and rides with customers to get feedback and ideas. And at Build-A-Bear, one of the country's fastest-growing retailers, founder and chief executive Maxine Clark visits two or three of her more than stores each week, meeting customers, chatting with employees, and just getting to know the preteens who download her products.

Marketing myopia The mistake of paying more attention to the specific products a company offers than to the benefits and experiences produced by. Services, and Experiences Consumers' needs and wants are fulfilled through a market offering-some combination of products, services, information, or experiences offered to a market to satisfy a need or want. Market offerings are not limited to physical products.

They also include services, activities or benefits offered for sale that are essentially intangible and do not result in the ownership of anytlung. Examples include banking, airline, hotel, tax preparation, and home repair services. More broadly, market offerings also include other entities, such as persons, places, organizations, information, and ideas.

For example, beyond promoting its banking services, LaSalle Bank runs ads asking people to donate used or old winter clothing to the Salvation Army. In this case, the "market offering" is helping to keep those who are less fortunate warm. Many sellers make the mistake of paying more attention to the specific products they offer than to the benefits and experiences produced by these products.

These sellers suffer from marketing myopia. They are so taken with their products that they focus only on existing wants and lose sight of underlying customer needs.

Philip Kotler Books

A manufacturer of quarter-inch drill bits may think that the customer needs a drill bit. But what the customer really needs is a quarter-inch hole. These sellers will have trouble if a new product comes along that serves the customer's need better or less expensively. The customer will have the same need but will want the new product.

Smart marketers look beyond the attributes of the products and services they sell. By orchestrating several services and products, they create brand experiences for consumers.

Says A. They want delightful shopping, usage, and service experiences they look forward to, time after time. Clean brand "Doesn't ask, 'How can we help to get customers' floors and toilets cleaner? It's an intensely personal user experience: "There is hardly anything that you own that is more personal.

Your personal computer is your backup brain. It's your life. It's your astonishing strategy, staggering proposal, dazzling calculation. How do they choose among these many market offerings?

Customers form expectations about the value and satisfaction that various market offerings will deliver and download accordingly. Satisfied customers download again and tell others about their good experiences.

Dissatisfied customers often switch to competitors and disparage the product to others. Marketers must be careful to set the right level of expectations. If they set expectations too low, they may satisfy those who download but fail to attract enough downloaders. If they raise expectations too high, downloaders will be disappointed. Customer value and customer satisfaction are key building blocks for developing and managing customer relationships.

We will revisit these core concepts later in the chapter. B2 Market offerings are not Limited to physical products. For example, LaSalle Bank runs ads asking people to donate used or old winter clothing to the Salvation Army. In this case, the "marketing offer" i s helping to keep those who are less fortunate warm.

Exchange The act of obtaining a desired object from someone by offering something in return. Market The set of all actual and potential downloaders of a product or service. Exchanges and Relationships Marketing occurs when people decide to satisfy needs and wants through exchange relationships. Exchange is the act of obtaining a desired object from someone by offering something in return. In the broadest sense, the marketer tries to bring about a response to some market offering.

The response may be more than simply downloading or trading products and services. A political candidate, for instance, wants votes, a church wants membership, an orchestra wants an audience, and a social action group wants idea acceptance. Marketing consists of actions taken to build and maintain desirable exchange relationships with target audiences involving a product, service, idea, or other object. Beyond simply attracting new customers and creating transactions, the goal is to retain customers and grow their business with the company.

Marketers want to build strong relationships by consistently delivering superior customer value. We will expand on the important concept of managing customer relationships later in the chapter. The concepts of exchange and relationships lead to the concept of a market. A market is the set of actual and potential downloaders of a product. These downloaders share a particular need or want that can be satisfied through exchange relationships. Marketing means managing markets to bring about profitable customer relationships.

However, creating these relationships takes work. Sellers must search for downloaders, identify their needs, design good market offerings, set prices for them, promote them, and store and deliver them. Activities such as product development, research, communication, distribution, pricing, and service are core marketing activities. Consumers do marketing when they search for the goods they need at prices they can afford.

Company downloading agents do marketing when they track down sellers and bargain for good terms. Figure 1. In the usual situation, marketing involves serving a market of final consumers i. Each party in the system adds value for the next level.

All of the arrows represent relationships that must be developed and managed. Thus, a company's success at building profitable relationships depends not only on its own actions but also on how well the entire system serves the needs of final consumers. Wal-Mart cannot fulfill its promise of low prices unless its suppliers provide merchandise at low costs. And Ford cannot deliver high quality to car downloaders unless its dealers provide outstanding sales and service. Marketing management The art and science of choosing target markets and building profitable relationships with them.

Once it fully understands consumers and the marketplace, marketing management can design a customer-driven marketing strategy. We define marketing management as the art and science of choosing target markets and building profitable relationships with them.

The marketing manager's aim is to find, attract, keep, and grow target customers by creating, delivering, and communicating superior customer value. To design a winning marketing strategy, the marketing manager must answer two important questions: What customers will we serve [what's our target market]?

We will discuss these marketing strategy concepts briefly here, and then look at them in more detail in the next chapter. The company must first decide who it will serve.

It does this by dividing the market into segments of customers market segmentation and selecting which segments it will go after target marketing.

Some people think of marketing management as finding as many customers as possible and increasing demand. Fri, 31 Aug GMT principles of marketing by pdf -. Schultz University of Iowa. This paper clarifies the.

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Kotler Custom Edition for. Sat, 01 Sep GMT principles of marketing philip pdf -. Principles of Marketing. The 12th edition. Scientific method Effective marketing research uses the principles of the scientific method: You will edition, principles of marketing by philip kotler 11th edition, principles of marketing 12th edition.

Fri, 02 Nov GMT principles of marketing philip pdf -.Identifying and Responding to the Major Macroenvironment Forces Identifying and Responding to the Major Macroenvironment Forces: 1- The increasing tendency of multinationals to transcend their locational and national characteristics and become transnational firms. Companies can improve logistics and operations for cost savings while improving accuracy and service quality.

About , people attended the recent Daytona , far more than attended the Super Bowl, and the Allstate Brickyard sells out its more than , seats each year.

Martin Professor of. An access code is available only when shrink-wrapped with a Prentice Hall text, so be sure and specify the appropriate package with your local bookstore in advance.

I hereby state that I consent to the jurisdiction of the Federal District Court for the judicial district in which my address is located or, if my address is outside of the United States, for any judicial district in which we may be found, and I will accept service of process from the complaining party who notified us of the alleged infringement or an agent of such person. Intermediate Accounting, Eleventh, consists of five parts containing 23 chap-.