MARKETING

Chapter 1: INTRODUCTION OF MKT PRINCIPLES

+1 điểm pb
Jargon:
- Marketing
- Customer wants/needs/demands
- Customer value
- Marketing offering
- Marketing myopia
- Brand experience
- Customer relationship
- Marketing management
- Customer-driven marketing strategy:
+ Selecting Customers to Serve: market segmentation/ target marketing
- Production concept
- Product concept
- Marketing concept
- Societal marketing concept
- Marketing mix

Marketing definition: The process by which companies engage customers, build strong
customer relationships, and create customer value in order to capture value from
customers/profit in return.
Core concept:
- Needs: State of felt deprivation
- Wants: The form human needs take as they are shaped by culture and individual personality
(almost unlimited)
- Demands: Human wants that are backed up by buying power (How many products can we
sell/ capacity)
 Knowing the difference between these terms can help to segment the market into
different customer group

- Market offerings: combination of products, services, information, experiences offered

- Customer value: what customers perceived after using product

- Customer expectation: the one they expect before using product

 Expectation < Value: Satisfaction

- Exchange: the way you give someone a thing and take something back
- Markets: set of actual and potential buyers or a product or service
 - Marketing Management: the art and science of choosing target maskets and building
profitable retionships with them
 What customer will we serve?
 How can we best serve these customers?

5 MARKETING CONCEPTS
1. Production concept:
- Efficient in production
- Low cost
- Large scale
 When mass market is your target market; so that you can upscale the production, lower the
cost and set lower price
2. Product concept:
- Features
- Quality
- Variety (production only focuses on core product)
 When ; so you should focus on R&D as your competitive advantage
3. Selling concept:
- Create the demands
- Focus on the needs of the seller -> convert product into profit
4. Marketing concept:
5. Societal marketing concept:
+ 2d phát biểu:
- 5 marketing concept question
- Present societal marketing
-
CUSTOMER DRIVEN MARKETING STRATEGY:
Definition: focus on customer value and create profitable relationships
Process: Segmentation – Targeting – Positioning (Differentation)
+ Segmentation: segment the market into different groups; each group has the same
characteristics
+ Targeting: How to choose target market?
+ Positioning – Differentation: How do we differentiate us from other competitors? -> Value
proposition (a concise statement that communicates the unique benefits and value a product or
service offers to its target customers)
- Marketing mix: The set of tools: 4Ps (Product – Price – Place – Promotion)

STRATEGIES:
More for More -> more benefits and higher price
More for the same -> more benefits and same price
More for less -> more benefits and lower price
Same for less -> same benefit lower price
Less for much less -> less benefits, lower price
CASE STUDY FOR BUDGET HOTEL
Industry: Budget hotel
Situation: Stagnation & Overcapacity
Competitors:
1. No star/ 1 star (20 per night)
2. 2 star (40 per night)
Customer needs:
- Good sleep
- Low price
Innovation:
1. What to eliminate: Restaurant & lounge (no connection to customer needs)
2. What should be reduce: Receptionist & furniture (vicariously connected to customer needs but
no direct impact)
3. What should be raised above competitors: bed quality, room quietness,
CHAPTER 3: MARKETING ENVIRONMENT
- Internal environment
- Micro environment:
 Value chain/benchmarking
 SWOT
 Porter’s 5 Forces
 BCG matrix
 Customer life time value
 VRIO analysis: Value – Rarity – Imitability - Organization
- Macro environment:
SO SÁNH VALUE CHAIN – DÙNG BENCHMARKING: ĐỒ THỊ
- Point of parity:
+ What should be eliminated
+ What should be reduced
+ What should be enhanced
+ What should be the best
PRESENTATION: 10p – Q&A 5p

CHAPTER 4: MARKET RESEARCH

1. Source of data:
- Big data
- Marketing information system (MIS): contain information about customers (like birthdays…),
the system should be designed to collect data and customize product/service catered to
customers’ preferences
2. Types of data
- Secondary data
- Primary data: observation, survey, experiment, interview
3. Process:
Step1: Define problems – objectives/questions -> xdinh research method: quantitative &
quantitative
Step2: Research plan to collect info
Step3: Collecting data
Step4: Analyzing data
Step5: Interpreting & report the data
(Step6: Decision making)