TA: Ng Ngọc Anh Thư

CHAP 1: CREATING & CAPTURING CUSTOMER VALUE

I. What is marketing?
1. Definition
Process that company create values for customers, build strong customer
relationships to capture value in return (sales, market share, brand love, etc.)
2. Mkt process

S1: Understand maketplace and customers

CORE MKT CONCEPTS
- Needs, wants and demands
• needs: basic human requirement
• wants: specific objects shaped by culture and individual personality
• demands: wants backed by buying power
Ex: nhu cầu uống nước để sống (need) > nước trắng/ trà/ coffee.. (want) > Starbucks,
Highland (demand)
- Market offerings: combination of products, services, or experiences offered to
market to satisfy need/want
- Mkt myopia: the mistake of paying more attention to the specific products a
company offers than to the benefits and experiences produced by these products
Ex: quán ăn chỉ tập trung bán món ăn, bỏ qua nhu cầu ăn uống nhưng vẫn phải đảm
bảo an toàn thực phẩm...
- Exchange: the act of obtaining a desired object from s/o by offering s/t in return
- Transaction: trade between two parties that involves at least two things of value
- Markets: set of actual and potential buyers of a product or service
TA: Ng Ngọc Anh Thư

S2: STDP (segmentation – targeting – differetiation – positioning) / customer value-

driven mkt strategies
- Segmentation: divide a market into distinct groups
- Targeting: select one or more segments to serve
➔ Select customer to serve

- Differatiation: differentiate the market offering to create superior customer value.

- Positioning: occupy a distinctive place in the TA minds
➔ How to serve them best (value proposition)
VALUE PROPOSITION - A set of benefits or values company promises to deliver to
consumers to satisfy their needs.
Production concept Keyword: available, highly affordable
Ex: usually FMCG: dầu gội, sữa tắm, kem đánh răng…
Product concept Keyword: most quality, performance and features (tập
trung cải thiện sp)
Ex: Liên Quân mobile
Selling concept K/hàng sẽ ko mua product if companies do not make large
scale selling and promotion effort (inside out)
Ex: insurance (unsought products)
Mkt concept Know customers’ needs and wants > deliver products
brought desired satisfaction (outside in)
Ex: Milo can
Societal concept Consider long-term interest company’s requirement,
society’s long run interests (CSR)
Ex: Dove (Dove self-esteem project)

S3: 4P’s (product – price – place – promotion) / Preparing IMC plan and program
MKT MIX: set of tools (4P’s) the firm uses to implement its marketing strategy.
• Product: what product will biz sell? physical or intangible? features or benefits
that come with (encompasses the packaging, branding, and labeling of the
product)
• Price: the correct price customers willing to pay, suitable w/ production cost?
Based on input (material, time, effort) + demand, competition
• Place: where will customers buy ur product? (kênh phân phối)
• Promotion: ways customers know and believe ur products can solve their prob
TA: Ng Ngọc Anh Thư

➔ Integrated marketing program: comprehensive plan that communicates and

delivers the intended value to chosen customers
If included:
Customer relationship management (CRM): the overall process of building and
maintaining profitable customer relationships by delivering superior customer value and
satisfaction
• Customer-perceived value: customer’s evaluation of the difference between all
the benefits and all the costs (k/hàng sẽ mua sp từ cty offer highest value – value
do customers perceive)
• Customer satisfaction: the extent to which a product’s perceived performance
matches a buyer’s expectations (nếu performance của sp thấp hơn expectations
của customer, họ sẽ thất vọng và ngc lại)
Customer relationship level:
• Basic Relationships: a company with many low-margin customers (P&G, Unilever
> not call to each customer)
• Full Partnerships: markets with few customers and high margins (P&G sales
representatives work closely with Walmart)

S4: Implement and get values back from customers