The

Marketing
Process
T H E S S A M A E F. O RT I Z
MARKETING PROCESS
UNDERSTAND THE MARKETPLACE DESIGNING CUSTOMER-DRIVEN
AND CUSTOMER NEEDS AND WANTS MARKETING STRATEGY

What is needed, wanted & demanded Whom to serve and their value

CONSTRUCT AN INTEGRATED MARKETING

PROGRAM THAT DELIVERS SUPERIOR VALUE
The Marketing Mix:

PRODUCT

PRICE

PLACE

PROMOTION
 A Subsidiary of CVS Health

“Help people on their path to

better health”

Sales can be increased by

improving customer
CVS Health’s overall business
engagement and raising
objective is to increase
the company’s share of the
access, lower costs, and
health-care market. These
improve the quality of care.
goals then become the
company’s current
marketing objectives.

PROFIT
SMART Approach to Marketing Objectives
When setting objectives, it is very important to ensure that they are:

✨SMART ✨
• The SMART approach allows a supervisor to effectively
manage the marketing activities and be able to determine
how successful new objectives will be.
SMART Approach to Marketing Objectives

S pecific
Are the objectives stated in a way that is precise about what you are hoping to achieve?
M easurable
Can you quantify each objective, i.e. can you use a unit of measure, such as a market share in
percentage or dollars, to provide a way to check your level of success?

A chievable
Are your objectives reasonable in terms of what you can actually achieve, or are you setting your
sights too high?

R ealistic
Do you have sufficient employees and resources to achieve the objectives you have set?
If you don't, are they likely to be unrealistic?

T ime-specific
When are you hoping to achieve these objectives? You need to define a timing plan by using target
timing for each specific objective.
ENGAGE CUSTOMERS,
BUILD PROFITABLE
RELATIONSHIPS, AND
RELATIONSHIPS
CREATE CUSTOMER
DELIGHT
CUSTOMER RELATIONSHIP
MANAGEMENT
The process of building and maintaining profitable
customer relationships by delivering superior customer
value and satisfaction. It deals with all aspects of
acquiring, keeping and growing customers.
◦ What customers will we serve?
◦ Marketers select customers that can be served profitably
VALUE PROPOSITION
The promise of value that a customer can expect a
business to deliver. It’s more than just a product or
service description — it's the specific solution that
business provides to a customer which a
competitor can’t offer.
◦ How can we serve these customers best?
PERCEIVED VALUE
Customer’s evaluation of the difference between all the
benefits and all the costs of a marketing offer relative to
those of competing offers.
In other words, it is the trade-off between the
benefits being obtained and the price being paid to
obtain those benefits.
PERCEIVED VALUE

Is Apple’s Iphones worth the higher price? Apple thinks so. It promises innovative, beautifully-
designed, highly ergonomic, and technology-leading products. Apple slogan say “Think Different”
CUSTOMER SATISFACTION
Dependent on the product’s perceived performance
relative to buyer’s expectations. Customer satisfaction
is a post-purchase phenomenon. It takes place after
the customer has purchased the product.
CUSTOMER SATISFACTION
NOT ALL CUSTOMERS ARE EQUAL

BASIC FULL SELECTIVE

RELATIONSHIPS PARTNERSHIP RELATIONSHIP
Low-margin customers Key Customers Weeding out unprofitable
customers
CUSTOMER RELATIONSHIP GROUP
CAPTURE VALUE FROM
CUSTOMERS TO
CREATE PROFITS AND
CUSTOMER EQUITY
(OUTCOME OF THE PROCESS)
 CUSTOMER LOYALTY AND RETENTION
Customer Lifetime Value. The entire stream of purchases that the
customer would make over a lifetime of patronage.

An average Netflix subscriber stays on board for 25 months. According to Netflix, the lifetime value of a Netflix customer is $291.25.
Netflix knows that customers are impatient and some customers cancel because they don’t like waiting for movies to arrive in the mail. Due
to this they’ve added a feature where you can stream movies on the web, which not only satisfies your movie urge, but it keeps you busy
while you are waiting.
CUSTOMER SHARE
It is the portion of the customer’s purchasing that a company gets in its product.
In other words, the share the company gets out of the customers’ purchasing
their offerings.
This can be achieved through offering greater variety, cross-sell and up-sell
strategies.
I,e. banks want to increase “share of wallet”. Supermarkets and restaurants want
to get more ‘share of stomach” Car companies want to increase “share of garage”
and airlines want greater “share of travel
CUSTOMER EQUITY
Customer Equity can be defined as the value of the potential
future revenue generated by a company’s customers in the
entire lifetime of the firm. In layman terms, the more loyal
a customer, the more is the customer equity.