[00:02.38]objective n. a.
[00:10.11]secure a. vt.
[00:11.23]A:We need to define a new strategy but this strategy must be flexible enough to take into account changing market conditions.
[00:22.96]B:I agree.Our main objective must be gaining market share,and to do this we must reduce prices.
[00:31.87]A:So are you sure that if we reduce prices,our market share will increase?
[00:38.32]C:That's probably true,but if we reduce prices,our margins will be lower and that will cut profits.
[00:46.39]B:In the short term that's right,but we can slowly increase production,
[00:52.01]and with increased production,we'll cut unit costs.
[00:55.95]C:That's really a long_term prospect.
[00:58.12]Unit costs can only come down if we invest in new plant and machinery.
[01:02.72]A:Let's stop there a minute and try to define our strategy in two directions firstly the market and secondly manufacturing.
[01:11.55]Do we agree that increased market share is the objective?
[01:15.94]C:No,I don't agree.I think we should go for higher profitability.
[01:20.01]If we can upgrade the product,we'll get better prices and therefore high profits.
[01:25.45]B:Look,the market is already very competitive and getting more.
[01:30.17]So if we increase prices,whatever the quality,sales will drop rapidly.
[01:35.92]A:Right,let's look at it from the other point of view manufacturing.
[01:39.92]C:Well,if we can reduce costs in manufacturing,that must put us in a strong position to adapt to the market.
[01:49.82]The only way me can be flexible enough is to sub_contract more of the production.
[01:55.72]B:But it'll mean job losses if we do that.
[01:58.15]C:Yes,but the jobs that remain will be more secure.
[02:18.95]Marketing must be understood in the sense of satisfying customer needs.
[02:24.67]Selling is not marketing.
[02:27.33]Selling and advertising are only part of a larger marketing mix.
[02:33.10]The aim of marketing is to make selling superfluous.
[02:37.88]The aim is to know and understand the customer so well that the product or service fits and sells itself.
[02:47.16]Understanding customers'needs,wants,and demands in detail provide important input for designing marketing strategies.
[02:57.32]The importance of products lies in the benefit they provide.
[03:02.15]The term product covers physical goods,services,and a variety of other vehicles that can be wanted.
[03:11.24]Consumers make buying choice based on their perceptions of the value that various products and services deliver.
[03:20.31]Consumers often do not judge product values and costs accurately or objectively.
[03:26.29]They act on perceived value.
[03:29.03]Customer satisfaction is closely linked to quality.
[03:33.76]American Society for Quality Control defines quality
[03:38.25]as the totality of features and characteristics of a product or services that bear on its ability to satisfy customer needs.
[03:48.86]Quality begins with customer needs and ends with customer satisfaction.
[03:54.27]Beyond creating short_term transactions,marketers need to build long_term relationships with valued customers,a distributor,dealers,and suppliers.
[04:07.35]The operating assumption of relationship marketing is:
[04:11.35]build good relationship and profitable transactions will follow.
[04:16.68]To marketers,market is the set of actual and potential buyers of a product.
[04:22.77]Marketing means managing markets to bring about exchanges for the purpose of satisfying human needs and wants.
[04:31.70]Activities such as product developments,research,communication,distribution,pricing and service are core marketing activities.
[04:43.45]We define marketing management as the analysis,planning,implementation,and control of programs designed to create,build，
[04:54.48]and maintain beneficial exchanges with targeted buyers for the purpose of achieving organizational objectives.
[05:03.93]At any point in time,there may be no demand,inadequate demand,irregular demand,or too much demand,
[05:13.29]and marketing management is concerned not only with finding and increasing demand,
[05:19.90]Beyond designing strategies to attract new customer and create transactions with them,
[05:25.90]companies now are going all out to retain current customers and build lasting customer relationships.
[05:33.30]Companies are also realizing that losing a customer means more than losing a single sale it means losing the entire revenue stream of purchases that the customer would make over a life_time of patronage.
[05:47.09]The key to customer retention is superior customer value and satisfaction.
[05:53.04]The key to customer retention is superior customer value and satisfaction.
[06:01.61]Production concept is one of the oldest marketing philosophies.
[06:06.03]By this concept,marketing management should focus on improving production and distribution efficiency.
[06:14.33]The production concept is still a useful philosophy in two types of situations.
[06:19.77]The first occurs when the demand for a product exceeds the supply;
[06:24.97]the second occurs when the product's cost is too high and improved productivity is needed to bring it down.
[06:34.00]The product concept holds that consumers will favor products that offer the most quality,performance,and innovative features.
[06:43.75]The product concept also can lead to marketing myopia.
[06:48.27]The product concept also can lead to marketing myopia.
[06:54.48]The selling concept,which holds that consumers will not buy enough of organization's products unless it undertakes a largescale selling and promotion effort.
[07:07.21]By selling concept,the firms'aim is to sell what they make rather than make what the markets want.
[07:16.17]The marketing concept holds that achieving organizational goals depends on determining the needs and wants of targeted markets
[07:26.28]and delivering the desired satisfactions more effectively than competitors do.
[07:32.15]The selling concept starts with the factory,focuses on the company's existing product.
[07:38.79]The marketing concept starts with a well_defined market,focuses on customer needs.
[07:45.11]Marketers must balance creating more value for customers against making profits for the company.
[07:52.08]The societal marketing concept holds that the organization should determine the needs,wants,and interest of targeted markets,
[08:02.35]it should then deliver superior value to customers in a way that maintains or improves the consumer's and the society's well_being.
[08:13.51]The societal marketing concept calls upon marketers to balance three considerations in setting their marketing policies:company profits,consumer wants,and society's interest.