Lesson 1
FIN20B
MKT20C
IB20C
About me
Nguyễn Lê Diệp Linh
Marketing Lecturer - Business Department
Bachelor of Business MSc
Administration in English Marketing
IELTS 8.0
Working experience
Course details & rules Class participation and preparation 10%
Total classes: 20 slots Essay Test 10%
•20/20 slots = 8.0 points Individual Writing Assignment 10%
•Each absent slot: - 0.25 points
Quizzes (4) 20%
•Bonus Points (up to 2 points) Group assignment 20%
Bonus points are given for:
Final exam 30%
• Answering questions
• Sharing relevant ideas
• Participating actively in discussions
Attend at least 80% of
Any score above 10 will be capped at 10 contact hours in order to be accepted
to the final examination
Late >20 mins = Absent
Question-based learning
Course details & rules Class participation and preparation 10%
Essay Test 10%
Deadlines: No Late Submissions Individual Writing Assignment 10%
Penalty for Late Submissions: Quizzes (4) 20%
- -10/100 or -1/10 point per day
Group assignment 20%
(including weekends and holidays)
Final exam 30%
- 7 days after the deadline: No
submissions accepted + receive a
grade of 0
Attend at least 80% of
contact hours in order to be accepted
to the final examination
Question-based learning
Materials
Principles of Marketing
Kotler, Philip and Armstrong, Gary
2020, 18th Edition
Additional
● [Link]
prompt-engineering-for-everyone
● [Link]
engineering-generative-ai-for-marketing-
advertising
Why are you here?
What are your
expectations?
Lesson 1
Introduction - Marketing:
Creating and Capturing Customer Value
What is Marketing?
What is Marketing?
Marketing is a process by which companies create value for
customers and build strong customer relationships to capture
value from customers in return
The simplest
definition:
Marketing is engaging
customers and
managing profitable
customer relationships.
What is Marketing?
The Marketing Process: Creating and Capturing Customer Value
Capture value
from customers in
Create value for customers and build customer relationships
return
Engage
Construct an
Understand the Design a customers, build
integrated Capture value
marketplace customer profitable
marketing from customers to
and customer value– driven relationships,
program create profits and
needs and marketing and create
that delivers customer equity
wants strategy customer
superior value
delight
What is Marketing?
The Marketing Process: Creating and Capturing Customer Value
Capture value
from customers in
Create value for customers and build customer relationships
return
Engage
Construct an
Understand the Design a customers, build
integrated Capture value
marketplace customer profitable
marketing from customers to
and customer value– driven relationships,
program create profits and
needs and marketing and create
that delivers customer equity
wants strategy customer
superior value
delight
What is the Marketplace
and Customer Needs?
Understanding the Marketplace
and Customer Needs
Customer Needs, Wants, and Demands
Needs are states of deprivation: Wants are the form that Demands
needs take as they are
● Physical — food, clothing, Human wants that are
shaped by culture and
warmth, safety backed by buying power.
individual personality.
● Social — belonging and affection
● Individual — knowledge and self-
expression
Understanding the Marketplace
and Customer Needs
Market Offerings — Products, Services, and Experiences
Marketing myopia
Market offerings
The mistake of paying more attention to
The combination of products, services, the specific products a company offers
information, or experiences offered to a than to the benefits and experiences
market to satisfy a need or want. produced by these products.
Understanding the Marketplace
and Customer Needs
Market Offerings — Products, Services, and Experiences
1. “life-feels-good” experiences
2. The store design is clean, simple, and just
oozing with style—much like an Apple
iPad or a featherweight MacBook Air
3. Full of fully functioning Macs, iPads,
iPhones, and Apple Watches sitting out
for visitors to try
4. Dozens of laid-back Apple employees
close at hand to answer questions and
cater to every whim
Understanding the Marketplace
and Customer Needs
Customer Value and Satisfaction
Expectations of Customers
Value and satisfaction
Marketers
Set the right level of expectations
Not too high or too low
Understanding the Marketplace
and Customer Needs
Exchanges and Relationships
Exchange
The act of obtaining a desired object from
someone by offering something in return
Understanding the Marketplace
and Customer Needs
Markets
Markets
The set of actual and potential buyers of a product.
What is Marketing?
The Marketing Process: Creating and Capturing Customer Value
Capture value
from customers in
Create value for customers and build customer relationships
return
Engage
Construct an
Understand the Design a customers, build
integrated Capture value
marketplace customer profitable
marketing from customers to
and customer value– driven relationships,
program create profits and
needs and marketing and create
that delivers customer equity
wants strategy customer
superior value
delight
How to design a Customer
Value-Driven Marketing
Strategy?
Designing a Customer Value-
Driven Marketing Strategy
Marketing Management
● Marketing management is the art and science of choosing target markets
and building profitable relationships with them.
● What customers will we serve?
● How can we best serve these customers?
● Marketing management is:
● Customer management
● Demand management
What customers will we serve?
Selecting Customers to Serve
● Market segmentation: Dividing the markets into segments of customers
● Target marketing: Which segments to go after
How can we best serve these
customers?
Choosing a Value Proposition
Why should I buy your brand rather than a competitor’s?
The value proposition is the set of benefits or values a company promises to deliver to
customers to satisfy their needs.
How can we best serve these
customers?
Choosing a Value Proposition
Why should I buy your brand rather than a competitor’s?
The value proposition is the set of benefits or values a company promises to deliver to
customers to satisfy their needs.
● Wide product selection ● Exclusivity and prestige
● Affordable prices ● Craftsmanship and
● Convenience quality
● Personalized service
Marketing Management Orientations
Why do they matter?
- Help businesses design strategies to engage customers.
- Balance interests of customers, the organization, and society.
Production Product Selling Marketing Societal
Concept Concept Concept Concept Marketing
Concept
Marketing Management Orientations
Production Concept
Risks
Focus on improving
production and
Consumers will distribution efficiency
favor products that Example
are available and
highly affordable
Marketing Management Orientations
Product Concept
Risks
Continuous product
improvement
Consumers favor
products with the Example
best quality,
performance, and
features.
Marketing Management Orientations
Selling Concept
Risks
Neglects long-term
relationships
focuses on creating sales
transactions rather than
Consumers will not on building long-term,
buy enough of the profitable customer
firm’s products unless Example
relationships
the firm undertakes a
large-scale selling and
promotion effort
typically practiced
with unsought goods
Marketing Management Orientations
Marketing Concept
Risks
Overlooking hidden needs
Customer-centered Example
“sense-and-respond”
Know the needs and strategy
wants of the target
markets and deliver the
desired satisfactions
better than competitors.
Marketing Management Orientations
Societal Marketing Concept
Risks
Challenges in balancing
short-term and long-
term goals
The idea that a company’s
marketing
decisions should consider Social and Example
consumers’ environmental
wants, the company’s responsibility
requirements,
consumers’ long-run
interests, and
society’s long-run
interests.
Marketing Management
Orientations
Selling Concept vs. Marketing Concept
What is Marketing?
The Marketing Process: Creating and Capturing Customer Value
Capture value
from customers in
Create value for customers and build customer relationships
return
Engage
Construct an
Understand the Design a customers, build
integrated Capture value
marketplace customer profitable
marketing from customers to
and customer value– driven relationships,
program create profits and
needs and marketing and create
that delivers customer equity
wants strategy customer
superior value
delight
How to Prepare an
Integrated Marketing Plan &
Program?
How to Prepare an Integrated
Marketing Plan & Program?
Integrated Marketing Program
An integrated marketing program is a comprehensive plan that communicates
and delivers the intended value to chosen customers.
How to Prepare an Integrated
Marketing Plan & Program?
Marketing Mix
The marketing mix is the set of tools (four Ps) the firm uses to implement its marketing
strategy:
How to Prepare an Integrated
Marketing Plan & Program?
Marketing Mix
The marketing mix is the set of tools (four Ps) the firm uses to implement its marketing
strategy:
How to Prepare an Integrated
Marketing Plan & Program?
Marketing Mix
● What is the price range of your
● What is your product?
product’s competitors?
● What does your product do?
● What is the price range of your
Does the product meet an
target audience?
unfilled need or provide a
● What price is too high for your
novel experience?
audience? What price is too
● Who is your product’s target
low?
audience?
● What price best fits your
● How is your product different
target market?
from what others offer?
● What is the best time to reach
● Where will you sell your
your target audience?
product?
● What marketing channels are
● Where does your target
most effective for your target
audience shop?
audience?
● What distribution
● What advertising approaches
channels are best to reach
are most persuasive to your
your target market?
target audience?
What is Marketing?
The Marketing Process: Creating and Capturing Customer Value
Capture value
from customers in
Create value for customers and build customer relationships
return
Engage
Construct an
Understand the Design a customers, build
integrated Capture value
marketplace customer profitable
marketing from customers to
and customer value– driven relationships,
program create profits and
needs and marketing and create
that delivers customer equity
wants strategy customer
superior value
delight
How to Build Customer
Relationships?
Customer Relationship Management (CRM)
Customer relationship management
The overall process of building and maintaining profitable customer relationships
by delivering superior value and satisfaction.
Customer perceived value
The customer’s evaluation of the difference between all the benefits and all the
costs of a marketing offer relative to those of competing offers.
Customer satisfaction
The extent to which a product’s perceived performance matches a buyer’s
expectations.
How to Build Customer
Relationships?
Customer Relationship Management (CRM)
Customer Relationship Levels and Tools
Basic relationship
Full relationships
Frequency marketing programs Club marketing programs
How to Build Customer
Relationships?
Customer Engagement and Today’s Digital, Mobile, and Social
Media
Customer-engagement marketing
Making the brand a meaningful part of consumers’ conversations and lives by fostering
direct and continuous customer involvement in shaping brand conversations,
experiences, and community.
How to Build Customer
Relationships?
Consumer-Generated Marketing
Brand exchanges created by consumers themselves—both invited and uninvited—by
which consumers are playing an increasing role in shaping their own brand experiences
and those of other consumers. They can be: Social posts or sharing, Customer reviews,
Case studies, Referrals , Community forums, ...
Louis Vuitton x Yayoi Kusama 2023
How to Build Customer
Relationships?
Partner Relationship Management
Partner relationship management refers to working closely with partners in other
company departments and outside the company to jointly bring greater value to
customers.
Partners inside the company is every function area interacting with customers.
Electronically
Cross-functional teams
Partners outside the company is how marketers connect with their suppliers,
channel partners, and competitors by developing partnerships.
What is Marketing?
The Marketing Process: Creating and Capturing Customer Value
Capture value
from customers in
Create value for customers and build customer relationships
return
Engage
Construct an
Understand the Design a customers, build Capture value
integrated
marketplace customer profitable from customers
marketing
and customer value– driven relationships, to create profits
program
needs and marketing and create and customer
that delivers
wants strategy customer equity
superior value
delight
What values can we capture
from customers?
What values can we capture from
customers?
Creating Customer Loyalty and Retention
Customer lifetime value
The value of the entire stream of purchases a customer makes over a lifetime of patronage.
it’s 5 times
cheaper to keep an
old customer than
acquire a new one
Spend more & stay
around longer
What values can we capture from
customers?
Growing Share of Customer
Share of customer is the portion of the customer’s purchasing that a company gets in
its product categories
What values can we capture from
customers?
Building Customer Equity
Customer equity is the total combined
customer lifetime values of all of the
company’s customers.
Build the right relationship with
the right customers
● Different types of customers
require different relationship
management strategies
● Treating customers as assets that
need to be managed and
maximized.
The
Changing
Marketing
Landscape
The Changing Marketing Landscape
Major Developments
Digital age
Big Data and Artificial Intelligence (AI)
Not-for-profit marketing
Ethics and social responsibility
Globalization
The Changing Marketing Landscape
The Digital Age: Online, Mobile, and Social Media Marketing
Market research
Learning about and tracking customers
Create new customized products
Distribution
Communication
Video conferencing
Online data services
Internet—creates marketplaces and
marketspaces
Information
Entertainment
Communication
The Changing Marketing Landscape
Big Data and Artificial Intelligence (AI)
Brands can use such big data to gain deep customer insights, personalize marketing
offers, and improve customer engagements and service.
The Changing Marketing Landscape
The Growth for Not-for-Profit Marketing
Colleges
Hospitals
Museums
Zoos
Orchestras
Religious groups
The Changing Marketing Landscape
Ethics and social responsibility
Thank you!
Any questions?
Nguyen Le
Diep Linh
Marketing Lecturer
M: (+84) 948 122 398
E: linhnld2@[Link]