...chapter 1 Marketing in a Changing World: Creating Customer Value and Satisfaction ROAD MAP: Previewing the Concepts Fasten your seat belt! You’re about to begin an exciting journey toward learning about marketing. To start you off in the right direction, we’ll first define marketing and its key concepts. Then, you’ll visit the various philosophies that guide marketing management and the challenges marketing faces as we move into the new millennium. The goal of marketing is to create profitable customer relationships by delivering superior value to customers. Understanding these basic concepts, and forming your own ideas about what they really mean to you, will give you a solid foundation for all that follows. After studying this chapter, you should be able to 1. define what marketing is and discuss its core concepts 2. explain the relationships between customer value, satisfaction, and quality 3. define marketing management and understand how marketers manage demand and build profitable customer relationships 4. compare the five marketing management philosophies 5. analyze the major challenges facing marketers heading into the next century Our first stop: Nike. This superb marketer has built one of the world’s most dominant brands. The Nike example shows the importance of — and the difficulties in — building lasting, value-laden customer relationships. Even highly successful Nike can’t rest on past successes. Facing “big-brand backlash,” it must now learn how to be both big...
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...chapter 1 Marketing in a Changing World: Creating Customer Value and Satisfaction ROAD MAP: Previewing the Concepts Fasten your seat belt! You’re about to begin an exciting journey toward learning about marketing. To start you off in the right direction, we’ll first define marketing and its key concepts. Then, you’ll visit the various philosophies that guide marketing management and the challenges marketing faces as we move into the new millennium. The goal of marketing is to create profitable customer relationships by delivering superior value to customers. Understanding these basic concepts, and forming your own ideas about what they really mean to you, will give you a solid foundation for all that follows. ᭤ After studying this chapter, you should be able to 1. define what marketing is and discuss its core concepts 2. explain the relationships between customer value, satisfaction, and quality 3. define marketing management and understand how marketers manage demand and build profitable customer relationships 4. compare the five marketing management philosophies 5. analyze the major challenges facing marketers heading into the next century Our first stop: Nike. This superb marketer has built one of the world’s most dominant brands. The Nike example shows the importance of — and the difficulties in — building lasting, value-laden customer relationships. Even highly successful Nike can’t rest on past successes. Facing “big-brand backlash,” it must now learn...
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...File: ch01, Chapter 1: Basics of Operations Management Multiple Choice 1. Every business is managed through what three major functions? a) accounting, finance, and marketing b) engineering, finance, and operations management c) accounting, purchasing, and human resources d) accounting, engineering, and marketing e) finance, marketing, and operations management 2. Which business function is responsible for managing cash flow, current assets, and capital investments? a) accounting b) finance c) marketing d) operations management e) purchasing 3. Which business function is responsible for managing cash flow, current assets, and capital investments? a) accounting b) finance c) marketing d) operations management e) purchasing 4. Which business function is responsible for sales, generating customer demand, and understanding customer wants and needs? a) finance b) human resources c) marketing d) operations management e) purchasing 5. Which business function is responsible for planning, coordinating, and controlling the resources needed to produce a company’s products and services? a) engineering b) finance c) human resources d) marketing e) operations management 6. Which of the following is not true for business process reengineering? a) It can increase efficiency. b) It cannot be used to improve quality. c) It can reduce costs. d) It involves asking why things are done in a certain way. e) It involves redesigning processes. 7...
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...valuable skills in business today. Businesses of all types are utilizing six sigma, lean manufacturing, and lean six sigma as the primary continuous improvement methodology.Our Lean Manufacturing Certification course, delivered worldwide to individuals, colleges, and training centers, includes all of the major concepts in a single course. Definition: What does it mean to be "Six Sigma"? Six Sigma at many organizations simply means a measure of quality that strives for near perfection. But the statistical implications of a Six Sigma program go well beyond the qualitative eradication of customer-perceptible defects. It's a methodology that is well rooted in mathematics and statistics. The objective of Six Sigma Quality is to reduce process output variation so that on a long term basis, which is the customer's aggregate experience with our process over time, this will result in no more than 3.4 defect Parts per Million opportunities (DPMO). What Is Six Sigma ? Six Sigma is a meticulous methodology that make use of information management by facts and statistical analysis to define, measure and improve a company's operational performance, practices and systems. It identifies and prevents "defects" in manufacturing and service-related processes to anticipate, and achieve or exceed total customer satisfaction. What is the Six Sigma Objective? The primary objective of the Six Sigma methodology is the implementation of a measurement based strategy, which focuses on process and...
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...Operations Management for MBAs Operations Management for MBAs Fifth Edition Jack R. Meredith Scott M. Shafer Wake Forest University VICE PRESIDENT & EXECUTIVE PUBLISHER EXECUTIVE EDITOR PROJECT EDITOR ASSOCIATE DIRECTOR OF MARKETING MARKETING MANAGER MARKETING ASSISTANT PRODUCT DESIGNER MEDIA SPECIALIST SENIOR CONTENT MANAGER SENIOR PRODUCTION EDITOR PHOTO DEPARTMENT MANAGER DESIGN DIRECTOR COVER DESIGNER PRODUCTION MANAGEMENT George Hoffman Lisé Johnson Brian Baker Amy Scholz Kelly Simmons Marissa Carroll Allison Morris Ethan Bernard Lucille Buonocore Anna Melhorn Hillary Newman Harry Nolan Wendy Lai Ingrao Associates This book was set in 10/12 ITC Garamond light by MPS Limited and printed and bound by RRD/Jefferson City. The cover was printed by RRD/Jefferson City. This book is printed on acid free paper. Copyright © 2013, 2010, 2007, 2002, 1999 John Wiley & Sons, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc. 222 Rosewood Drive, Danvers, MA 01923, website www.copyright.com. Requests to the Publisher for permission should be addressed to...
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...Citizenship 2 Overview 3 History 1972 Production of B/W TV sets began 1992 Company ranked world’s top DRAM supplier 1969 Company established 1980 Korea TelecommunicationsCorp. acquired 1995 TFT-LCD mass production began 1974 Wafer fabrication started 1988 Samsung Semiconductor & Telecommunications merged with Samsung Electronics Co. 1994 256Mb DRAM developed 1996 CDMA cellular services commercialized 1995 - 2009 SAMSUNG. All rights reserved. | 4 History 2004 S-LCD Corp., LCD joint venture with Sony established World’s 1st to develop and demonstrate Mobile WiMAX 2003 Company became leader in flash memory 2006 World’s 1st Blu-ray Player launched Provides world’s 1st Solid State Drive for PC applications 2009 Reorganized into stand-alone business units 1997 Worldwide Olympic Partner contract signed 1999 World’s 1st to offer full line-up of digital TVs Developed watch phone, MP3 phone and TV phone 2005 World’s 1st Satellite and Terrestrial DMB terminals launched World’s 1st 102”PDP TV, 82”LCD TV, and 71” DLP™ TV developed 2010 ~ 2011 Acquired Samsung Digital Imaging Co. Announced investment in medical devices business 1995 - 2009 SAMSUNG. All rights reserved. | 5 Global Network 68 Countries January 2011 Manufacturing Subsidiaries Sales Subsidiaries Distribution Centers Design Centers R&D Centers Branch Offices and Other Total Facilities and Offices 39 54 2 7 24 80 206 ...
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...company’s five business units, which offer a wide array of products and services, are the result of an aggressive strategy of mergers and acquisitions starting in the late 1980s. The corporate staff is surprisingly small, comprised of general management, legal staff, and human resources. Part of the reason for this small staff is due to the eclectic array of businesses housed within one corporate entity. A Business Week editor recently commented that “Consolidated Products could easily be broken up into five separate companies, since at one time it was five separate companies.” The editor also said that if the company “ever learned how to leverage its size in the marketplace, Consolidated Products could be a Wall Street powerhouse!” While Consolidated Products is a global corporation with facilities around the world, it operates each business unit as a highly independent and decentralized company. The corporate culture is best described as entrepreneurial, with each business unit being headed by an executive vice president who has complete profit and loss accountability. One of the business units, Santek Images, is the focus of this case. Santek Images Santek Images produces instant film and the imaging products that use that film for industrial applications. Increasingly, Santek has shifted much of its production requirements to oversees producers. The outsourcing of finished products, also called contract purchasing, represents a 180-degree shift from...
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...What is a Business Model? The e-Business model, like any business model, describes how a company functions; how it provides a product or service, how it generates revenue, and how it will create and adapt to new markets and technologies. It has four traditional components as shown in the figure, The e-Business Model. These are the e-business concept, value proposition, sources of revenue, and the required activities, resources, and capabilities. In a successful business, all of its business model components work together in a cooperative and supportive fashion. Figure: e-Business Model [pic] Although an e-Business is often thought of as e-Commerce, there are other types of online activities that fall under the definition of e-Business that can benefit from this discussion (see e-Business Basics for basic concepts and definitions). E-Business Concept The e-business concept describes the rationale of the business, its goals and vision, and products or offerings from which it will earn revenue. A successful concept is based on a market analysis that identifies customers likely to purchase the product and how much they are willing to pay for it. Goals and Objectives The e-Business concept should be based, in part, on goals such as "become a major car seller, bank, or other commercial enterprise", and "to become a competitor to some of the well-known firms in each of these industries." Objectives are more specific and measurable, such as "capture 10% of the market", or "have...
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...INTRODUCTION REVIEW OF LITERATURE This project is concerned about marketing management. It covers in details about the concepts and principles of marketing, including the marketing plan. With the aid of Infosys organization we will try through the course of this document to explore the marketing plan, its application and its effectiveness. The main reasons for selecting Infosys Corporation as a case study were following: ▪ Infosys being a multinational company has a universal presence ▪ Diverse range of products ▪ MNC with a financial strength to explore and implement all aspects of the Marketing plan including high end spending on Promotions. In this project the following points are going to be discussed: ▪ Overview of Infosys and its product line in the UAE ▪ Target Market and Segmentation ▪ Sample List of Marketing Mix being used by the organization. ▪ Find out if the marketing mix used by organization is satisfactory. ▪ Our suggestion to the organization concerning the marketing plan. CHAPTER 1 – INTRODUCTION 1.1 Industrial Review The Indian Information Technology industry accounts for a 5.19% of the country's GDP and export earnings as of 2009, while providing employment to a significant number of its tertiary sector workforce. More than 2.3 million people are employed in the sector either directly or indirectly...
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...Lecture 1 – Chapters 1 and 2 Chap 1 Marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return * Deal with customers, satisfying customers’ needs * Attract new customers by promising superior value * Keep and grow current customers by delivering satisfaction Marketing Process Understand the marketplace and customer needs and wants * Customer needs, wants and demands * Needs: status of felt deprivation, Maslow hierarchy of needs (Physiological, Safety, Belonging – Love, Self-esteem, Self-actualisation) * Wants: form that human needs take as they are shaped by culture and individual personality * Demands: humans wants that are backed by buying power * Conduct consumer research and analyse the large amount of data * Marketing offerings * Combination of products, services, information or experiences offered to a market to satisfy a need or want * Marketing myopia: mistake of sellers paying more attention to the specific products offered by a company rather than to the benefits and experiences produced by these products ~ focus on existing wants and lose sight of the underlying needs * Value and satisfaction * Satisfied customers will make repeated purchases and tell others about their good experience * Dissatisfied customers will switch to competitors and disparage the product to others ...
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...Customer Relationship Management VSF This book is dedicated to my children Emma and Lewis of whom I am enormously proud. Customer Relationship Management Concepts and Technologies Second edition Francis Buttle AMSTERDAM • BOSTON • HEIDELBERG • LONDON • NEW YORK • OXFORD PARIS • SAN DIEGO • SAN FRANCISCO • SINGAPORE • SYDNEY • TOKYO Butterworth-Heinemann is an imprint of Elsevier Butterworth-Heinemann is an imprint of Elsevier Linacre House, Jordan Hill, Oxford OX2 8DP 30 Corporate Drive, Suite 400, Burlington, MA 01803, USA First edition 2009 Copyright © 2009, Francis Buttle Published by Elsevier Ltd. All rights reserved. The right of Francis Buttle to be identified as the author of this work has been asserted in accordance with the Copyright, Designs and Patents Act 1988 No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means electronic, mechanical, photocopying, recording or otherwise without the prior written permission of the publisher. Permissions may be sought directly from Elsevier’s Science & Technology Rights Department in Oxford, UK: phone ( 44) (0) 1865 843830; fax: ( 44) (0) 1865 853333; email: permissions@elsevier.com. Alternatively you can submit your request online by visiting the Elsevier web site at http://elsevier.com/locate/ permissions, and selecting Obtaining permission to use Elsevier material. Notice No responsibility is assumed by the publisher for any injury and/or damage...
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...Purchasing and Supply Management focuses on decision making throughout the supply chain. Based on the conviction that supply managers, in concert with suppliers and distributors, have to contribute to organizational goals and strategies, this edition continues to focus on how to make that mission a reality. Fourteenth Edition Highlights of the Fourteenth Edition: More than 40 real-life supply chain cases afford the opportunity to apply of the acquisition process. Criteria for supply decisions have been organized into three categories: (1) strategic, (2) operational, and (3) additional. In this third category, new factors such as balance sheet and income statement considerations, dimensions of risk, and environmental and social considerations are considered. Visit the text’s Online Learning Center at www.mhhe.com/Johnson14e Michiel R. Leenders, D.B.A., PMAC Fellow Professor of Purchasing Management Emeritus Richard Ivey School of Business The University of Western Ontario Anna E. Flynn, Ph.D., C.P.M. Formerly Clinical Associate Professor Supply Chain Management Thunderbird School of Global Management Formerly Associate Professor Institute for Supply Management TM Johnson Leenders Flynn Purchasing and Supply Management Johnson Leenders Flynn MD DALIM #1093963 06/05/10 BLUE GREEN P. Fraser Johnson, Ph.D. Leenders Purchasing Management Association of Canada Chair Associate Professor, Operations Management Richard Ivey School...
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...November 2010 [pic] Contents Executive summary 5 1. Introduction 8 2. Value chain analysis 9 2.1. The general value chain concept 9 2.2. The value chain concept applied to fisheries and aquaculture 11 2.3. Conclusions about using the value chain analysis 14 3. The international seafood industry and Africa’s place in it 16 3.1. African seafood exports and imports 18 3.2. Main destinations 20 3.3. Imports 21 3.4. Value addition in Africa 21 4. Studies where value chain analysis has been used 22 4.1. Revenue distribution through the seafood value chain 23 4.2. Lake Victoria Nile perch fishery, Tanzania 25 4.3. Pelagic fishery in Morocco 32 4.4. Value addition opportunities in the Namibian seafood industry 38 4.5. Ugandan Nile perch quality management and certification 41 4.6. The Kenya capture fisheries value chain 45 4.7. Nigerian domestic catfish production 50 4.8. Gender analysis of aquaculture value chain in Nigeria and Vietnam 54 4.9. Private sector applications of value chain analysis 60 5. On-going value chain analysis studies 68 5.1. Value chain analysis of international fish trade and food security 68 5.2. Ghana: Value Chain and Cost Earnings Analysis 69 6. Example from Asia: Analysis of the fishery sector in Sri Lanka 70 6.1. Value chain summary 71 6.2. Production 71 6.3. Ownership and collective...
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...Purchasing and Supply Management focuses on decision making throughout the supply chain. Based on the conviction that supply managers, in concert with suppliers and distributors, have to contribute to organizational goals and strategies, this edition continues to focus on how to make that mission a reality. Fourteenth Edition Highlights of the Fourteenth Edition: More than 40 real-life supply chain cases afford the opportunity to apply of the acquisition process. Criteria for supply decisions have been organized into three categories: (1) strategic, (2) operational, and (3) additional. In this third category, new factors such as balance sheet and income statement considerations, dimensions of risk, and environmental and social considerations are considered. Visit the text’s Online Learning Center at www.mhhe.com/Johnson14e Michiel R. Leenders, D.B.A., PMAC Fellow Professor of Purchasing Management Emeritus Richard Ivey School of Business The University of Western Ontario Anna E. Flynn, Ph.D., C.P.M. Formerly Clinical Associate Professor Supply Chain Management Thunderbird School of Global Management Formerly Associate Professor Institute for Supply Management TM Johnson Leenders Flynn Purchasing and Supply Management Johnson Leenders Flynn MD DALIM #1093963 06/05/10 BLUE GREEN P. Fraser Johnson, Ph.D. Leenders Purchasing Management Association of Canada Chair Associate Professor, Operations Management Richard Ivey School...
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...LIST OF CONTRIBUTORS Solomon Appel Robert H. Ashton Reza Barkhi Metropolitan College of New York, New York, NY, USA Fuqua School of Business, Duke University, Durham, NC, USA Pamplin College of Business, Virginia Polytechnic Institute and State University, Blacksburg, VA, USA School of Management, University of Michigan-Dearborn, MI, USA College of Business Administration, San Diego State University, San Diego, CA, USA Department of Accounting, University of Arkansas at Little Rock, AR, USA Zicklin School of Business, CUNY – Baruch College, New York, NY, USA Belk College of Business, University of North Carolina at Charlotte, NC, USA College of Business and Economics, West Virginia University, Morgantown, WV, USA RSM Erasmus University, Department of Financial Management, Rotterdam, The Netherlands Mohamed E. Bayou Chee W. Chow Cynthia M. Daily Harry Z. Davis Nabil Elias Arron Scott Fleming Frank G. H. Hartmann vii viii LIST OF CONTRIBUTORS Fred A. Jacobs Frances Kennedy James M. Kohlmeyer, III Leslie Kren John Y. Lee Michael S. Luehlfing Adam S. Maiga School of Accountancy, Georgia State University, Atlanta, GA, USA Department of Accountancy and Legal Studies, Clemson University, SC, USA College of Business, East Carolina University, Greenville, NC, USA School of Business, University of Wisconsin, Milwaukee, WI, USA Lubin School of Business, Pace University, Pleasantville, NY, USA School of Professional Accountancy, Louisiana Tech University, LA...
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