1 defining marketing for the 21 century ... 1 1 defining marketing for the 21st century 1 chapter...
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29/09/2014
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1Defining Marketingfor the 21st Century
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Chapter Questions
Why is marketing important? What is the scope of marketing? What are some fundamental marketing
concepts? How has marketing management changed? What are the tasks necessary for successful
marketing management?
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What is Marketing?
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Marketing is an organizational functionand a set of processes for creating,
communicating, and delivering valueto customers and for managing
customer relationships in ways thatbenefit the organization and its
stakeholders.
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What is Marketing Management?
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Marketing management is theart and science
of choosing target marketsand getting, keeping, and growing
customers throughcreating, delivering, and communicating
superior customer value.
What is Marketed?
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• Goods
• Services
• Events
• Experiences
• Persons
What is Marketed?
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• Places
• Properties
• Organizations
• Information
• Ideas
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Demand States
Negative Nonexistent Latent Declining
Irregular Unwholesome Full Overfull
Figure 1.1 Structure of Flows inModern Exchange Economy
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Figure 1.2A Simple Marketing System
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Key Customer Markets
Consumer markets Business markets Global markets Nonprofit/Government markets
Core Concepts
Needs, wants, anddemands
Target markets,positioning,segmentation
Offerings andbrands
Value andsatisfaction
Marketing channels Supply chain Competition Marketing
environment Marketing planning
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Types of Needs
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Stated
Real
Unstated
Delight
Secret
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Target Markets,Positioning & Segmentation
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Offerings and Brands
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Value and Satisfaction
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Marketing Channels
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Communication
Distribution
Service
Marketing Environment
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Demographic Economic
Socio-cultural
NaturalTechnological
Political-legal
Major Societal Forces
Network informationtechnology
Globalization Deregulation Privatization Heightened competition
Industry convergence Retail transformation Disintermediation Consumer buying power Consumer participation Consumer resistance
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Company Orientations
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Production
Product
Selling
Marketing
Holistic Marketing
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Relationship Marketing
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Customers
Employees
Marketing Partners
Financial Community
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Integrated Marketing
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Internal Marketing
Internal marketing is the task ofhiring, training, and motivating able employees
who want to serve customers well.
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Performance Marketing
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FinancialAccountability
Social ResponsibilityMarketing
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Types ofCorporate Social Initiatives
Corporate social marketing Cause marketing Cause-related marketing Corporate philanthropy Corporate community involvement Socially responsible business practices
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The Marketing Mix
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The New Four Ps
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Processes
People
Programs
Performance
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Marketing Management Tasks
Develop market strategies and plans Capture marketing insights Connect with customers Build strong brands Shape market offerings Deliver value Communicate value Create long-term growth
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For Review
Why is marketing important? What is the scope of marketing? What are some fundamental marketing
concepts? How has marketing management changed? What are the tasks necessary for successful
marketing management?
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-29