1. 1 Defining Marketing for the 21st Century

2. Chapter Questions Why is marketing important?
What is the scope of marketing?
What are some fundamental marketing concepts and new marketing realities?
What are the tasks necessary for successful marketing management?
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3. What is Marketing? Marketing is an organizational function
and a set of processes for creating,
communicating, and delivering value
to customers and for managing
customer relationships in ways that
benefit the organization and its
stakeholders.
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4. What is Marketing Management?
Marketing management is the
art and science
of choosing target markets
and getting, keeping, and growing
customers through
creating, delivering, and communicating
superior customer value.
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5. What is Marketed? Goods Services Events Experiences Persons
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6. What is Marketed? Places Properties Organizations Information Ideas
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7. Figure 1.1 A Simple Marketing System
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8. Key Customer Markets Consumer markets Business markets Global markets
Nonprofit/Government markets
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9. Core Concepts Needs, wants, and demands
Target markets, positioning, segmentation
Offerings and brands
Value and satisfaction
Marketing channels
Supply chain
Competition
Marketing environment
Marketing planning
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10. Types of Needs Stated Real Unstated Delight Secret
(the customer wants an inexpensive car)
Real
(the customer wants a car whose operating cost is low, not initial price)
Unstated
(the customer expects good service from the dealer)
Delight
(the customer would like the dealer to include a GPS navigation)
Secret
(the customer wants to bee seen by friends as a savvy consumer)
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11. Target Markets, Positioning & Segmentation
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12. Offerings and Brands
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13. Value and Satisfaction
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14. Marketing Channels Communication Distribution Service
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15. Marketing Environment
Demographic
Economic
Socio-cultural
Political-legal
Technological
Natural .
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16. Major Societal Forces Network information technology Globalization
Deregulation
Privatization
Heightened competition
Industry convergence
Retail transformation
Disintermediation
Consumer buying power
Consumer participation
Consumer resistance
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17. Company Orientations Production Product Selling Marketing
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18. Holistic Marketing
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19. Relationship Marketing
Customers
Employees
Marketing Partners
Financial Community
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20. Internal Marketing Internal marketing is the task of
hiring, training, and motivating able employees
who want to serve customers well.
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21. Performance Marketing
Financial
Accountability
Social Responsibility Marketing
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22. Types of Corporate Social Initiatives
Corporate social marketing
Cause marketing
Cause-related marketing
Corporate philanthropy
Corporate community involvement
Socially responsible business practices
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23. The Marketing Mix
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24. The New Four Ps People Processes Programs Performance
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25. 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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26. For Review Why is marketing important? What is the scope of marketing?
What are some fundamental marketing concepts and new realities?
What are the tasks necessary for successful marketing management?
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