1. Lecture-5 MGT301 Principles of Marketing

2. Summary of Lecture-4

3. How has Marketing Changed Over Time?

4. Production orientation Sales orientation Marketing orientation Social marketing orientation The stages in the evolution of marketing

5. SOCIETAL MARKETING CONCEPT PRODUCTION CONCEPT PRODUCT CONCEPT MARKETING CONCEPT KEY MARKETING PHILOSOPHIES SELLING CONCEPT

6. Society (Human Welfare) Society (Human Welfare) Consumers (Satisfaction) Consumers (Satisfaction) Company (Profits) Company (Profits) Societal Marketing Concept Societal Marketing Concept

7. The customer as the controlling function and marketing as the integrative function Customer Marketing Production Human resources Finance

8. Today’s Topics

9. Marketing Challenges in the 21st century

10. Porter’s 5 Forces Model of Competition

11. Threat of New Entrants Threat of Substitute Products Threat of New Entrants Bargaining Power of Buyers Bargaining Power of Suppliers Rivalry Among Competing Firms in Industry *

12. Marketing Challenges  The Information Technology Boom  Rapid Globalization  The Changing World Economy  The Call for more ethical and social Responsibility  The New Marketing Landscape

13. The Information Technology Boom

14. Major Forces Shaping the Digital Age

15. Digitalization and Connectivity –The flow of digital information requires connectivity  Intranets, Extranets, and the Internet The Internet Explosion –Key driver of the “new economy”

16.  New Types of Intermediaries  Connecting with Customers  Connecting with Marketing Partners  Connecting Inside the Company  Connecting with the World around us

17. E-business: –uses electronic means and platforms to conduct business. E-commerce: –facilitates the sale of products and services by electronic means.

18. E-marketing: –Includes efforts that inform, communicate, promote, and sell products and services over the Internet. E-commerce benefits both buyers and sellers Technology for Connecting

19. Electronic Commerce Financial Institution consumer retailer / manufacturer Internet

20. The Digital Revolution

21. The Digital Revolution: one of the biggest changes in the world of marketing. Changes in technology are transforming the ways we: –communicate, –buy, –sell, –learn, and –work.

22. Rapid Globalization

23. “Global Village”

24. The Changing World Economy

25. The Call for more ethical and social Responsibility

26. The New Marketing Landscape

27. Enough for today...

28. Summary Marketing Challenges in the 21st century

29. Threat of New Entrants Threat of Substitute Products Threat of New Entrants Bargaining Power of Buyers Bargaining Power of Suppliers Rivalry Among Competing Firms in Industry *

30.  The Information Technology Boom  Rapid Globalization  The Changing World Economy  The Call for more ethical and social Responsibility  The New Marketing Landscape

31. Next….  Marketing Process  Analyzing marketing opportunities  Selecting target markets

32. Lecture-5 MGT301 Principles of Marketing