1. MARKETING MANAGEMENT 12th edition
Defining Marketing
for the 21st Century
Kotler Keller

2. 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.

3. 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.
The Scope of Marketing
Marketing: typically seen as the task of
creating, promoting, and delivering goods
and services to consumers and businesses.

4. What is Marketed?
Goods
Services
Events
Experiences
Persons
Places
Properties
Organizations
Information
Ideas

5. What is Marketed?
Marketers market 10 main types of groups: goods, services, events, experiences, persons, places , properties, organizations, information, and ideas. Let’s take a quick look at these categories.
1- GOODS: Physical goods constitute the bulk of most countries’ production and marketing efforts .Each year, U.S. companies market billions of fresh, canned, bagged, and frozen food products and millions of cars, refrigerators, televisions, machines.

6. What is Marketed?
2- SERVICES: As economies advance, a growing proportion of their activities focuses on the production of services.
Services include the work of airlines, hotels, car rental firms , beauticians , maintenance and repair people, and accountants, bankers, lawyers, engineers, doctors, software
programmers, and management consultants.

7. What is Marketed?
3-EVENTS: Marketers promote time-based events, such as major trade shows, artistic
performances, and company anniversaries. Global sporting events such as the Olympics and the World Cup are promoted aggressively to both companies and fans.
4-EXPERIENCES: By coordinate several services and goods, a firm can create, stage, and market experiences. Walt Disney Kingdom allows customers to visit a fairy kingdom, a pirate ship, or a haunted house.

8. What is Marketed?
5-PERSONS: Artists, musicians, CEOs, physicians, high-profile lawyers and financiers, and other professionals all get help from celebrity marketers.
Some people have done a masterful job of marketing themselves—to become a “brand.”
Missy, Oprah Winfrey.
6-PLACES: Cities, states, regions, and whole nations compete to attract tourists, residents, factories, and company headquarters

9. What is Marketed?
7-PROPERTIES: are intangible rights of ownership to either real property (real estate) or financial property (stocks and bonds). They are bought and sold, and these exchanges require marketing.
8-ORGANIZATIONS: work to build a strong, favorable, and unique image in the minds of their target publics.
Universities, museums, corporations , all use marketing to boost their public images and compete for audiences and funds.

10. What is Marketed?
9-INFORMATION: The production, packaging, and distribution of information are major
Industries . Information is essentially what books, schools, and universities produce, market, and distribute at a price to parents, students, and communities.
10-IDEAS: Every market offering includes a basic idea. Social marketers are busy promoting such ideas as “A Mind Is a Terrible Thing to Waste.”

11. Who Markets ? MARKETERS AND PROSPECTS
A marketer is someone who seeks a response, attention, a purchase, a vote, a donation from another party, called the prospect (potential customer) .
Marketers are skilled at stimulating demand for their products. Marketers are responsible for demand management. They seek to influence the level, timing, and composition
of demand to meet the organization’s
objectives.

12. Demand forecasting
Demand is an economic principle that describes a consumer's desire and willingness and ability to pay a price for a specific good or service. Holding all other factors constant, the price of a good or service increases as its demand increases and vice versa. 
Demand forecasting is an essential activity in sales and marketing. It has to be done so that the company does not store huge inventories and at the same time, does not under utilise its operation setup.

13. Demand forecasting
By taking into considerations the various types of demand in the market, the firm can thereby have a proper forecast and can plan its objectives.
There are mainly 8 types of demands in Marketing which have to be taken into consideration by the marketing manager 
during demand forecasting.
The various types of demands, and how to tackle the challenges for marketers in these various demands, is discussed below.

14. Demand States
Negative
Nonexistent
Latent
Declining
Irregular
Unwholesome
Full
Overfull

15. Demand States Eight demand states are possible:
1. Negative demand—Consumers dislike the product and may even pay to avoid it. e.g. Hospitals, Insurance, which people should have but they delay buying an life insurance policy.
2. Nonexistent demand—Consumers may be unaware of or uninterested in the product. The best example (Pager, Typewriter).
3. Latent demand—Consumers may share a strong need that cannot be satisfied by an existing product. The best example of latent demand are normal phones vs smart phones.

16. Demand States
4. Declining demand—Consumers begin to buy the product less frequently or not at all. For example, when CD players were introduced and IPOD came in the market, the demand for walkman went down.
5. Irregular demand—Consumer purchases vary on a seasonal, monthly, weekly, daily,basis.
The best example is seasonal products like umbrellas, air conditioners or resorts.
6. Full demand—Consumers are adequately buying all products put into the marketplace (Ideal Situation where supply = demand).

17. Demand States
7. Overfull demand—More consumers would like to buy the product than can be satisfied. As in the cement industry generally, most cement industries have limited capacity.
8. Unwholesome demand—Consumers may be attracted to products that have undesirable social Consequences , Best example are cigarettes, alcohol.
In each case, marketers must identify the underlying cause(s) of the demand state and determine a plan of action to shift demand to a more desired state.

18. Markets
MARKETS Traditionally, a “market” was a physical place where buyers and sellers gathered to buy and sell goods.
Economists describe a market as a collection of buyers and sellers who transact over a particular product or product class

19. The Marketing Mix 1-Product, 2-Price, 3-Place, 4-Promotion.
Various marketing activities classified into marketing-mix tools of four broad kinds , which called the traditional four Ps of marketing:
1-Product,
2-Price,
3-Place,
4-Promotion.
The marketing variables under each P

20. The Marketing Mix
Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall

21. Review questions Multiple Choice Questions
1- Marketers market ___________ main types of groups .
A- Seven
B- Nine
C- Ten
D- None of these
Answer: C

22. Review questions Multiple Choice Questions
2-____________ where consumers begin to buy the product less frequently or not at all. .
A- Latent demand
B- Declining demand
C- Less demand
D- Nonexistence demand
Answer: B

23. Review questions Multiple Choice Questions
3-____________ is one of various marketing activities classified into marketing-mix tools.
A- Position
B- Property
C- Payment
D- Product
Answer: D

24. Review questions Brief explain Questions
1- Explain three types of groups Marketers market?
2- Explain the status of Unwholesome demand and give an example?
3- Explain the traditional marketing-mix tools?
Brief explain Questions