1. Marketing Management Chapter 1
Defining Marketing for the 21st Century

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? Marketing Defined:
“Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging value with others”
Marketing is about managing profitable customer relationships
Attracting new customers
Retaining and growing current customers

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

5. Company Orientations
Production
Product
Selling
Marketing

6. Marketing Management Philosophies
Consumers favor products that are
available and highly affordable.
Improve production and distribution.
Consumers favor products that offer
the most quality, performance, and
innovative features.
Consumers will buy products only if
the company promotes/ sells these
products.
Focuses on needs/ wants of target
markets & delivering satisfaction
better than competitors.
Includes relationship, internal, integrated
And social responsibility marketing .
Production Concept
Product Concept
Selling Concept
Marketing Concept
Holistic Marketing Concept

7. Figure 1.3 Holistic Marketing Dimensions

8. What is Marketing?
Marketing Management is a business discipline which is focus on the practical application of marketing techniques and the management of a firm’s marketing resources and activities.

9. Demand Management Negative Demand Nonexistent Demand Latent Demand
Declining Demand
Irregular Demand
Full Demand
Overfull Demand
Unwholesome Demand