Marketing management

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  • 1. PowerPoint by Milton M. Pressley Creative Assistance by D. Carter and S. Koger 1-1Copyright © 2003 Prentice-Hall, Inc.
  • 2. Chapter 1Defining Marketing for the21st Centuryby PowerPoint by Milton M. Pressley University of New Orleans 1-2 Copyright © 2003 Prentice-Hall, Inc.
  • 3. Kotler onMarketingThe future is not ahead of us. It has already happened. Unfortunately, it is unequally distributed among companies, industries and nations. 1-3 Copyright © 2003 Prentice-Hall, Inc.
  • 4. Chapter Objectives In this chapter we will address the following questions:  What is the new economy like?  What are the tasks of marketing?  What are the major concepts and tools of marketing?  What orientations do companies exhibit in the marketplace?  How are companies and marketers responding to the new challenges? 1-4 Copyright © 2003 Prentice-Hall, Inc.
  • 5. The New Economy Substantial increase in buying power A greater variety of goods and services A greater amount of information about practically anything A greater ease in interacting and placing and receiving orders An ability to compare notes on products and services 1-5 Copyright © 2003 Prentice-Hall, Inc.
  • 6. The New Economy Websites can provide companies with powerful new information and sales channels. Companies can collect fuller and richer information about markets, customers, prospects and competitors. Companies can facilitate and speed up communications among employees. Companies can have 2-way communication with customers and prospects 1-6 Copyright © 2003 Prentice-Hall, Inc.
  • 7. The New Economy Companies can send ads, coupons, samples, information to targeted customers. Companies can customize offerings and services to individual customers. The Internet can be used as a communication channel for purchasing, training, and recruiting. Companies can improve logistics and operations for cost savings while improving accuracy and service quality. 1-7 Copyright © 2003 Prentice-Hall, Inc.
  • 8. The three major challenges faced bybusinesses today are globalization,advances in technology, and deregulation.Which of these affords the greatestopportunity for established businesses?Which affords the greatestopportunities for newbusinesses? Why? 1-8 Copyright © 2003 Prentice-Hall, Inc.
  • 9. Marketing Task Ten rules of radical marketing  The CEO must own the marketing function.  Make sure the marketing department starts small and flat and stays small and flat.  Get face to face with the people who matter most – the customers.  Use market research cautiously.  Hire only passionate missionaries. 1-9 Copyright © 2003 Prentice-Hall, Inc.
  • 10. Marketing Task  Love and respect your customers.  Create a community of consumers.  Rethink the marketing mix.  Celebrate common sense.  Be true to the brand. Three stages of marketing practice  Entrepreneurial Marketing  Formulated Marketing  Intrepreneurial Marketing 1-10 Copyright © 2003 Prentice-Hall, Inc.
  • 11. The Scope of Marketing Marketing: typically seen as the task of creating, promoting, and delivering goods and services to consumers and businesses. 1-11 Copyright © 2003 Prentice-Hall, Inc.
  • 12. 1. Negative A major part of the market dislikes the demand product and may even pay a price toTable 1.1 avoid it—vaccinations, dental work, vasectomies, and gallbladder operations,Demand for instance. Employers have a negativeStates and demand for ex-convicts and alcoholics as employees. The marketing task is toMarketing analyze why the market dislikes theTasks product and whether a marketing program consisting of product redesign, lower prices, and more positive promotion can change beliefs and attitudes. 2. No demand Target consumers may be unaware of or uninterested in the product. Farmers may not be interested in a new farming method, and college students may not be interested in foreign-language courses. The marketing task is to find ways to connect the benefits of the product with people’s natural needs and interests. See text for complete table 1-12 Copyright © 2003 Prentice-Hall, Inc.
  • 13. Can you name a category ofproducts for which your negativefeelings have softened?What precipitatedthis change? 1-13 Copyright © 2003 Prentice-Hall, Inc.
  • 14. The Scope of Marketing Places  Goods Properties  Services Organizations  Experiences Information  Events Ideas  Persons 1-14 Copyright © 2003 Prentice-Hall, Inc.
  • 15. The DecisionsMarketers Make Consumer Markets Business Markets Global Markets Nonprofit and Governmental Markets 1-15 Copyright © 2003 Prentice-Hall, Inc.
  • 16. Marketing Concepts and Tools Defining Marketing  Marketing  Marketing management Core Marketing Concepts  Target Markets and Segmentation 1-16 Copyright © 2003 Prentice-Hall, Inc.
  • 17. Figure 1-1: A Simple Marketing System 1-17 Copyright © 2003 Prentice-Hall, Inc.
  • 18. Marketing Concepts and Tools  Marketplace, Marketspace, and Metamarket 1-18 Copyright © 2003 Prentice-Hall, Inc.
  • 19. Figure 1-2: Structure of Flows in a Modern Exchange Economy 1-19 Copyright © 2003 Prentice-Hall, Inc.
  • 20. Marketing Concepts and Tools Marketers and Prospects Needs, Wants, and Demands Product, Offering, and Brand Value and Satisfaction  Customer value triad  Value Value = Benefits / Costs = (Functional benefits + Emotional benefits) / (Monetary costs + Time costs + Energy costs + Psychic costs) 1-20 Copyright © 2003 Prentice-Hall, Inc.
  • 21. Marketing Concepts and Tools Exchange and Transactions  Exchange  Transaction  Barter  Transfer  Behavioral response 1-21 Copyright © 2003 Prentice-Hall, Inc.
  • 22. Figure 1-3: Two-Party Exchange Map Showing Want Lists of Both Parties 1-22 Copyright © 2003 Prentice-Hall, Inc.
  • 23. Marketing Concepts and Tools  Relationships and Networks  Relationship marketing  Marketing network  Marketing Channels  Supply Chain  Competition 1-23 Copyright © 2003 Prentice-Hall, Inc.
  • 24. Figure 1-4: U.S. Steel Radar Screen 1-24 Copyright © 2003 Prentice-Hall, Inc.
  • 25. Marketing Concepts and Tools  Brand competition  Industry competition  Form competition  Generic competition Marketing environment  Task environment  Broad environment Marketing Program  Marketing program  Marketing mix 1-25 Copyright © 2003 Prentice-Hall, Inc.
  • 26. Figure 1-5:The Four PComponentsof theMarketing Mix 1-26 Copyright © 2003 Prentice-Hall, Inc.
  • 27. Figure 1-6: Marketing-Mix Strategy 1-27 Copyright © 2003 Prentice-Hall, Inc.
  • 28. Company OrientationsToward the Marketplace  Production Concept  Product concept  Selling Concept  Marketing Concept 1-28 Copyright © 2003 Prentice-Hall, Inc.
  • 29. Figure 1-7: Contrasts Between the Sales Concept and the Marketing Concept 1-29 Copyright © 2003 Prentice-Hall, Inc.
  • 30. Company OrientationsToward the Marketplace  Target Market  Customer Needs  Stated needs  Real needs  Unstated needs  Delight needs  Secret needs 1-30 Copyright © 2003 Prentice-Hall, Inc.
  • 31. Company OrientationsToward the Marketplace  Integrated Marketing  External marketing  Internal marketing 1-31 Copyright © 2003 Prentice-Hall, Inc.
  • 32. Figure 1-8: Traditional Organizational Chartversus Modern Customer-Oriented Company Organization Chart 1-32 Copyright © 2003 Prentice-Hall, Inc.
  • 33. Company OrientationsToward the Marketplace  Profitability  Sales decline  Slow growth  Changing buying patterns  Increasing competition  Increasing marketing expenditures 1-33 Copyright © 2003 Prentice-Hall, Inc.
  • 34. Company Orientations Toward the Marketplace Figure 1-10: The Customer Concept 1-34 Copyright © 2003 Prentice-Hall, Inc.
  • 35. Company OrientationsToward the Marketplace  Societal Marketing Concept  Cause-related marketing 1-35 Copyright © 2003 Prentice-Hall, Inc.
  • 36. Can you identify the trends that havemade the marketing concept, thecustomer concept, and the societalmarketing concept more attractivemodels for contemporarymarketing managers? 1-36 Copyright © 2003 Prentice-Hall, Inc.
  • 37. How Business andMarketing are Changing  Customers  Brand manufacturers  Store-based retailers 1-37 Copyright © 2003 Prentice-Hall, Inc.
  • 38. How Business and Marketing are Changing Company responses and adjustments  Reengineering  Partner-suppliers  Outsourcing  Market-centered  E-commerce  Global and local  Benchmarking  Decentralized  Alliances 1-38 Copyright © 2003 Prentice-Hall, Inc.
  • 39. How Business and Marketing are Changing Marketer Responses and Adjustments  Customer relationship  Integrated marketing marketing communications  Customer lifetime value  Channels as partners  Customer share  Every employee a  Target marketing marketer  Customization  Model-based decision  Customer database making 1-39 Copyright © 2003 Prentice-Hall, Inc.