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  • 1. 1 Defining Marketing for the 21st Century 1
  • 2. Chapter Questions  Why is marketing important?  What is the scope of marketing?  What are some fundamental marketing concepts?  How has marketing management changed?  What are the tasks necessary for successful marketing management? Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-2
  • 3. What is Marketing? Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-3 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.
  • 4. What is Marketing Management? Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-4 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.
  • 5. What is Marketed? Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-5 • Goods • Services • Events • Experiences • Persons
  • 6. What is Marketed? Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-6 • Places • Properties • Organizations • Information • Ideas
  • 7. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-7 Demand States  Negative  Nonexistent  Latent  Declining  Irregular  Unwholesome  Full  Overfull
  • 8. Figure 1.1 Structure of Flows in Modern Exchange Economy Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-8
  • 9. Figure 1.2 A Simple Marketing System Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-9
  • 10. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-10 Key Customer Markets  Consumer markets  Business markets  Global markets  Nonprofit/Government markets
  • 11. 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 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-11
  • 12. Types of Needs Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-12 Stated Real Unstated Delight Secret
  • 13. Target Markets, Positioning & Segmentation Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-13
  • 14. Offerings and Brands Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-14
  • 15. Value and Satisfaction Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-15
  • 16. Marketing Channels Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-16 Communication Distribution Service
  • 17. Marketing Environment Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-17 Demographic Economic Socio-cultural NaturalTechnological Political-legal
  • 18. Major Societal Forces  Network information technology  Globalization  Deregulation  Privatization  Heightened competition  Industry convergence  Retail transformation  Disintermediation  Consumer buying power  Consumer participation  Consumer resistance Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-18
  • 19. Company Orientations Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-19 Production Product Selling Marketing
  • 20. Holistic Marketing Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-20
  • 21. Relationship Marketing Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-21 Customers Employees Marketing Partners Financial Community
  • 22. Integrated Marketing Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-22
  • 23. Internal Marketing Internal marketing is the task of hiring, training, and motivating able employees who want to serve customers well. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-23
  • 24. Performance Marketing Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-24 Financial Accountability Social Responsibility Marketing
  • 25. Types of Corporate Social Initiatives  Corporate social marketing  Cause marketing  Cause-related marketing  Corporate philanthropy  Corporate community involvement  Socially responsible business practices Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-25
  • 26. The Marketing Mix Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-26
  • 27. The New Four Ps Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-27 Processes People Programs Performance
  • 28. 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 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-28
  • 29. For Review  Why is marketing important?  What is the scope of marketing?  What are some fundamental marketing concepts?  How has marketing management changed?  What are the tasks necessary for successful marketing management? Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-29