Sample Top Ten Ch1 Mktg In The 21st Century

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Top Ten Concepts on Marketing in the 21st Century for use in the AGSB MBA class of Prof. Remigio De Ungria

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Sample Top Ten Ch1 Mktg In The 21st Century

  1. 1. DEFINING MARKETING for the 21 st CENTURY Prof. Bong De Ungria Ateneo Graduate School of Business www.josephdeungria.com Top 10 Concepts
  2. 2. <ul><li>How do you eat an elephant? </li></ul><ul><ul><li>Piece by Piece </li></ul></ul><ul><li>How do you learn marketing concepts? </li></ul><ul><ul><li>1 Concept at a time </li></ul></ul><ul><li>Focusing on learning Top 10 concepts per chapter in Kotler’s book works! </li></ul><ul><ul><li>Prof. Bong De Ungria, AGSB, 2009 </li></ul></ul>Professor’s Note: Why Top 10 only?
  3. 3. Outline: 21 st century marketing is… <ul><li>Important to business success (why?) </li></ul><ul><li>Meeting needs profitably (what?) </li></ul><ul><li>Used for 10 entities (for what?) </li></ul><ul><li>Involves everybody (who?) </li></ul><ul><li>Changing </li></ul>
  4. 4. Outline: 21 st century Marketing… <ul><li>Understands and meets needs </li></ul><ul><li>Manages Demand </li></ul><ul><li>SToP with Brands </li></ul><ul><li>Is Holistic </li></ul><ul><li>Involves 7 Tasks </li></ul>
  5. 5. Concept 1: Marketing is important for business success <ul><li>Delivers top-line growth (revenue) </li></ul><ul><li>Customer retention/ loyalty </li></ul>
  6. 6. <ul><li>Set of processes that </li></ul><ul><li>Create </li></ul><ul><li>Promote </li></ul><ul><li>Deliver </li></ul><ul><li>VALUE </li></ul><ul><ul><li>Goods and services </li></ul></ul><ul><ul><li>To consumers & businesses </li></ul></ul>Concept 2: Meet Needs Profitably!
  7. 7. <ul><li>Goods </li></ul><ul><li>Services </li></ul><ul><li>Experiences & Events </li></ul><ul><li>Persons </li></ul><ul><li>Places </li></ul><ul><li>Properties </li></ul><ul><li>Organizations </li></ul><ul><li>Information & Ideas </li></ul>Concept 3: Everything is Marketed!
  8. 8. <ul><li>Marketing </li></ul><ul><li>Sales </li></ul><ul><li>Finance & Acctg </li></ul><ul><li>HR </li></ul><ul><li>Operations </li></ul>Concept 4: Involves every employee
  9. 9. <ul><li>Globalization </li></ul><ul><li>Technology </li></ul><ul><li>Deregulation </li></ul><ul><li>Privatization </li></ul><ul><li>More Competition </li></ul><ul><li>Industry Convergence </li></ul><ul><li>Consumer resistance </li></ul><ul><li>Retail Transformation </li></ul>Concept 5: Marketing is Changing: 8 Societal Forces
  10. 10. <ul><li>Globalization </li></ul><ul><li>Technology </li></ul><ul><li>Deregulation </li></ul><ul><li>Privatization </li></ul><ul><li>More Competition </li></ul><ul><li>Industry Convergence </li></ul><ul><li>Consumer resistance </li></ul><ul><li>Retail Transformation </li></ul>Concept 5: Marketing is Changing: 8 Societal Forces <ul><li>Political Boundaries </li></ul><ul><li>Obsolete </li></ul><ul><li>Rules </li></ul><ul><li>Government </li></ul><ul><li>Monopolies </li></ul><ul><li>Dinosaurs </li></ul><ul><li>Boring </li></ul><ul><li>Traditiona; </li></ul>
  11. 11. <ul><li>Buying Power </li></ul><ul><li>Choices </li></ul><ul><li>Information </li></ul><ul><li>Voice </li></ul><ul><li>EASIER </li></ul><ul><li>Ordering </li></ul><ul><li>Comparison </li></ul>Concept 5: Marketing is Changing: 6 Consumer Capabilities KING Consumer INCREASED
  12. 12. <ul><li>Internet </li></ul><ul><ul><li>Sales Channel </li></ul></ul><ul><ul><li>Research </li></ul></ul><ul><ul><li>On and Off-line buzz </li></ul></ul><ul><ul><li>Blogs </li></ul></ul><ul><ul><li>Purchasing savings </li></ul></ul><ul><li>Niche magazines </li></ul><ul><li>Mobile </li></ul>Concept 5: Marketing is Changing: 7 Company Capabilities
  13. 13. <ul><li>Needs= Basic human requirements </li></ul><ul><li>Feel deprived if not met </li></ul>Concept 6: Understand and meet NEEDS <ul><li>5 types: </li></ul><ul><li>Stated </li></ul><ul><li>Unstated </li></ul><ul><li>Real </li></ul><ul><li>Delight </li></ul><ul><li>Secret </li></ul>Maslow’s Hierarchy
  14. 14. <ul><li>Want= Choices for satisfying Needs </li></ul><ul><li>Demand= Want with capacity to buy </li></ul>Concept 7: Marketing Manages DEMANDS WANTS DEMANDS NEEDS
  15. 15. www.josephdeungria.com Concept 8: ST P: Segment (groups with similar needs, wants, demands)…
  16. 16. www.josephdeungria.com Concept 8: ST P: … Target (Choose!)
  17. 17. www.josephdeungria.com Concept 8: ST P: … … Position (with Benefits) Product Promo Price Place
  18. 18. www.josephdeungria.com Concept 8: ST P: Unique Position in Consumer Minds that meets needs BRANDS BENEFITS Product Promo Price Place
  19. 19. <ul><li>Holistic marketing covers </li></ul><ul><li>Relationships (long term with customers) </li></ul><ul><li>Integrated (4Ps) </li></ul><ul><li>Internal (everybody) </li></ul><ul><li>Performance </li></ul>www.josephdeungria.com Concept 9: Everything matters!
  20. 20. <ul><li>Develop Strategic Plans </li></ul><ul><li>Capture Market Insights </li></ul><ul><li>Connect with Customers </li></ul><ul><li>Build Strong Brands </li></ul><ul><li>Shape Market Offerings </li></ul><ul><li>Deliver & Communicate Value </li></ul><ul><li>Capture Long Term Growth </li></ul>www.josephdeungria.com Concept 10: 7 Tasks for Marketing
  21. 21. Starts- ends differently for each concept Ultimate: include society as customer !
  22. 22. Summary: 21 st century marketing is… <ul><li>Important </li></ul><ul><li>Meeting needs profitably </li></ul><ul><li>Used for everything </li></ul><ul><li>Involves everybody (who?) </li></ul><ul><li>Changing </li></ul>
  23. 23. Outline: 21 st century Marketing… <ul><li>Understands changing needs </li></ul><ul><li>Manages Demand </li></ul><ul><li>SToP with Brands </li></ul><ul><li>Is Holistic </li></ul><ul><li>Involves 7 Tasks </li></ul>
  24. 24. My Conclusion: 21 st century marketing <ul><li>To be successful today requires </li></ul><ul><li>less of luck </li></ul><ul><li>Less of magic </li></ul><ul><li>and more of marketing. </li></ul>
  25. 25. DEFINING MARKETING for the 21 st CENTURY Prof. Bong De Ungria Ateneo Graduate School of Business www.josephdeungria.com Top 10 Concepts

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