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  1. 1. Marketing Management, 12/e A South Asian Perspective 1 Defining Marketing for the 21 st Century Kotler Koshy Keller Jha
  2. 2. Chapter Questions <ul><li>Why is marketing important? </li></ul><ul><li>What is the scope of marketing? </li></ul><ul><li>What are some fundamental marketing concepts? </li></ul><ul><li>How has marketing management changed? </li></ul><ul><li>What are the tasks necessary for successful marketing management? </li></ul>
  3. 3. 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.
  4. 4. 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.
  5. 5. For an exchange to occur….. <ul><li>There are at least two parties. </li></ul><ul><li>Each party has something that might be of value to the other party. </li></ul><ul><li>Each party is capable of communication and delivery. </li></ul><ul><li>Each party is free to reject the exchange offer. </li></ul><ul><li>Each party believes it is appropriate or desirable to deal with the other party. </li></ul>
  6. 6. What is Marketed? <ul><li>Goods </li></ul><ul><li>Services </li></ul><ul><li>Events </li></ul><ul><li>Experiences </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 </li></ul><ul><li>Ideas </li></ul>
  7. 7. Demand States <ul><li>Negative </li></ul><ul><li>Nonexistent </li></ul><ul><li>Latent </li></ul><ul><li>Declining </li></ul><ul><li>Irregular </li></ul><ul><li>Unwholesome </li></ul><ul><li>Full </li></ul><ul><li>Overfull </li></ul>
  8. 8. Key Customer Markets <ul><li>Consumer markets </li></ul><ul><li>Business markets </li></ul><ul><li>Global markets </li></ul><ul><li>Nonprofit/Government markets </li></ul>
  9. 9. The marketplace isn’t what it used to be…. <ul><li>Changing technology </li></ul><ul><li>Globalization </li></ul><ul><li>Deregulation </li></ul><ul><li>Privatization </li></ul><ul><li>Empowerment </li></ul><ul><li>Customization </li></ul><ul><li>Convergence </li></ul><ul><li>Disintermediation </li></ul>
  10. 10. Company Orientations <ul><li>Production </li></ul><ul><li>Product </li></ul><ul><li>Selling </li></ul><ul><li>Marketing </li></ul>
  11. 11. Marketing Mix and the Customer <ul><li>Four Ps </li></ul><ul><li>Product </li></ul><ul><li>Price </li></ul><ul><li>Place </li></ul><ul><li>Promotion </li></ul><ul><li>Four Cs </li></ul><ul><li>Customer solution </li></ul><ul><li>Customer cost </li></ul><ul><li>Convenience </li></ul><ul><li>Communication </li></ul>
  12. 12. Core Concepts <ul><li>Needs, wants, and demands </li></ul><ul><li>Target markets, positioning, segmentation </li></ul><ul><li>Offerings and brands </li></ul><ul><li>Value and satisfaction </li></ul><ul><li>Marketing channels </li></ul><ul><li>Supply chain </li></ul><ul><li>Competition </li></ul><ul><li>Marketing environment </li></ul><ul><li>Marketing planning </li></ul>
  13. 13. I want it, I need it….. <ul><li>5 Types of Needs </li></ul><ul><li>Stated needs </li></ul><ul><li>Real needs </li></ul><ul><li>Unstated needs </li></ul><ul><li>Delight needs </li></ul><ul><li>Secret needs </li></ul>
  14. 14. Marketing Management Tasks <ul><li>Developing marketing strategies </li></ul><ul><li>Capturing marketing insights </li></ul><ul><li>Connecting with customers </li></ul><ul><li>Building strong brands </li></ul><ul><li>Shaping market offerings </li></ul><ul><li>Delivering value </li></ul><ul><li>Communicating value </li></ul><ul><li>Creating long-term growth </li></ul>