3. www.josephdeungria.com
Outline:
21st century marketing is…
1. Important to business success (why?)
2. Used for everything (for what?, scope)
3. Everyone’s responsibility (who?)
4. Basic (what are core concepts?)
5. Changing
6. Accomplishing 7 Tasks
4. www.josephdeungria.com
21st Century Marketing Concept 1:
Marketing is important for
business success
• Delivers top-line growth (revenue)
• Customer retention/ loyalty
communicating and
creating,
delivering value to
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Food example
To understand Needs, Wants & Demands.
Need Basic necessity
Feel deprived if this is
absent
Food
Want Given choices, this is
what you prefer
Chicken,
Burger, Steak
dinner
Demand A want that is supported
by a decision and
capacity to buy
Only burger
is within my
budget!
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1. Globalization
2. Technology
3. Deregulation
4. Privatization
5. More Competition
6. Industry Convergence
7. Consumer resistance
8. Retail Transformation
21st Century Marketing Difference 1:
Competition increased due to
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1. Globalization
2. Technology
3. Deregulation
4. Privatization
5. More Competition
6. Industry Convergence
7. Consumer resistance
8. Retail Transformation
The Following changed
or disappeared:
Economic Boundaries
Brick and Mortar
Business Rules
Monopolies & Dinosaurs
Way of Doing Business
21st Century Marketing Difference 1:
Competitive Rules changed!
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1. Buying Power
2. Choices
3. Information
4. Voice
EASIER
5. Ordering
6. Comparison
Customer is
King!
INCREASED
21st Century Marketing Difference 1:
Customers are more powerful
and demanding
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1. Internet
1. Social Media
2. Sales Channel
3. Research
4. On and Off-line buzz
5. Blogs
6. Purchasing savings
2. Niche magazines
3. Mobile
21st Century Marketing Difference 3:
Companies must use more
capabilities too!
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Must cover:
1. CONNCECTED Customers (develop long term
relationships)
2. Company (internal customers, employees, 4Ps)
3. Competition (performance)
21st Century Marketing Difference 4:
Marketing has to be HOLISTIC
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Outline:
21st century marketing is…
1. Important to business success (why?)
2. Used for everything (for what?, scope)
3. Everyone’s responsibility (who?)
4. Basic (what are core concepts?)
5. Changing
6. Accomplishing 7 Tasks