This document discusses the key concepts and tasks of marketing. It defines marketing and examines its importance and scope. Some fundamental concepts discussed include needs and wants, segmentation, branding, and the marketing mix of product, price, place and promotion. The document also explores how marketing has changed with trends like globalization, technology and empowered consumers. It outlines the main tasks for successful marketing as developing strategies, understanding customers, building brands, and communicating value to create long-term growth.

1. 1
Defining Marketing
for the 21st Century
Marketing Management
A South Asian Perspective, 13th ed

2. Chapter Questions
• Why is marketing important?
• What is the scope of marketing?
• What are some fundamental marketing
concepts?
• How has marketing changed?
• What are the tasks necessary for
successful marketing?
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3. Good Marketing is No Accident
The roaring success
of four-wheeler Tata
Ace, in a market
earlier dominated by
three-wheeler load
carriers, was due to a
deep understanding
of the market needs
and customer
requirements.
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4. Selling is only the tip of the iceberg
“There will always be a need for
some selling. But the aim of marketing
is to make selling superfluous. The aim
of marketing is to know and understand
the customer so well that the product or
service fits him and sells itself. Ideally,
marketing should result in a customer
who is ready to buy. All that should be
needed is to make the product or
service available.”
Peter Drucker
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5. What is Marketed?
Goods
Goods
Services
Services
Events & Experiences
Events & Experiences
Persons
Persons
Places & Properties
Places & Properties
Organizations
Organizations
Information
Information
Ideas
Ideas
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6. Figure 1.2 A Simple Marketing System
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7. Key Customer Markets
Consumer Markets
Business Markets
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Global Markets
Nonprofit/ Government Markets
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8. Core Marketing Concepts
• Needs, wants, and
demands
• Target markets,
positioning,
segmentation
• Offerings and
brands
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• Value and
satisfaction
• Marketing channels
• Supply chain
• Competition
• Marketing
environment
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9. Positioning
Press ads of the
Scorpio focused on
the functional
features of the
vehicle and the
television ads
focused on emotional
benefits.
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10. The marketplace isn’t what it used to be…
Information technology
Information technology
Globalization
Globalization
Deregulation
Deregulation
Privatization
Privatization
Competition
Competition
Convergence
Convergence
Consumer resistance
Consumer resistance
Retail transformation
Retail transformation
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11. New Consumer Capabilities
• A substantial increase in buying power
• A greater variety of available goods and
services
• A great amount of information about
practically anything
• Greater ease in interacting and placing and
receiving orders
• An ability to compare notes on products and
services
• An amplified voice to influence public opinion
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12. Figure 1.4 Holistic Marketing Dimensions
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13. Figure 1.5 The Four P’s
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14. 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
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15. Marketing Debate:
Take a Position!
Does marketing shape consumer needs?
or
Does marketing merely reflect the needs
and wants of consumers?
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