This document provides an overview and summary of key concepts from the first two chapters on marketing. It defines marketing as creating and delivering value for customers and partners. The main concepts discussed are needs, wants and demands, and how marketers must target, segment and position the market. It also discusses the changing realities of globalization and new technologies. Modern marketing approaches like relationship marketing and the marketing mix of 4Ps are introduced. The second chapter summary outlines the strategic planning process for developing marketing strategies, including SWOT analysis, setting goals, developing strategies, implementing programs, and getting feedback. The importance of research and relationships with customers and suppliers is also highlighted.

1. 1ST
CHAPTER SUMMARY
DEFINING MARKETING FOR THE 21ST
CENTURY
Marketing--for a layman it’s just a ‘art of selling’ but what is marketing actually is “all the
activities that need to process for creating, delivering and offering value to the
customers and to the partners & suppliers also”. And when it comes to marketing
management, it is defined as “to control all the activities that need to create value for
all”.
There are some basic concepts about marketing like who’s marketer (the one who
seeks response), whom they market (to the prospect), what they market (10 main types
are given) and where they sell (into market where you can go to shop). There’s also a
term used for online shopping called ‘market space’.
Then there are three main core marketing concepts: needs, wants and demands. A
marketer has to identify these three to facilitate the customers by targeting, segmenting
and positioning the market to deliver the value that help to satisfy and retain their
customers. A marketer has to keep in mind the competition and must analyze the
marketing environment.
Now the new marketing realities, where everything is keep changing. The globalization
is now trending in the market where markets integrated in the global economy, where
there’s a high competition, revolution of new technology even the market channels also
are different to promote their products in different ways. Now there’s more focus to build
demand and to gain feedback.
Now the new company capabilities what should they do best for their customers and
how.
Then comes to company orientation towards marketplace, introduced early marketing
ideas like production concept (those products that addresses customers’ basic needs),
product concept (in which customer is more keen in quality and price), selling concept
(those products that aren’t usually buy, but make people to buy it), marketing concept
(the key concept that help to achieve the organizational goal) and here comes the
holistic marketing concept (that implement marketing programs).
Relationship marketing to create long term relationships with the customers, suppliers
and to the partners as well. Integrated marketing that believes ‘the whole is better than

2. the parts’. Built various means to communicate to the customers, find various channels
to distribute and services with the products.
Internal marketing that ensures that everybody is doing their job well in organization.
Then performance marketing that focus on how do well the firm is.
Then there is famous marketing mix four Ps price, place, product and promotion with
the updating modern marketing four Ps they are people, processes, programs and
performance.
Then in the end there’s marketing management tasks, what should they need to do to
make strategies, find the ways to choose, design, deliver and communicate value to the
customers.
THE END
2nd
CHAPTER SUMMARY
DEVELOPING MARKETING STRATEGIES
AND PLANS
Despite of traditional view, the experts develop value delivery process through value
chain that creates more customer value by keep in mind the core competencies. Now
there’s value exploration, creation and delivery in holistic marketing.
Here comes the central role and importance of strategic planning in corporations which
defines essential aspects of it like corporate mission, establishing strategies, assigning
resources to each strategy and assessing growth opportunities.
The marketer has to take important decisions like if there’s need to downsize (either the
product/the customer) or if there’s need of diversification, do it.
Then here comes the organizational culture, the way they share their ideas and
experiences that together help to achieve desired goal. They together put imaginative
ideas into action to make innovation.
Then we have step by step process of business unit strategic planning through which
we make effective planning:

3. 1. First we have to make SWOT analysis to monitor external and internal
environment.
2. Then there’s time to make goal.
3. Then to make strategy to achieve that goal.
4. Then transform your strategies into programs to do.
5. Time to implement it.
6. In the end, control the whole and get the feedback to improve.
Then there’s a product planning, how the marketer should make better planning for
the product by using the marketing plan.
There’s role of research how it help marketer to left behind his competitors by getting
the up to date information about everything, like customer’s requirements, their
feedback, the marketing opportunities, threats and much more.
Then there’s role of relationship with the customers and to the suppliers also. How it
help the marketer to stand for a long time in the market by achieving the trust of
both.
In the end, from marketing plan to marketing action; it’s time to put your best plan
into action.
THE END