The document defines marketing as creating, communicating, and delivering value to customers to benefit an organization. Marketing management is choosing target markets and growing customers through superior value. The document then discusses fundamental marketing concepts like the marketing mix, segmentation, brands and discusses the importance of marketing, its scope, and tasks of marketing management like developing strategies, connecting with customers and creating long term growth.

1. 1
Defining Marketing
for the 21st Century
1

2. What is Marketing?
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-2
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.

3. What is Marketing Management?
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-3
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.

4. Chapter Questions
 Why is marketing important?
 What is the scope of marketing?
 What are some fundamental marketing
concepts?
 What are the tasks necessary for successful
marketing management?
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-4

5. Why is marketing important?
• Customer’s satisfaction
• Competitive advantage
• Brand’s image
• Market growth
• Profitability
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-5

6. What is the scope of marketing?
• (Study) needs and wants
• Consumer’s behavior
• Planning, production and development
• Pricing policy
• Customer’s satisfaction
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-6

7. What is Marketed?
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-7
• Places
• Properties
• Organizations
• Information
• Ideas

8. What is Marketed?
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-8
• Goods
• Services
• Events
• Experiences
• Persons

9. What are some fundamental
marketing concepts?
• Production concept
• Product concept
• Selling concept
• Marketing concept
• Societal concept
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-9

10. What are the tasks necessary for
successful marketing
management?
• Developing marketing strategy and plans
• Connecting with customers
• Building strong brands
• Delivering values
• Creating long term growth
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-10

11. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-11
Demand States
 Negative
 Nonexistent
 Latent
 Declining
 Irregular
 Unwholesome
 Full
 Overfull

12. Figure 1.1 Structure of Flows in
Modern Exchange Economy
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-12

13. Figure 1.2
A Simple Marketing System
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-13

14. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-14
Key Customer Markets
 Consumer markets
 Business markets
 Global markets
 Nonprofit/Government markets

15. Core Concepts
 Needs, wants, and
demands
 Target markets,
positioning,
segmentation
 Offerings and
brands
 Value and
satisfaction
 Marketing channels
 Supply chain
 Competition
 Marketing
environment
 Marketing planning
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-15

16. Types of Needs
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-16
Stated
Real
Unstated
Delight
Secret

17. Target Markets,
Positioning & Segmentation
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-17

18. Offerings and Brands
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-18

19. Value and Satisfaction
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-19

20. Marketing Channels
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-20
Communication
Distribution
Service

21. Marketing Environment
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-21
Demographic Economic
Socio-cultural
Natural
Technological
Political-legal

22. Major Societal Forces
 Network information
technology
 Globalization
 Deregulation
 Privatization
 Heightened competition
 Industry convergence
 Retail transformation
 Disintermediation
 Consumer buying power
 Consumer participation
 Consumer resistance
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-22

23. Company Orientations
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-23
Production
Product
Selling
Marketing

24. Holistic Marketing
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-24

25. Relationship Marketing
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-25
Customers
Employees
Marketing Partners
Financial Community

26. Integrated Marketing
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-26

27. Internal Marketing
Internal marketing is the task of
hiring, training, and motivating able employees
who want to serve customers well.
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-27

28. Performance Marketing
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-28
Financial
Accountability
Social Responsibility
Marketing

29. Types of
Corporate Social Initiatives
 Corporate social marketing
 Cause marketing
 Cause-related marketing
 Corporate philanthropy
 Corporate community involvement
 Socially responsible business practices
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-29

30. The Marketing Mix
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-30

31. The New Four Ps
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-31
Processes
People
Programs
Performance

32. 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
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-32

33. For Review
 Why is marketing important?
 What is the scope of marketing?
 What are some fundamental marketing
concepts?
 How has marketing management changed?
 What are the tasks necessary for successful
marketing management?
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-33