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- 4. Group Member • SumaiyaAkhter. • Jafrin Akter. • Muhammad Hasibur Rahaman. • Md. Mahabub Hasan.
- 5. Presentation On Defining Marketing forthe 21st Century
- 6. Discussion Questions 1.Why ismarketing important? 2.What is the scope of marketing? 3.What are some fundamental marketing concepts? 4.How has marketing management changed in recent years? 5.What are the task necessary for successful marketing management?
- 7. Why is marketingimportant?
- 8. Why is marketingimportant? Marketing is playing a key role in addressing the 21st century challenged that firm to prosper financially and even survive in the face of an unforgiving economic environment. Financial success often depends on marketing ability. Finance, operations, accounting, and other business functions won’t really matter without sufficient demand for products and services so the firm can make a profit. Marketing has helped introduce and gain acceptance of new products that have eased or enriched people’s lives. Successful marketing builds demand for products and services, which, in turn, creates jobs. Successful marketing also allows firms to more fully engage in socially responsible activities.
- 9. What is thescope of marketing?
- 10. What is thescope of marketing? What Is Marketing? What Is Marketing Management? What Is Marketed? Who Markets?
- 11. What Is Marketing? Marketingis 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.
- 12. What Is MarketingManagement? 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. What Is Marketing Management?
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- 24. Who Markets? Marketers AndProspects Markets Key Customer Markets Marketplaces, Market spaces And Metamarkets
- 25. Marketers And Prospects MarketerProspect Attention Purchase Donation Vote Response
- 26. Marketers And Prospects Negativedemand Consumers dislike the product and may even pay to avoid it. Nonexistent demand Consumers may be unaware of or uninterested in the product. Latent demand Consumers may share a strong need that cannot be satisfied by an existing product. Declining demand Consumers begin to buy the product less frequently or not at all. Types of Demand
- 27. Marketers And Prospects Irregulardemand Consumer purchases vary on a seasonal, monthly, weekly, daily, or even hourly basis. Full demand Consumers are adequately buying all products put into the marketplace. Overfull demand More consumers would like to buy the product than can be satisfied Unwholesome demand Consumers may be attracted to products that have undesirable social consequences.
- 28. Five basic marketsand their connecting flows
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- 30. Key Customer Markets ConsumerMarket Consumer Market The aim of buying is to consume for their own or somebody who has something to do with in consumer market. Business Market Business buyers buy goods for their utility in enabling them to make or resell a product to others for the purpose of making profits. Business Markets
- 31. Key Customer Markets GlobalMarkets Companies selling their goods and services in the global marketplace face additional decisions and challenges. Government Market Companies selling their goods to nonprofit organizations such as churches, universities, charitable organizations, or government agencies. Global Markets Government Market
- 32. Marketplaces, Market spacesAnd Metamarkets Marketplaces Marketplace is physical, as when one goes shopping in a store Marketspace Marketspace is digital, as when someone shopping on the internet. Marketplaces Marketspaces
- 33. Marketplaces, Market spacesAnd Metamarkets Metamarkets Cluster of complementary products and services closely related in the minds of consumers, but spread across a diverse set of industries. Metamarkets
- 34. What are theFundamental Marketing Concepts?
- 35. Needs, Wants &Demand Segmentation, Targeting & Positioning Offering & Branding Value & satisfaction Marketing channel Competition Core Marketing Concepts
- 36. Needs, Wants &Demand Needs − Are states of felt deprivation
- 37. Needs, Wants &Demand Wants − are choices choosed by individual.
- 38. Needs, Wants &Demand So want is totally different from need
- 39. Needs, Wants &Demand Want Money Demand=+ Creation of Demand
- 40. Needs, Wants &Demand Need want demand
- 41. Segmentation, Targeting &Positioning
- 42. Segmentation, Targeting &Positioning Target Markets
- 43. Segmentation, Targeting &Positioning Differentiation
- 44. Segmentation, Targeting &Positioning Yes!!! I’m different from others.
- 45. Segmentation, Targeting &Positioning Position Now It’s Mine.
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- 50. How has marketingmanagement changed in recent years?
- 51. Company Orientation Towardthe Marketplace Production concept Product concept Selling concept Marketing Concept Holistic Marketing Concept
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- 53. Product concept Offer thebest quality
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- 62. What are thetask necessary for successful marketing management?
- 63. Marketing Management Tasks Developmarket strategies and plans Capture marketing insights Connect with customers Build strong brands Shape market offerings Deliver value Communicate value Create long-term growth
- 64. Develop market strategiesand plans Creative strategies and plans that can guide marketing activities. Right marketing strategy is a blend of discipline and flexibility. Firms must stick to a strategy but also constantly improve it. Develop strategies for a range of products and services within the organization.
- 65. Capture marketing insights CollectingInformation and Forecasting Demand Conducting Marketing Research
- 66. Connect with customers CreatingLong-term Loyalty Relationships Analyzing Consumer Markets Analyzing Business Markets Identifying Market Segments and Targets
- 67. Build strong brands CreatingBrand Equity Crafting the Brand Positioning Competitive Dynamics
- 68. Shape market offerings SettingProduct Strategy Designing and Managing Services Developing Pricing Strategies and Programs
- 69. Deliver value Designing andManaging Integrated Marketing Channels Managing Retailing, Wholesaling, and Logistics
- 70. Communicate value Designing andManaging Integrated Marketing Communications Managing Mass Communications Managing Personal Communications
- 71. Create long-term growth IntroducingNew Market Offerings Tapping into Global Markets Managing a Holistic Marketing Organization for the Long Run.
Editor's Notes
- #26 Marketers are individuals, groups, associations, companies, etc. that seek a response, such as attention, a purchase, donation, vote, etc., from another party which is called the prospect.
- #27 Marketers are skilled at stimulating demand for their products. They seek to influence the level, timing, and composition of demand to meet the organization’s objectives. Eight demand states are possible:
- #28 Marketers are skilled at stimulating demand for their products. They seek to influence the level, timing, and composition of demand to meet the organization’s objectives. Eight demand states are possible:
- #29 Manufacturers go to resource markets (raw material markets, labor markets, money markets), buy resources and turn them into goods and services, and sell finished products to intermediaries, who sell them to consumers. Consumers sell their labor and receive money with which they pay for goods and services. The government collects tax revenues to buy goods from resource, manufacturer, and intermediary markets and uses these goods and services to provide public services. Each nation’s economy, and the global economy, consists of interacting sets of markets linked through exchange processes.
- #30 Figure shows the relationship between the industry and the market. Sellers and buyers are connected by four flows. Sellers send goods and services and communications such as ads and direct mail to the market; in return they receive money and information such as customer attitudes and sales data. The inner loop shows an exchange of money for goods and services; the outer loop shows an exchange of information.