The document provides an overview of key concepts in marketing management including definitions of marketing and marketing management, the scope of marketing, and fundamental concepts such as the marketing mix. It also discusses how marketing has changed in response to trends like globalization, technology changes, and empowered customers. The tasks of successful marketing management are to develop strategies, connect with customers, build brands, deliver value and communicate value to drive long-term growth.

1. MARKETING MANAGEMENT 12 th edition 1 Defining Marketing for the 21 st Century Kotler Keller

2. Chapter Questions Why is marketing important? What is the scope of marketing? What are some of the fundamental marketing concepts? How has marketing management changed? What are the tasks necessary for successful marketing management?

3. Good Marketing is No Accident Boston Beer Company, maker of Samuel Adams, constantly innovates

4. What is Marketing? 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.

5. What is Marketing Management? 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.

6. Selling is only the tip of the iceberg “ There will always be 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

7. Designing the “Right” Product

8. Only the best is good enough for Lexus customers

9. Obtaining Products

10. For an exchange to occur…. There are at least two parties. Each party has something that might be of value to the other party. Each party is capable of communication and delivery. Each party is free to reject the exchange offer. Each party believes it is appropriate or desirable to deal with the other party.

11. Are both forms of exchange? Transactions Transfers

12. What is Marketed? Goods Services Events & Experiences Persons Places & Properties Organizations Information Ideas

13. Marketing Goods

14. Marketing Ideas: Friends Don’t Let Friends Drive Drunk This is the watch Stephen Hollingshead, Jr. was wearing when he encountered a drunk driver. Time of death 6:55 p.m.

15. Demand States Nonexistent Latent Declining Irregular Full Unwholesome Overfull Negative

16. Figure 1.1 Structure of Flows in a Modern Exchange Economy

17. Figure 1.2 A Simple Marketing System

18. Key Customer Markets Nonprofit/ Government Markets Consumer Markets Business Markets Global Markets

19. Global Markets Coke is represented at the first China International Beverage Festival in Beijing in 2003

20. The marketplace isn’t what it used to be… Changing technology Globalization Deregulation Privatization Empowerment Customization Convergence Disintermediation

21. Company Orientations Production Selling Marketing Product

22. Figure 1.3 Holistic Marketing Dimensions

23. Puma’s rebirth attributed to holistic marketing

24. Figure 1.4 The Four P’s

25. Figure 1.5 Marketing-Mix Strategy

26. Marketing Mix and the Customer Four P’s Product Price Place Promotion Four C’s Customer solution Customer cost Convenience Communication

27. Corporate Social Initiatives

28. Corporate Social Initiatives

29. 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

30. I want it, I need it… 5 Types of Needs Stated needs Real needs Unstated needs Delight needs Secret needs

31. Figure 1.6 Factors Influencing Marketing Strategy

32. Marketing Management Tasks Developing marketing strategies Capturing marketing insights Connecting with customers Building strong brands Shaping market offerings Delivering value Communicating value Creating long-term growth

33. Marketing Debate Does Marketing Create or Satisfy Needs?

34. Marketing Discussion Are there any themes that emerge in the broad shifts in marketing? Can they be related to the major societal forces? Expand.