Defining Market for 21st Century by Kotler

2. OVERVIEW:
• What is Marketing?
• What is Marketed?
• Who Markets?

4. American Marketing Association defines:
“Marketing is a activity, set of institutions, and
process of creating, communicating, delivering,
and exchanging offering that have value for
customers, clients, partners, and society at large.”

5. Social Definition:
“Marketing is a societal process by which
individuals and groups obtain what they need
and want by creating, offering, and freely
exchanging products and services of value with
others.”

6. Managerial Definition:
“Defined as the aim to know and understand
customers so well that the product or service fits
in and sells itself. Ideally, results in a customer
who is ready to buy.”

7. Simply defined as,
“Identifying and meeting needs profitably”

9. 1.Goods
Physical Goods, Cars, trucks, TV sets, machine tools, cosmetics…..

10. 2.Services
Hotels, Car rentals, Software programmers, management consultants, bankers, lawyers….

11. 3. Events
Artistic performances, company anniversaries, Sporting events

12. 4. Experiences
Amusement park, theme based restaurants

13. 5. Persons
Celebrities- Artists, musicians, CEOs, physicians, financers

14. 6.Places
Tourism, real estate agents, local business associations

15. 7.Properties
Real estate, stocks, bonds

16. 8. Organisations

17. 9. Information
Production, packing and distribution of Information

18. 10. Ideas

20. Marketer and Prospects
A marketer is someone who seeks
a response- attention, a vote, a
purchase, a donation from other
party called prospect.
Marketer is responsible for
Demand Management, skilled at
stimulating demands for products.

21. Markets
Market is a
collection of
buyers and sellers
who transact over
particular product
or product class.

22. Structure of Flows in a Modern Exchange
Economy

23. A simple Marketing System

24. Key Customer Markets
Consumer Markets
Companies selling mass consumer goods and
services
Business Markets
Companies selling business goods and
services
Non profit and
Government Markets
Companies selling to Non Profit organisations
Global Markets
Companies in global marketplace

25. Marketplace, Marketspace,
MetaMarket
MetaMarket:
MetaMarket is a cluster of complementary
products and services closely related in minds of
consumers, but spread across a diverse set of
Industries

26. Marketplace:
The marketplace is physical, such as a store you
shop in

27. Marketspace:
The marketspace is digital, as when you shop
in Internet

28. Interested to know more, Refer
Available in All Leading
Stores,
A South Asian Prospective
Marketing Management
14th Edition, Philip Kotler

29. Credits:
• iStockPhoto.com for professional Pics.
• Photobucket.com for Marketing Child Example Image.
• Colorlovers.com for Colour Scheming.
• Images.Google.com for Advertisements Imagesand Brand Images and also Indian
local image base.
• A South Asian Perspective to Marketing Management 14th Edition Book by Kotler,
Chapter 1: Defining Marketing for 21st Century.
A Shashank Motepalli Presentation
Thanks