chapter 1 marketing concept

8/6/2019 Chapter 1 Marketing Concept

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MARKETING MANAGEMENT

1Defining

Marketingfor the

21 st Century

Kotler Keller


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Chapter Qu estions

Why is marketing important? What is the scope of marketing?

What are so me of the f unda mental marketing concepts? How has marketing manage ment

changed? What are the tasks necessary for s uccessf ul marketing manage ment?


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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 relationshipsin ways that benefit theorganization and its stakeholders.


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Marketing is a social and managerial process by which individ uals and gro ups obtain what they need and what they want thro ugh creating, offering, and exchanging prod ucts of val ue with others (K otler and

Armstrong, 2003) .


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AMA American Marketing Association(08/2004): Marketing is an organizational f unction and a set of processes for creating, co mmu nicating, and delivering val ue to custo mers and for managing custo mer relationships in ways that benefit

the organization and its stakeholders .


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What is Marketing Manage ment?

Marketing management is thea rt and scie n ce

of choosing target marketsand getting, keeping, and growing

customers throughcreating, delivering, and communicatingsuperior customer value.


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It is important to disting uish between a social and managerial definition of m arketing .

Social definition: marketing is a societal process

by which individ uals and gro ups obtain what they need and what they want thro ugh creating, offering, and exchanging prod ucts of val ue with others .

Managerial definition: the art of selling prod uctsThe m ost important part of marketing is not selling .


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Selling is only the tip of the ice berg

There will always be need for

some selling. But the aim of marketing is to make selling superfluous. The aimof 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


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For an exchange to occ ur ..

For an exchange to occ ur .. T here are at least two parties .Each party has so mething that might be of

val ue to the other party .Each party is capa ble of co mmu nication and delivery .Each party is free to reject the exchange offer .Each party believes it is appropriate or desira ble to deal with the other party .


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What is Marketed?

Goods

Services

Events & ExperiencesPersons

Places & Properties

Organizations

Infor mation

Ideas


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Marketing Ideas:Friends Dont Let Friends Drive Dr unk

This is the watchStephen Hollingshead, Jr.was wearing when he

encountered a drunk driver.Time of death 6:55 p.m.


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De mand States

Nonexistent Latent

Declining Irreg ular

Full Unwholeso meOverf ull

Negative


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Fig ure 1.1 Str ucture of Flows in a Modern Exchange Econo my


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Fig ure 1.2 A Simple Marketing Syste m


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Key Custo mer Markets

Cons um er Markets

Business Markets

Global Markets

Nonprofit/ Govern ment

Markets


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The marketplace isnt what it used to be

Changing technology

Globalization

Dereg ulationPrivatization

Em power ment

Custo mization

Convergence

Disinter mediation


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Co mpany Orientations

Prod uction

Selling Marketing

Prod uct


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Fig ure 1.3 Holistic Marketing Dimensions


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Fig ure 1.4 The Fo ur Ps


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Fig ure 1.5 Marketing- Mix Strategy


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Marketing Mix and the Custo mer

Fo ur Ps Product

Price Place Promotion

Fo ur Cs Custo mer sol ution

Custo mer cost Convenience Commu nication


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Core Concepts

Needs, wants, and de m ands

Target markets, positioning, seg mentation

Offerings and brands Value and satisfaction

Marketing channels Supply chain

CompetitionMarketing environ ment

Marketing planning


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Fig ure 1.6 Factors Influencing Marketing Strategy


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Marketing Manage ment Tasks

Developing marketing strategies

Capturing marketing insights Connecting with custo mers

Building strong brands

Shaping market offerings

Delivering val ue Commu nicating val ue

Creating long-ter m

growth


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Marketing De bate

Does Marketing Create or Satisfy Needs?


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Marketing Disc ussion

Are there any the mes that

e merge in the broad shiftsin marketing? Can they berelated to the major societal

forces? Expand .


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Case St udy (1)

chapter 1 marketing concept

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