marketing management 12 th edition 1 defining marketing for the 21 st century kotlerkeller
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MARKETING MANAGEMENT12th edition
1
Defining Marketing
for the 21st Century
Kotler Keller
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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?
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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 relationships in ways that benefit the
organization and its stakeholders.
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What is Marketing Management?
Marketing management is theart and science
of choosing target markets and getting, keeping, and growing
customers throughcreating, delivering, and communicating
superior customer value.
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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.
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What is Marketed?
Goods Services Events Experiences Persons
Places Properties Organizations Information Ideas
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Demand States
Negative Nonexistent Latent Declining
Irregular Unwholesome Full Overfull
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Key Customer Markets
Consumer markets Business markets Global markets Nonprofit/Government markets
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The marketplace isn’t what it used to be….
Changing technology Globalization Deregulation Privatization
Empowerment Customization Convergence Disintermediation
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Company Orientations
Production Product Selling Marketing
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Marketing Mix and the Customer
Four Ps Product Price Place Promotion
Four Cs Customer solution Customer cost Convenience Communication
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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
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I want it, I need it…..
5 Types of Needs
Stated needs Real needs
Unstated needs Delight needs Secret needs
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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
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MARKETING MANAGEMENT12th edition
2 Developing Marketing
Strategies and Plans
Kotler Keller
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Chapter Questions
How does marketing affect customer value?
How is strategic planning carried out at different levels of the organization?
What does a marketing plan include?
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Improving Value Delivery the Japanese Way
0 customer feedback time 0 product improvement time 0 purchasing time 0 setup time 0 defects
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3 V’s Approach to Marketing
Define the value segment Define the value proposition Define the value network
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Benchmarks
Organizational costs and
performance measures
Competitorcosts and
performance measures
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Core Business Processes
Market sensing
Fulfillmentmanagement
Customer acquisition
New offering realization
Customer relationship management
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Characteristics of Core Competencies
A source of competitive advantage Applications in a wide variety of markets Difficult to imitate
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Challenges Facing CMO’s
Doing more with less Driving new business development Becoming a full business partner
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Levels of a Marketing Plan
Strategic Target marketing
decisions Value proposition Analysis of marketing
opportunities
Tactical Product features Promotion Merchandising Pricing Sales channels Service
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Corporate Headquarters’ Planning Activities
Define the corporate missionEstablish SBUsAssign resources to each SBUAssess growth opportunities
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Good Mission Statements
Focus on limited number of goals Stress major policies and values Define major competitive spheres
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Major Competitive Spheres
Industry Products Competence
Market segment Vertical channels Geographical
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Rubbermaid Commercial Products, Inc.
“Our vision is to be the Global Market ShareLeader in each of the markets we serve. We will earn this leadership position by providing to our distributor and end-user customers innovative, high-quality, cost-effective and environmentally responsible products. We will add value to these products by providing legendary customer service through our uncompromising Commitment to Customer Satisfaction.”
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Motorola
“The purpose of Motorola is to honorablyserve the needs of the community by providingproducts and services of superior quality at a fair price to our customers; to do this so as toearn an adequate profit which is required forthe total enterprise to grow; and by doing so, provide the opportunity for our employees andshareholders to achieve their personal objectives.”
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eBay
“We help people trade anything on earth.We will continue to enhance the onlinetrading experiences of all – collectors, dealers, small businesses, unique itemseekers, bargain hunters, opportunitysellers, and browsers.”
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Dimensions That Define A Business
Customer groups
TechnologyCustomer
needs
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Characteristics of SBUs
It is a single business or collection of related businesses
It has its own set of competitors It has a leader responsible for:
Strategic planningProfitabilityEfficiency
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Organizations
Culture Policies Structure
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Market Opportunity Analysis (MOA) Can the benefits involved in the opportunity be
articulated convincingly to a defined target market?
Can the target market be located and reached with cost-effective media and trade channels?
Does the company possess or have access to the critical capabilities and resources needed to deliver the customer benefits?
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Market Opportunity Analysis (MOA)_2 Can the company deliver the benefits
better than any actual or potential competitors?
Will the financial rate of return meet or exceed the company’s required threshold for investment?
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Goal Formulation and MBO
Requirements for using MBOUnit’s objectives must be hierarchicalObjectives should be quantitativeGoals should be realisticObjectives must be consistent
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Porter’s Generic Strategies
Overall cost leadership Differentiation Focus
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Categories of Marketing Alliances
Product or Service Alliances Promotional Alliances Logistics Alliances Pricing collaborations
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Marketing Plan Contents
Executive summary Table of contents Situation analysis Marketing strategy Financial projections Implementation controls
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Evaluating a Marketing Plan
Is the plan simple? Is the plan specific? Is the plan realistic? Is the plan complete?
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MARKETING MANAGEMENT12th edition
11 Dealing with Competition
Kotler Keller
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Chapter Questions How do marketers identify primary competitors? How should we analyze competitors’ strategies,
objectives, strengths, and weaknesses? How can market leaders expand the total market
and defend market share? How should market challengers attack market
leaders? How can market followers or nichers compete
effectively?
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Figure 1.1 Five Forces Determining Segment Structural Attractiveness
Potential entrants Suppliers Buyers Industry competitors Substitutes
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Industry Concept of Competition
Number of sellers and degree of differentiation
Entry, mobility, and exit barriers Cost structure Degree of vertical integration Degree of globalization
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Industry Concept of Competition
Pure monopoly Oligopoly Monopolistic competition Pure competition
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Analyzing Competitors
Share of market Share of mind Share of heart
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Expanding the Total Market
New customers More usage
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Figure 11.6 Six Types of Defense Strategies Defender Flank Preemptive Counteroffensive Mobile Contraction
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Factors Relevant to Pursuing Increased Market Share
Possibility of provoking antitrust action Economic cost Pursuing the wrong marketing-mix
strategy The effect of increased market share on
actual and perceived quality
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Other Competitive Strategies
Market challengers Market followers Market nichers
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Market Challenger Strategies
Define the strategic objective and opponents
Choose a general attack strategy Choose a specific attack strategy
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General Attack Strategies
Frontal attack Flank attack Encirclement attack Bypass attack Guerrilla warfare
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Specific Attack Strategies
Price discounts Lower-priced goods Value-priced goods Prestige goods Product proliferation
Product innovation Improved services Distribution innovation Manufacturing-cost
reduction Intensive advertising
promotion
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Market Follower Strategies
Counterfeiter Cloner Imitator Adaptor
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Balancing Orientations
Competitor-centered Customer-centered
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MARKETING MANAGEMENT12th edition
3 Gathering Information
and Scanning the
Environment
Kotler Keller
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Chapter Questions_1
What are the components of a modern marketing information system?
What are useful internal records? What is involved in a marketing
intelligence system?
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Chapter Questions_2
What are the key methods for tracking and identifying opportunities in the macroenvironment?
What are some important macroenvironment developments?
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MIS Probes for Information What decisions do you regularly make? What information do you need to make these decisions? What information do you regularly get? What special studies do you periodically request? What information would you want that you are not getting
now? What are the four most helpful improvements that could
be made in the present marketing information system?
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Internal Records
Order-to-Payment Cycle Sales Information System Databases, Warehousing, Data mining Marketing Intelligence System
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Steps to Improve Marketing Intelligence
Train and motivate sales force Motivate channel members to share intelligence Network externally Utilize customer advisory panel Utilize government data resources Purchase information Collect customer feedback online
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Needs and Trends
Fad
Trend
Megatrend
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10 Megatrends Shaping the Consumer Landscape
Aging boomers Delayed retirement Changing nature of
work Greater educational
attainment Labor shortages
Increased immigration Rising Hispanic
influence Shifting birth trends Widening geographic
differences Changing age
structure
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Environmental Forces
Demographic Economic Socio-Cultural Natural Technological Political-Legal
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Population and Demographics Size Growth rate Age distribution Ethnic mix Educational
levels
Household patterns
Regional characteristics
Movement
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Economic Environment
$ Purchasing Power$ Income Distribution$ Savings Rate$ Debt$ Credit Availability
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Types of Industrial Structures
Industrial economies Industrializing economies Raw-material exporting economies Subsistence economies
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Social-Cultural Environment
Views of themselves Views of others Views of organizations Views of society Views of nature Views of the universe
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Natural Environment
Shortage of raw materials Increased energy costs Anti-pollution pressures Governmental protections
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Technological Environment
Pace of change Opportunities for innovation Varying R&D budgets Increased regulation of change