mm 1d
DESCRIPTION
test bankTRANSCRIPT
1Defining
Marketing for the 21st
Century
1
Chapter Questions
Why is marketing important? What is the scope of marketing? What are some fundamental marketing
concepts? How has marketing management changed? What are the tasks necessary for successful
marketing management?
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-2
What is Marketing?
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-3
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.
What is Marketing Management?
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-4
Marketing management is theart and science
of choosing target markets and getting, keeping, and growing
customers throughcreating, delivering, and communicating
superior customer value.
What is Marketed?
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-5
• Goods
• Services
• Events
• Experiences
• Persons
What is Marketed?
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-6
• Places
• Properties
• Organizations
• Information
• Ideas
States of Demand
Negative Demand: When consumers dislike a product even pay a price to avoid it.
Nonexistent Demand: When either consumers are not interested or are unaware of a product. Latent Demand: Consumers may share a strong need that is not being fulfilled by an existing product.
Declining Demand: When consumers start buying less or not at all of a product.
Irregular Demand: When consumers buy a product only in seasons .
Full Demand: When they are buying all products of a category available in the market.
Over full Demand: It is a situation in which consumers want to buy but there is not enough product in the market. Unwholesome Demand: When consumers are attracted towards products that have undesirable social consequences so we can not bring it in the market.
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-7
Figure 1.1 Structure of Flows in Modern Exchange Economy
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-8
Figure 1.2 A Simple Marketing System
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-9
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-10
Key Customer Markets
Consumer markets
Business markets
Global markets
Nonprofit/Government markets
Core Marketing Concept
Needs, Wants & Demands
Segmentation, Target Market & Positioning
Offering & Brands
Value & Satisfaction
Marketing Channels (Placement & Promotion)
Supply Chain
CompetitionCopyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-11
Types of Needs
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-12
Stated
Real
Unstated
Delight
Secret
Target Markets, Positioning & Segmentation
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-13
Offerings and Brands
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-14
Value and Satisfaction
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-15
Marketing Channels
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-16
Communication
Distribution
Service
Marketing Environment
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-17
Demographic Economic
Socio-cultural
NaturalTechnological
Political-legal
Major Societal Forces
Network information technology
Globalization Deregulation Privatization Heightened competition
Industry convergence Retail transformation Disintermediation Consumer buying power Consumer participation Consumer resistance
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-18
Company Orientations
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-19
Production
Product
Selling
Marketing
Holistic Marketing
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-20
Relationship Marketing
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-21
Customers
Employees
Marketing Partners
Financial Community
Integrated Marketing
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-22
Internal Marketing
Internal marketing is the task of hiring, training, and motivating able employees
who want to serve customers well.
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-23
Performance Marketing
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-24
Financial Accountability
Social Responsibility Marketing
The Marketing Mix
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-25
The New Four Ps
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-26
Processes
People
Programs
Performance
Marketing Management Tasks
Develop market strategies and plans Capture marketing insights Connect with customers Build strong brands Shape market offerings Deliver value Communicate value Create long-term growth
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-27
For Review
Why is marketing important? What is the scope of marketing? What are some fundamental marketing
concepts? How has marketing management changed? What are the tasks necessary for successful
marketing management?
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-28