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1

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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?

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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 theorganization and its stakeholders.

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Marketingmanagement is the

art and science

of choosing target marketsand getting, keeping, and growing

customers through

creating, delivering, and communicatingsuperior customer value.

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Importance of Marketing

Scope of Marketing

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Goods

ServicesEvents and

experiences

Persons

Places and properties

Organizations Information

Ideas

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Negative

NonexistentLatent

Declining

Irregular

UnwholesomeFull

Overfull

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Consumer markets

Business markets

Global markets

Nonprofit/Government markets

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Production

Product

Selling

Marketing

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Four Ps

ProductPrice

Place

Promotion

Four Cs

Customersolution

Customer cost

Convenience

Communication

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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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Strengthening the brands

Measuring marketing effectiveness

Driving new product development based on

customer needsGathering meaningful customer insights

Utilizing new marketing technology

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Dual Goal of

marketing

Adam SmithCore concepts of

marketing

Scientific

ManagementImportance of

marketing

GeneralAdministrative TheoryScope of marketing

Customer

Dissatisfactio

n

Customer

Delight

Production

Unwholesome

DecliningHawthorne

StudiesFull

Organizational

BehaviorOverfull

Holistic Selling Marketing

What is marketing?

Why marketing?

What is Marketed

Customer

satisfaction

Quality

ManagementCustomer

Satisfaction

Demand States

Company

Orientations

MARKETING IN 21st

Century

Goods Service

s

Persons

Organizatio

n

Informatio

nIdeasPlaces,

Properties

LatentNegative

Organizational

BehaviorIrregular

Organizational

BehaviorNonexistent

ProductMarketing Mix

Marketing

Management Tasks

Product

Promotion

Price Place

Develop marketingstrategies and plansCapture marketing

insightsConnect with customers

B ild t b d

Shape market offeringsDeliver value

Communicate valueCreate long-term

growth

Market

changes

I

Information

technology

Convergenc

e

Competitio

n

Privatization

DeregulationGlobalizati

on

Consumer

resistance