Downloadable template for hypermarketing chapter reports

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DEFINING MARKETING for the 21st CENTURY

Prof. Bong De UngriaAteneo Graduate School of Business

Understanding Marketing Management

www.josephdeungria.com

Outline:

21st century marketing is…

1. Important to business success (why?)2. Used for everything (for what?, scope) 3. Everyone’s responsibility (who?) 4. Basic (what are core concepts?) 5. Changing 6. Accomplishing 7 Tasks


21st Century Marketing Concept 1:

Marketing is important for business success • Delivers top-line growth (revenue)

• Customer retention/ loyalty

communicating and

creating,

delivering value to

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1. Goods2. Services3. Experiences 4. Events5. Persons6. Places7. Properties8. Organizations9. Information10.Ideas


Everything (10) is marketed !


1. Goods2. Services3. Experiences 4. Events5. Persons6. Places7. Properties8. Organizations9. Information10.Ideas


Everything (10) is marketed !

Pnoy Challenge:

Name 1 entity thatdoes not needMarketing


Who Is

InvolvedIn

Marketing(for your company?)

Raise your hands!


1. Marketing2. Finance3. Operations4. HR


Every employee is a marketer!


1. Marketing2. Finance3. Operations4. HR

Including: – Delivery personnel– Security guards– Secretaries– Collectors– Messenger


Every employee is a marketer!



Everything counts! (All actions are counted, scored by the customer)


Outline:




Model

Mastering 101 Key Marketing Concepts


What is Marketing?


What is Marketing?System of profitably



creating,




communicating and

creating,




communicating and

creating,

delivering value to




Satisfy customer

communicating and

creating,

delivering value to




Satisfy customer

needs, wants and demands

communicating and

creating,

delivering value to




Satisfy customer

needs, wants and demands

Better than competition

communicating and

creating,

delivering value to



Maslow’s Hierarchy of Needs=a basic, constant reference

Self-Actualization

Esteem Needs (Recognition,

Status)

Social Needs (sense of belonging, love)

Safety Needs (security, protection)

Physiological needs (food, water, shelter)

Reference: Marketing Management, 11th ed, Philip Kotler


Food exampleTo understand Needs, Wants & Demands.

Need Basic necessityFeel deprived if this is absent

Food

Want Given choices, this is what you prefer

Chicken, Burger, Steak dinner

Demand A want that is supported by a decision and capacity to buy

Only burger is within my budget!


21st Century Same Concept 3 and 4:

Marketing meets demand (thus, meets needs too!)


Needs are still basic, universal human requirements.

Respond to 5 Types of needs:

1. Stated2. Unstated3. Real4. Delight5. Secret

Basic needs have not changed. No NEED added or deleted in 50 years


Heart is a 3 cornered shapeFor 3 Strategic Cs


CUSTOMER

First side is Customer


COMPANY

CUSTOMER

2nd side is Company who creates, communicates & delivers value




COMPANY

CUSTOMER

COMPETITION

3rd side is Competition




COMPANY

CUSTOMER

NEEDS, WANTS,

DEMANDS

COMPETITION

For customers, we meet demands




Outline:




In 21st Century Marketing Many Things Changed

(Increased!)


1. Globalization2. Technology3. Deregulation4. Privatization5. More Competition6. Industry Convergence7. Consumer resistance8. Retail Transformation

21st Century Marketing Difference 1:

Competition increased due to


1. Globalization2. Technology3. Deregulation4. Privatization5. More Competition6. Industry Convergence7. Consumer resistance8. Retail Transformation

The Following changed or disappeared:

Economic BoundariesBrick and Mortar Business RulesMonopolies & DinosaursWay of Doing Business


Competitive Rules changed!


1. Buying Power2. Choices3. Information4. Voice

EASIER5. Ordering6. Comparison

Customer is

King!

INCREASED


Customers are more powerful and demanding


1. Internet1. Social Media

2. Sales Channel

3. Research

4. On and Off-line buzz

5. Blogs

6. Purchasing savings

2. Niche magazines3. Mobile


Companies must use more capabilities too!


Heart Attack!Company does same things it did 5 or 10

years ago (even if these were the key success factors of the 20th century)


Must cover:1. Customers (develop long term relationships)

2. Company (internal customers, employees, 4Ps)

3. Competition (performance)


Marketing has to be HOLISTIC


Outline:




1. Develop Strategic Plans


Marketing Must Fulfill 7 Tasks



2. Capture Market Insights






3. Connect with Customers







4. Build Strong Brands








5. Shape Market Offerings









6. Communicate & Deliver Value









6. Communicate & Deliver Value

7. Capture Long Term Growth




In 20th century marketing:

20 was good and can win!

45www.josephdeungria.com

ACE + 9 = 20


21st Century Marketing:

Only “21” is acceptable

ACE + 9 = 20 ACE + KING = 21!


21st Century Marketing….

Meeting Demands Profitably

NEEDS, WANTS,

DEMANDS

PROFITABLY

Business Success



Used for everything & involves everybody

NEEDS, WANTS,

DEMANDS

PROFITABLY

Business Success

EVERYBODY



Is Changing

NEEDS, WANTS,

DEMANDS

PROFITABLY

Business Success

10 ENTITIESINVOLVES EVERYBODY

CHANGING



Demanding Customers, Greater Competition, Stronger Companies

NEEDS, WANTS,

DEMANDS

PROFITABLY

Business Success

CHANGINGEVERYBODY



Demanding Customers Demand a lot that can bankrupt companies

NEEDS, WANTS,

DEMANDS

PROFITABLY

Business Success

CHANGINGEVERYBODY



Manages Demand (customer’s ability to pay)

NEEDS, WANTS,

DEMANDS

PROFITABLY

Business Success

CHANGINGEVERYBODY



Manages Demand- Focus on 5 of 10 things that really matter to customer

NEEDS, WANTS,

DEMANDS

PROFITABLY

Business Success

CHANGING

MANAGES DEMANDS

EVERYBODY



ST.P= Segments…

NEEDS, WANTS,

DEMANDS

PROFITABLY

Business Success

CHANGING

MANAGES DEMANDS

EVERYBODY



ST.P= Segments…Targets…

NEEDS, WANTS,

DEMANDS

PROFITABLY

Business Success

CHANGING

MANAGES DEMANDS

EVERYBODY



ST.P= Segments…Targets… Positions

NEEDS, WANTS,

DEMANDS

PROFITABLY

Business Success

CHANGING

MANAGES DEMANDS

ProductPromo

Price

Place

EVERYBODY



Positions with Brands

NEEDS, WANTS,

DEMANDS

PROFITABLY

Business Success

CHANGING

MANAGES DEMANDS

ProductPromo

Price

Place

Positions with Br ANDS

EVERYBODY



Is Holistic

NEEDS, WANTS,

DEMANDS

PROFITABLY

Business Success

CHANGING

MANAGES DEMANDS

ProductPromo

Price

Place

POSTIONS with Br ANDS

HOLE- Stick

EVERYBODY



Involves 7 Tasks

NEEDS, WANTS,

DEMANDS

PROFITABLY

Business Success

CHANGING

MANAGES DEMANDS

ProductPromo

Price

Place


HOLE- Stick

7 TASKS


21st Century Marketing…. 7 Tasks

1 Develop Plans

NEEDS, WANTS,

DEMANDS

PROFITABLY

Business Success

CHANGING

MANAGES DEMANDS

ProductPromo

Price

Place


HOLE- Stick

7 TASKS

PLANeS



2 Captures Insights

NEEDS, WANTS,

DEMANDS

PROFITABLY

Business Success

CHANGING

MANAGES DEMANDS

ProductPromo

Price

Place


HOLE- Stick

7 TASKS

DEVELOPS PLANeS

CAPTURES Insights



3 Connects with Customers

NEEDS, WANTS,

DEMANDS

PROFITABLY

Business Success

CHANGING

MANAGES DEMANDS

ProductPromo

Price

Place


HOLE- Stick

7 TASKS

DEVELOPS PLANeS

CAPTURES Insights

CONNECTS WITH CUSTOMERS



4 Builds Strong Brands

NEEDS, WANTS,

DEMANDS

PROFITABLY

Business Success

CHANGING

MANAGES DEMANDS

ProductPromo

Price

Place


HOLE- Stick

7 TASKS

DEVELOPS PLANeS

CAPTURES Insights


BUILDS BRANDS



5 Shapes Market Offerings

NEEDS, WANTS,

DEMANDS

PROFITABLY

Business Success

CHANGING

MANAGES DEMANDS

ProductPromo

Price

Place


HOLE- Stick

7 TASKS

DEVELOPS PLANeS

CAPTURES Insights


BUILDS BRANDS SHiPs OFFERING



6 Communicates & Delivers Value

NEEDS, WANTS,

DEMANDS

PROFITABLY

Business Success

CHANGING

MANAGES DEMANDS

ProductPromo

Price

Place


HOLE- Stick

7 TASKS

DEVELOPS PLANeS

CAPTURES Insights



COMMUNICATES AND DELIVERS VALUE



7 Creates Long Term Growth

NEEDS, WANTS,

DEMANDS

PROFITABLY

Business Success

CHANGING

MANAGES DEMANDS

ProductPromo

Price

Place


HOLE- Stick

7 TASKS

DEVELOPS PLANeS

CAPTURES Insights



COMMUNICATES AND DELIVERS VALUE

LONG TERM

GROWTH


Summary:




My Conclusion:

21st century marketing

To be successful today requires

less of luckLess of magic

and more of marketing.

www.josephdeungria.com69

DEFINING MARKETING for the 21st CENTURY

Prof. Bong De UngriaAteneo Graduate School of Business

Understanding Marketing Management

Downloadable template for hypermarketing chapter reports

Education

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