Kotler14e ippt ch1

What is Marketing?

Selling?

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 © 2012 Pearson Education 1-3

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”.

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”.

What is Marketed?


• Goods

• Services

• Events

• Experiences

• Persons

What is Marketed?


• Places

• Properties

• Organizations

• Information

• Ideas


Demand States

Negative Nonexistent Latent Declining

Irregular Unwholesome Full Overfull

Figure 1.1 Structure of Flows in Modern Exchange Economy


Figure 1.2 A Simple Marketing System



Key Customer Markets

Consumer markets Business markets Global markets Nonprofit/Government markets

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


Types of Needs


Stated (an inexpensive car)

Real (operating cost is low, not the price)

Unstated (expect good services)

Delight (a GPS navigation system)

Secret (see him/her as a savvy customer)

Target Markets, Positioning & Segmentation


Offerings and Brands


A value proposition, a set of benefits that satisfy customer needs

Brand isassociations in people’s mind

that makes up a company’s image

Value and Satisfaction


Perceptions?

Emotion?

Value, the sum of the tangible and intangible benefits

Satisfaction, a person’s Judgment of a product’sperceived performance

in relationship to expectations

Marketing Channels (3 kinds)


Communication- deliver & receive messages from target buyers

Distribution- display, sell, or deliver the physical product or services to buyers

Service- includes warehouses, transportation, banks & insurance companies

Marketing Environment


Demographic Economic

Socio-cultural

NaturalTechnological

Political-legal

The New Marketing Realities Major Societal Forces

Network information technology

Globalization Deregulation Privatization Heightened competition

Industry convergence Retail transformation Disintermediation (dot.com)

Consumer buying power Consumer participation Consumer resistance


What are the opportunities that these forces can provide?

Company Orientations


Production- prefer products are widely available and cheap

Product- quality, performance or innovative features

Selling- aggressive selling what consumers might don’t need it

Marketing- customer-centered, sense-and-respond philosophy

Holistic Marketing


Relationship Marketing


Customers

Employees

Marketing Partners

Financial Community

To build mutually satisfying long-term relationships

Integrated Marketing


All company communications must be integrated

Internal Marketing

Internal marketing is the task of

hiring, training, and motivating able employees

who want to serve customers well.


Performance Marketing


Financial Accountability

Social Responsibility Marketing

Financial Returns Non-Financial Returns

Requires understanding the financial and non-financial returnsto business and society from marketing activities and programs

Types of Corporate Social Initiatives

Corporate social marketing Cause marketing Cause-related marketing Corporate philanthropy Corporate community involvement Socially responsible business practices


The Marketing Mix


The New Four Ps


Processes (reflects all creativity, discipline & structure

People (employees)

Programs (reflects all the firm’s consumer-directed activities

Performance (financial & non-financial)

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


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?


Kotler14e ippt ch1

Marketing

Transcript of Kotler14e ippt ch1