Marketing vs Branding in the 21st Century

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DEFINING MARKETING (and

BRANDING) for the 21st

CENTURY

Prof. Bong De Ungria

Ateneo Graduate School of Business

Understanding Marketing Management

www.josephdeungria.com

Marketing vs. Branding?

What’s the Difference?


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. Goods

2. Services

3. Experiences

4. Events

5. Persons

6. Places

7. Properties

8. Organizations

9. Information

10.Ideas


Everything (10) is marketed !


1. Goods

2. Services

3. Experiences

4. Events

5. Persons

6. Places

7. Properties

8. Organizations

9. Information

10.Ideas


Everything (10) is marketed !

Pnoy Challenge:

Name 1 entity thatdoes not needMarketing


Who Is

InvolvedIn

Marketing(for your company?)

Raise your hands!


1. Marketing

2. Finance

3. Operations

4. HR


Every employee is a marketer!


1. Marketing

2. Finance

3. Operations

4. 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:






5. Changing



Model

Mastering 101 Key Marketing Concepts


What is Marketing?


What is Marketing?

System of profitably


What is Marketing?


creating,




What is Marketing?


communicating and

creating,




What is Marketing?


communicating and

creating,

delivering value to




What is Marketing?


Satisfy customer

communicating and

creating,

delivering value to




What is Marketing?


Satisfy customer

needs, wants and demands

communicating and

creating,

delivering value to




What is Marketing?


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


Can Marketing Create or Satisfy

Needs?

Can Marketing Create Needs?

Debate


Food exampleTo understand Needs, Wants & Demands.

Need Basic necessity

Feel 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!)


Heart is a 3 cornered shape

For 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:






5. Changing



In 21st Century Marketing

Many Things Changed

(Increased!)


1. Globalization

2. Technology

3. Deregulation

4. Privatization

5. More Competition

6. Industry Convergence

7. Consumer resistance

8. Retail Transformation

21st Century Marketing Difference 1:

Competition increased due to


1. Globalization

2. Technology

3. Deregulation

4. Privatization

5. More Competition

6. Industry Convergence

7. Consumer resistance

8. Retail Transformation

The Following changed

or disappeared:

Economic Boundaries

Brick and Mortar

Business Rules

Monopolies & Dinosaurs

Way of Doing Business


Competitive Rules changed!


1. Buying Power

2. Choices

3. Information

4. Voice

EASIER

5. Ordering

6. Comparison

Customer is King!

INCREASED


Customers are more powerful

and demanding


1. Internet

1. Social Media

2. Sales Channel

3. Research

4. On and Off-line buzz

5. Blogs

6. Purchasing savings

2. Niche magazines

3. 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. CONNCECTED Customers (develop long term

relationships)

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

3. Competition (performance)


Marketing has to be HOLISTIC


Outline:






5. Changing



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



www.josephdeungria.com 46

DEFINING MARKETING (and

BRANDING) for the 21st

CENTURY

Prof. Bong De Ungria

Ateneo Graduate School of Business

Understanding Marketing Management

Marketing vs Branding in the 21st Century

Education

Transcript of Marketing vs Branding in the 21st Century