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    The document defines marketing in three sentences from different sources. Kotler defines marketing as the process of exploring, creating, and delivering value to satisfy customer needs at a profit. The AMA defines marketing as the activities, institutions, and processes used to create, communicate, deliver, and exchange offerings that have value for customers and society. Moriarty, Mitchell and Wells define marketing as an organizational function and set of processes used to create and communicate value for customers and stakeholders in ways that benefit the organization.

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    The document defines marketing in three sentences from different sources. Kotler defines marketing as the process of exploring, creating, and delivering value to satisfy customer needs at a profit. The AMA defines marketing as the activities, institutions, and processes used to create, communicate, deliver, and exchange offerings that have value for customers and society. Moriarty, Mitchell and Wells define marketing as an organizational function and set of processes used to create and communicate value for customers and stakeholders in ways that benefit the organization.

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    © All Rights Reserved
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    21 views46 pages

    Defining Marketing For The 21 Century

    Uploaded by

    Abrar Jawad
    The document defines marketing in three sentences from different sources. Kotler defines marketing as the process of exploring, creating, and delivering value to satisfy customer needs at a profit. The AMA defines marketing as the activities, institutions, and processes used to create, communicate, deliver, and exchange offerings that have value for customers and society. Moriarty, Mitchell and Wells define marketing as an organizational function and set of processes used to create and communicate value for customers and stakeholders in ways that benefit the organization.

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    © All Rights Reserved
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    of 46

    Chapter 1

    Defining Marketing For the 21st Century


    What is
    Marketing
    The process of exploring, creating, and delivering value to
    satisfy the needs of a target market at a profit. (Kotler)

    Marketing is the activity, set of institutions, and processes


    for creating, communicating, delivering, and exchanging
    offerings that have value for customers, clients, partners,
    and society at large. (AMA)

    Organizational function and a set of process for creating,


    communicating and delivering value to customers and for
    managing relationship in ways that benefit the organization
    and its stakeholders. (Moriarty, Mitchell and Wells)
    Art + Science

    Creativity Strategic Tools


    Intuition G-STIC

    “firm's marketing resources and


    capabilities”
    What is
    Marketed
    Properties

    Persons Services

    Organizations Goods Ideas

    Experiences Events

    Places
    Eight Demand
    States
    Negative Nonexistent Declining Latent
    Demand Demand Demand Demand

    Irregular Overfull Unwholesome


    Full Demand
    Demand Demand Demand
    Eight Demand
    States

    What can marketers do to influence demand


    through each of the situations described above?
    Give examples to illustrate your points
    Negative Demand- Analyze Market, Product Redesign, Positive Promotion, Lower Price

    Nonexistent Demand- Find Ways to Connect Benefits with Consumers

    Latent Demand- Measure the Size of the Potential Market, Develop Product Features,
    Market them in a Desirable way
    Declining Demand- Rebranding

    Irregular Demand- Flexible Pricing, Promotion

    Overfull Demand- De-Marketing; Increase Price, Reduce Promotion

    Unwholesome Demand- Fear Messages, Reduce Availability, Usage Restriction


    A Simple Marketing
    System
    Key Customer
    Markets

    Consumer Business
    Market Market

    Global Market Non-profit and


    Governmental Market
    Key
    Concepts
    Marketplaces
    Marketspaces
    Metamarkets
    Core Marketing
    Concept

    Needs
    Wants Demands
    Core Marketing
    Concept

    Segmentation, Offerings and Value and


    Targeting and Brand Satisfaction
    Positioning

    Channels Competition Environment


    The New Marketing
    Realities
    Information
    Technology

    https://www.youtube.com/wa
    tch?v=KfLzm2oKoZg
    Globalization
    Competition
    Industry Convergence
    Retail Transformation
    Consumer Buying Power
    Consumer Participation
    4P’s

    Product Place

    Price Promotion
    Forget about 4P’s !!

    People Process Physical


    Evidence
    Company Orientation Towards the Market Place

    Production Orientation

    Focus on Production and Efficiency

    Economies of Scale

    Limited Consumer Research

    No Emphasis on Quality
    Company Orientation Towards the Market Place

    Product Orientation

    Favors the Product with Better Quality

    High in Performance and Innovation

    Product Improvement

    Emphasis on Quality
    Company Orientation Towards the Market Place

    Selling Orientation

    Persuade Consumers to Buy Products

    High Risk as no Focus on Building Relationship

    Product Improvement

    Practiced with Unsought Goods


    Company Orientation Towards the Market Place

    Market Orientation

    Focus on customers’ need and want

    Integrated Marketing Efforts

    Market Analysis
    Should a Firm Follow Only One Approach or Both?

    Market orientation gets the right product


    product orientation get the product right.
    Company Orientation Towards the Market Place

    Holistic Marketing Orientation

    Relationship Marketing Integrated Marketing

    Internal Marketing Performance Marketing


    Holistic Marketing Orientation
    Relationship Marketing
    Holistic Marketing Orientation

    Relationship Marketing

    Build a Network of Mutually Satisfying Long Lasting Relationship


    Emphasize on Existing Customers; Suppliers and Distributers as
    Partner for Value Creation
    More Individualistic Approach

    Word of Mouth, Build Brand Loyalty

    Strong Brand Image; Hence Competitive Edge

    Valuable Feedback; Co-creation.


    Holistic Marketing Orientation
    Integrated Marketing

    The Whole is greater than the sum of its parts

    Integrated Marketing Communication

    Integration in Marketing Channels


    Holistic Marketing Orientation
    Internal Marketing

    Employees are “Internal Customers”

    Align every Aspect of a Company’s Internal Operations

    Influences Customers Attitudes


    Holistic Marketing Orientation
    Performance Marketing

    Financial Accountability

    Societal Marketing

    Customer

    Company

    Society
    https://www.youtube.com/watch?v=OXVRB_u9Y7M

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