1

Defining Marketing
for the 21st Century
 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 © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from 1-2
the United States edition of Marketing Management, 14e.
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.

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the United States edition of Marketing Management, 14e.
What Is Marketing Management?

Marketing management is the

art and science
of choosing target markets
and getting, keeping, and growing
customers through
creating, delivering, and communicating
superior customer value.

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the United States edition of Marketing Management, 14e.
Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from 1-5
the United States edition of Marketing Management, 14e.
Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from 1-6
the United States edition of Marketing Management, 14e.
 What Is Marketed?

• Goods
• Services
• Events
• Experiences
• Places

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Copyright Pearson Education,
2013 Dorling Inc.  Publishing
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Prentice Hall adaptation from
Authorized 1-7
1-7
the United States edition of Marketing Management, 14e.
 What Is Marketed?

• Persons
• Properties
• Organizations
• Information
• Ideas

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the United States edition of Marketing Management, 14e.
Demand States

Negative 
Irregular

Nonexistent 
Unwholesome

Latent 
Full

Declining 
Overfull

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the United States edition of Marketing Management, 14e.
Figure 1.1 Structure of Flows in
Modern Exchange Economy

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the United States edition of Marketing Management, 14e.
Figure 1.2
A Simple Marketing System

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the United States edition of Marketing Management, 14e.
 Key Customer Markets

Consumer markets

Business markets

Global markets

Nonprofit/Government markets

Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from 1-12
the United States edition of Marketing Management, 14e.
Core Concepts

Needs, wants, and 
Value and
demands satisfaction

Target markets, 
Marketing channels
positioning, 
Supply chain
segmentation 
Competition

Offerings and 
Marketing
brands environment

Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from 1-13
the United States edition of Marketing Management, 14e.
Types of Needs

Stated Need: I want expensive car

Real Need: I want car with less operating
cost, not initial price is low.

Unstated need: I expect good service from
dealer

Delight Need: I would like dealer to include
onboard GPS system.

Secret Need: I want my friend to see me as a
savvy customer (make good judgments).

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the United States edition of Marketing Management, 14e.
Target Markets,
Positioning & Segmentation

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the United States edition of Marketing Management, 14e.
Offerings and Brands

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the United States edition of Marketing Management, 14e.
Value and Satisfaction

Quality

Service

Price

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the United States edition of Marketing Management, 14e.
Marketing Channels

Communication

Distribution

Service

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the United States edition of Marketing Management, 14e.
Marketing Environment

Demographic Economic

Socio-cultural
Political-legal

Technological Natural

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the United States edition of Marketing Management, 14e.
 Major Societal Forces

Network information 
Retail transformation
technology 
Disintermediation

Globalization 
Consumer buying power

Deregulation 
Consumer information

Heightened competition 
Consumer participation

Industry convergence 
Consumer resistance

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the United States edition of Marketing Management, 14e.
Company Orientations

Production

Product

Selling

Marketing

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the United States edition of Marketing Management, 14e.
Figure 1.3
Holistic Marketing

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the United States edition of Marketing Management, 14e.
Relationship Marketing

Customers

Employees

Marketing Partners

Financial Community

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the United States edition of Marketing Management, 14e.
Integrated Marketing
Key themes:
(1) many different marketing activities can
create, communicate, and deliver value, and
(2) marketers should design and implement any
one marketing activity with all other activities
in mind.

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the United States edition of Marketing Management, 14e.
Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from 1-25
the United States edition of Marketing Management, 14e.
Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from 1-26
the United States edition of Marketing Management, 14e.
 Internal Marketing

Internal marketing is the task of

hiring, training, and motivating able employees
who want to serve customers well.

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the United States edition of Marketing Management, 14e.
Thanks

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the United States edition of Marketing Management, 14e.