Types of needs

1. Stated needs
2. Real needs
3. Unstated needs
4. Delight needs
5. Secret needs

Market system

 Industry
 Market

Key customer markets

1. Consumer markets
2. Business markets
3. Global markets
4. Nonprofit Government markets

New marketing realities

1. Information technology
2. Globalization
3. Deregulation
4. Privatization
5. Competition
6. Convergence
7. Consumer resistance
8. Retail transformation
9. Disintermediation

Company orientations

Production >product>selling> marketing

 Societal marketing

Three concepts

1. Society human welfare

2. Company (profit)
3. Consumer (satisfaction)
 Relationship marketing (holistic marketing)
1. Internal marketing
2. Integrated marketing (product, price, promotion, place)
3. Socially responsible marketing (Corporate social marketing, cause marketing, corporate
philanthropy, corporate community involvement, socially responsible business practice)
4. Relationship marketing
 Two types of value delivery process
1. Traditional physical sequence (two phases make the product, sale the product)
Deign> procure> make> Price>sell>advertise>distribute>service
2. Value creation and delivery sequence (choose the value (its strategic marketing, provide the
value, communicate the value (both are tactical marketing)
Customer segmentation> market selection focus> value positioning>product development>
pricing?> sourcing making> distributing servicing> sales force> sales promotion> advertising

3 Vs approach to marketing
1. Define the value segment (needs and wants)
2. Define the value proposition (benefits)
3. Define the value network to deliver promise services
 Value chain
 Porter’S value chain

Core business processes (of marketing)

 Market sensing process

 New offering realization process
 Customer acquisition process
 Customer relationship management process
 Fulfillment management process

Holistic marketing

Definition and it includes

 Internal marketing
 Socially responsible marketing
 Relationship marketing
 Integrated marketing

Marketing plan and levels of marketing plan

Strategic

 Target marketing decisions

 Value proposition
 Analysis of marketing opportunities

Tacticall

 Product features
 Promotion
 Merchandizing
 Pricing
 Sales channels
 Service
The Strategic Planning, Implementation, and Control Processes (slide 13)