CHAPTER 1: Defining

Marketing for the 21st

Century

What is Marketing?
Marketing is a technique or the commercial of encouraging and selling products
or services. It contains dealings to shape, connect and offer customers value.

What is Marketing Management?

Marketing management is “planning, organizing, controlling and implementing of
marketing program, policies, strategies and tactics designed to create and satisfy
the demand for the firms' product offerings or services as a means of generating an
acceptable profit.”

8 Different Kinds of Demands in a Marketing system:

 Latent demand: Consumer may share a strong need that cannot be satisfied by
an existing product.
 Declining demand: Consumer begin to buy products less frequently than usual.
 Irregular demands: consumer purchases vary on monthly, daily or even weeks.
 Non Existent demand: Consumer may be unaware or uninterested in the
product.
 Full demands: Consumers are eloquently buying all the products putting into
market place.  Overfull demand: More consumer would like to buy the
product that can be satisfied.
 Unwholesome demand: Consumers may be attracted to products that have
undesirable consequences.
 Negative demand: Consumer dislike the product or may even pay a price to
avoid it.

Key Customer Markets

Consumer Markets
Companies vending mass consumer goods and services such as juices,
Business Markets
Companies vending business goods and services often face well-informed
professional buyers skilled at weighing competitive offerings.

Global Markets
Companies in the worldwide marketplace direct cultural, language, legal, and
political differences while determining which countries to enter and how to trade

Nonprofit and Governmental Markets

Companies trade to nonprofit organizations with fractional
purchasing power such as churches, need to price carefully.

Marketing Management Tasks

• Grow market tactics and plans
• Capture marketing insights
• Link with customers
• Form strong brands
• Build market offerings
• Deliver value
• Communicate value
• Create long-term growth

CORE MARKETING CONCEPT:

 Leads the current of services and goods to consumers from producers.

 They contain of the needs, wants, and desires of consumers.
 Presents, marketing environment, and supply chains are also included in the
core concepts. It all drops down to satisfaction of customers.