CHAPTER 1: Defining

Marketing for the

21st Century

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.