Professional Documents
Culture Documents
Chapter
1
Defining
Marketing
for the
New Realities
Learning Objectives
1. Why is marketing important?
2. What is the scope of marketing?
3. What are some core marketing concepts?
4. What forces are defining the new marketing
realities?
5. What new capabilities have these forces given
consumers and companies?
6. What does a holistic marketing philosophy include?
7. What tasks are necessary for successful marketing
management?
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Marketing Management
• The art and science of choosing target
markets and getting, keeping, and growing
customers through creating, delivering,
and communicating superior customer
value
What is Marketed?
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What is Marketed?
What is Marketed?
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What is Marketed?
What is Marketed?
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What is Marketed?
• Goods
• Services
• Events
• Experiences
• Persons
What is Marketed?
• Places
• Properties
• Organizations
• Information
• Ideas
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Who Markets?
8 Demand States
• Negative
• Nonexistent
• Latent
• Declining
• Irregular
• Unwholesome
• Full
• Overfull
COPYRIGHT © 2016 Copyright
PEARSON©EDUCATION,
2016 PearsonINC.
Education Ltd. 1-14 1-14
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Fig. 1.1
Structure Of Flows In A Modern
Exchange Economy
Fig. 1.2
A Simple Marketing System
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• Needs
• Wants
• Demand
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Types of Needs
STATED
REAL
UNSTATED
DELIGHT
SECRET
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Types of Needs
STATED ( I want an inexpensive car)
• Target markets
• Positioning
• Segmentation
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COMMUNICATION
DISTRIBUTION
SERVICE
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• Marketing
environment
– Task environment
– Broad environment
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• Technology
• Globalization
• Social
responsibility
A dramatically changed
marketplace
• New consumer capabilities
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A dramatically changed
marketplace
• New consumer
capabilities
A dramatically changed
marketplace
• New company capabilities
– Can use the internet as a powerful information and
sales channel, including for individually differentiated
goods
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A dramatically changed
marketplace
• New company capabilities
A dramatically changed
marketplace
• Changing channels
– Retail
transformation
– Disintermediation
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A dramatically changed
marketplace
• Heightened competition
– Private brands
– Mega-brands
– Deregulation
– Privatization
Marketing in practice
• Marketing balance
Balance the spending on social media and on
traditional marketing communications
• Marketing accountability
Justify their investments
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PRODUCTION
PRODUCT
SELLING
MARKETING
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Relationship marketing
CUSTOMERS
EMPLOYEES
MARKETING PARTNERS
FINANCIAL
COMMUNITY
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Integrated marketing
• Devise marketing activities and programs that
create, communicate, and deliver value such that
“the whole is greater than the sum of its parts.”
Internal marketing
• The task of hiring, training, and motivating
able employees who want to serve
customers well
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Performance marketing
FINANCIAL ENVIRONMENTAL
ACCOUNTABILITY IMPACT
SOCIAL IMPACT
Fig. 1.5
Marketing Mix Components (4 Ps)
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MODERN MARKETING
MANAGEMENT
PEOPLE
PROCESSES
PROGRAMS
PERFORMANCE
MARKETING
MANAGEMENT TASKS
• Developing market strategies and plans
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MARKETING
MANAGEMENT TASKS
• Creating value
• Delivering value
• Communicating value
Thank you
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