Module 1: The Importance of

Marketing Management

August 18, 2021

 Chapter Questions
1. Why is Marketing important
2. What are the scope of Marketing?
3. What are some fundamental marketing
concepts?
4. How was Marketing Management changed?
5. What are the tasks necessary for successful
Marketing Management?
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.
What is 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.
Core Marketing Concepts

.
 Value and Satisfaction
• Perceived Value
- The customer’s evaluation of the
difference between benefits and costs.
- Customers often do not judge values and
costs accurately or objectively.
• Customer Satisfaction
- Product’s perceived performance relative
to customer’s expectation.
 For an exchange to occur….
• There are at least two parties.
• Each party has something that might be of
value to the other party.
• Each party is capable of communication and
delivery.
• Each party is free to reject the exchange offer.
• Each party believes it is appropriate or
desirable to deal with the other party.
 What is Marketed?
• Goods
• Services
• Events & Experiences
• Persons
• Places & Properties
• Organizations
• Information
• Ideas
 Demand States
• Negative demand
• Non existent demand
• Latent demand
• Declining demand
• Irregular demand
• Full demand
• Overfull demand
• Unwholesome demand
Structure of flows in a Modern Exchange
Economy
Simple Marketing System
The marketplace isn’t what it used to
be…
Marketing Management Philosophies
The Selling and Marketing Concepts
Contrasted
Holistic Marketing Dimensions
The Four P’s
Marketing Mix and the Customer
The New Four P’s
Marketing-Mix Strategy
Factors Influencing Marketing Strategy
 Marketing Management Tasks
• Developing Marketing Strategies and Plans
• Capturing Marketing Insights
• Connection with Customers
• Building Strong brands
• Shaping the Market Offerings
• Delivering Value
• Communicating Value
• Creating Successful Long-Term Growth
Marketing Debate
THANK YOU FOR LISTENING!