Defining Marketing for the New Realities

Kotler, Philip. Marketing management/Philip Kotler, Kevin Lane Keller. — 14th ed. p. cm
 Discussion Questions

1.Why is marketing important?

2.What is the scope of marketing?
3.What are some fundamental marketing concepts?
4.How has marketing management changed in recent years?
5.What are the task necessary for successful marketing management?
 What is Marketing?

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 ?

– 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.
– What customers will we serve?
– How can we best serve these customers?
 What is Marketed?

• Experiences • Goods: Physical goods

• Events • Services: Intangible
• Properties • Events: Shows such as new year celebration, or a
• Organizations sporting event
• Information • Experiences: Such as organized holiday tour package
• Ideas
• Places: Like cities, state, nations, for purposes such as
attracting tourists.
• Properties: like real estate
• Organizations: companies, universities, and
charitable organizations.
• Information: Magazines
 Types of Demand
8 Demand States

• Unwholesome
• Negative
• Irregular
• Declining
• Nonexistent
• Latent
• Full
• Overfull
 Key Customer Markets

• Global Markets
• Customer Markets
• Business Markets
• Nonprofit/Government markets
Marketing Concepts
Holistic Marketing Dimensions
 Marketing Mix and the Customer

Four Cs
Four Ps
• Customer solution
•Product
• Customer cost
•Price
• Convenience
•Place
• Communication
•Promotion
The Four P’s of the Marketing Mix
 Brand Portfolio

A brand portfolio is the set of all brands and brand lines a particular firm
offers for sale in a particular category or market segment.
 Core Marketing Concepts

• Developing marketing strategies • Shaping market offerings

• Capturing marketing insights • Delivering value
• Connecting with customers • Communicating value
• Building strong brands • Creating long-term growth
 Marketing Management Tasks

• Developing marketing strategies • Shaping market offerings

• Capturing marketing insights • Delivering value
• Connecting with customers • Communicating value
• Building strong brands • Creating long-term growth