Ch1 - Defining Marketing For The New Realities - Ismail (Compatibility Mode)

4/2/22
Chapter 1
Defining Marketing for the New Realities
Prof. Muhammad Ismail Hossain

MBA (Dhaka), MIB (Melbourne) PhD
(Monash)
Department of Marketing
University of Dhaka
muhammad.hossain@du.ac.bd
Questions to Address
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 to
consumers and companies
6. What does holistic marketing philosophy include?
7. What tasks are necessary for successful marketing
management?
©muhammad.hossain@du.ac.bd
Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall
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The Value of Marketing
Marketing
Demand Jobs
Revenue Profits Giving
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Best Global Brands 2010
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The Scope of Marketing
Marketing is the activity, set of institutions, and

processes for creating, communicating, delivering,
and exchanging offerings that have value for
customers, clients, partners, and society at large
(AMA, 2017).
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The Scope of Marketing
Marketing is the exchange of satisfaction

between parties (Hossain, 2020).
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n ed
efi
D 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.
RETAINING
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n ed
efi
D
Marketing management is the management
of satisfaction between parties (Hossain,
2020).
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What is Marketed?
Persons • Experiences
• Events
• Properties
• Organizations
• Information
• Ideas
Goods
Services Places
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Who markets?
Response
Attention
Purchase
Donation
Vote
Marketer Prospect
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Who markets?
Response
Vote
Confidence
Marketer Prospect
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Who markets?
Response
Vote
Marketer Prospect
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Types of Demand
Unwholesome Declining
• Nonexistent
• Latent
Irregular • Full
Negative • Overfull
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Market: A Simple Representation
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Markets
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Key Customer Markets

Global Markets
Consumer Market
Business Markets Government Market

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Markets
Marketplaces Marketspaces
Metamarkets
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Core Marketing Concepts

Needs, Wants, and Demands Target Markets, Positioning,
and Segmentation
Offerings and Brands
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Offerings and Brands
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Marketing Channels: Communication,
Distribution, Service
Supply Chain
Marketing Environment: Task, Broad Competition

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Media: Paid, Owned, Earned
Impression and Engagement
Value and Satisfaction

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The New Marketing Realities

Globalization Communicate,
Information share
Collect
Technology Information
Restricted Interaction
Major Societal New Customer

Forces Capabilities
Purchase on
Consumer the go Reject
Information Increased individually &
Competition Socially
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Globalization Communicate
Information w/Customer
Collect
Technology Information
Restricted Interaction
Major Societal New Company

Forces Capabilities
Improved cost
Consumer efficiency Differentiate
Information Increased Goods
Competition
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Globalization
Disintermediation
Information Retail
Technology Restricted
Interaction Transformation
Major Societal Changing

Forces Channels
Consumer C Re-
Information me oun intermediation
Increased di ter
Competition at -
ion
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Mega
Brands
Private
Labels
Restricted
Interaction
Heightened
Competition
Deregulation
Privatization
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Who is Responsible for Marketing?

Entire Organization
Marketing Department
Chief Marketing Officer

(CMO)
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Company orientation toward Marketing
Quality Create, deliver, and

Innovation communicate value
Production Product Selling Marketing Holistic

Mass production
Unsought goods
Mass distribution
Overcapacity
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Holistic Marketing Dimensions
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Relationship Marketing
Build long-term relationships
CRM Customer Centricity
PRM
Develop marketing networks
……..
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Integrated Marketing
Create, communicate, and

deliver customer value
Stakeholder
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Internal Marketing
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Performance Marketing
Social Responsibility
Financial Accountability
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5
e 1.
ur
Fig The Four P’s of the Marketing Mix
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The Evolution of Marketing Mix
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Marketing Management Tasks
• Developing market strategies and plans

• Capturing marketing insights
• Connecting with customers
• Building strong brands
• Creating value
• Delivering value
• Communicating value
• Conducting marketing responsibly for long-term
success
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WE ARE DONE FOR THIS CHAPTER
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4/2/22

Defining Marketing for the New Realities

Prof. Muhammad Ismail Hossain

The Value of Marketing

Revenue Profits Giving

The Value of Marketing

The Value of Marketing

The Value of Marketing

The Value of Marketing

The Value of Marketing

The Scope of Marketing

Marketing is the activity, set of institutions, and

The Scope of Marketing

Marketing is the exchange of satisfaction

Market: A Simple Representation

Key Customer Markets

Business Markets Government Market

Core Marketing Concepts

Offerings and Brands

Core Marketing Concepts

Core Marketing Concepts

Marketing Environment: Task, Broad Competition

Core Marketing Concepts

Impression and Engagement

Value and Satisfaction

The New Marketing Realities

Major Societal New Customer

The New Marketing Realities

Major Societal New Company

The New Marketing Realities

Major Societal Changing

The New Marketing Realities

The New Marketing Realities

The New Marketing Realities

The New Marketing Realities

Who is Responsible for Marketing?

Chief Marketing Officer

Company orientation toward Marketing

Quality Create, deliver, and

Production Product Selling Marketing Holistic

The New Marketing Realities

Holistic Marketing Dimensions

Build long-term relationships

CRM Customer Centricity

Create, communicate, and

The Evolution of Marketing Mix

Marketing Management Tasks

• Developing market strategies and plans

WE ARE DONE FOR THIS CHAPTER

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