MARKETING MANAGEMENT

12th edition
1
Defining Marketing
for the 21st Century

Kotler Keller
Chapter Questions
 Why is marketing important?
 What is the scope of marketing?
 What are some of the fundamental
marketing concepts?
 How has marketing management changed?
 What are the tasks necessary for
successful marketing management?

1-2
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.

1-3
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.

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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.

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What is Marketed?
 Goods  Places
 Services  Properties
 Events  Organizations
 Experiences  Information
 Persons  Ideas

1-6
Who markets?
 Marketers & Prospects
A marketer is someone who seeks a
response --- attention from another party,
called the prospect.

1-7
Demand States

Marketers are responsible for demand

management
 Negative  Irregular
 Nonexistent  Unwholesome
 Latent  Full
 Declining  Overfull

1-8
A simple marketing system
.
Communication

Goods/ Services

INDUSTRY MARKET

Money

Information

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Key Customer Markets
 Consumer markets
Superior product, packaging, availability, communication
 Business markets
Sales force, price, company reputation, quality
 Global markets
Which countries to enter & how to enter and adapt.
 Nonprofit/Government markets
Price carefully

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Marketplaces, Marketspaces, Metamarkets

 Marketplace : physical

 Marketspace : digital

 Metamarket : cluster of complimentary products &

services that are closely related in the minds of consumers,
but spread across a diverse set of industries.

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Marketing key functions
 Strengthening the brand
 Measuring marketing effectiveness
 Driving NPD based on customer insight
 Gathering meaningful customer insights
 Utilizing new marketing technology

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The marketplace isn’t what it used to be….

 Changing technology  Empowerment

 Globalization  Customization
 Deregulation  Convergence
 Privatization  Disintermediation

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Company Orientations
 Production
 Product
 Selling
 Marketing

Reactive & proactive marketing orientations

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Marketing Mix and the Customer

Four Ps Four Cs
 Product  Customer solution
 Price  Customer cost
 Place  Convenience
 Promotion  Communication

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Core Concepts
 Needs, wants, and  Marketing channels
demands  Supply chain
 Target markets,  Competition
positioning,  Marketing
segmentation
environment
 Offerings and brands  Marketing planning
 Value and
satisfaction

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I want it, I need it…..

5 Types of Needs
 Stated needs
 Real needs
 Unstated needs
 Delight needs
 Secret needs

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Marketing Management Tasks
 Developing marketing  Shaping market
strategies offerings
 Capturing marketing  Delivering value
insights  Communicating
 Connecting with value
customers
 Creating long-term
 Building strong brands
growth

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