What is Marketing?

• Marketing is managing profitable

customer relationships
 Attracting new customers
 Retaining and growing current
customers
• “Marketing” is NOT synonymous
with “sales” or “advertising”
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 What is Marketing?
• Kotler’s social definition:
“Marketing is a social and
managerial process by which
individuals and groups obtain
what they need and want
through creating and
exchanging products and
value with others.”

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What is Marketing?

Many Things Can Be

Marketed!
• Goods • Places
• Services • Properties
• Experiences • Organizations
• Events • Information
• Persons • Ideas
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 What is Marketing?

Core Marketing Concepts

• Needs, wants, • Value and
Desire and satisfaction
demands
• Marketing offers: • Exchange,
including transactions
products,
services and and
experiences relationships
• Markets
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 Marketing
Management
• Customer Management:
 Marketers select customers
that can be served well and
profitably.
• Demand Management:
 Marketers must deal with
different demand states
ranging from no demand to
too much demand. 1-5
 Marketing
Marketing
Management
Management
Management Orientations
• Production • Selling
concept concept
• Product • Marketing
concept concept
• Societal marketing concept

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Marketing Challenges
• Technological advances, rapid
globalization, and continuing
social and economic shifts are
causing marketplace changes.
• Major marketing developments
can be grouped under the
theme of Connecting.

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Marketing Challenges
Connecting • Advances in computers,
telecommunications,
video-conferencing, etc.
• Via technology are major forces.
 Databases allow for
• With customers customization of
products, messages
and analysis of needs.
• With marketing • The Internet
partners  Facilitates anytime,
anywhere connections
• With the world  Facilitates CRM
 Creates marketspaces

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Marketing Challenges
Connecting • Selective relationship
management is key.
 Customer profitability
• Via technology analysis separates
winners from losers.
• With customers • Growing “share of
customer”
• With marketing  Cross-selling and up-
partners selling are helpful.
• Direct sales to
• With the world buyers are growing.

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Marketing Challenges
Connecting • Partner relationship
management
involves:
• Via technology
 Connecting inside
• With customers the company
 Connecting with
• With marketing outside partners
partners  Supply chain
management
• With the world  Strategic alliances

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Marketing Challenges
• Globalization
Connecting  Competition
 New opportunities
• Via technology • Greater concern for
environmental and
• With customers social responsibility
• With marketing • Increased marketing
by nonprofit and
partners public-sector entities
 Social marketing
• With the world campaigns

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