Part 1: Understanding Marketing

Management
Chapter 1: Defining Marketing For The 21st
Century

Mateeullah Khan

BUITEMS
E-mail: mateeullahkhan@hotmail.com
Marketing Management 14 th Edition – A South Asian Perspective:
Kotler/Keller/Koshy/Jha
 Objective Outline

• Why is marketing important?

• What is the scope of marketing?

• What are some fundamental marketing concepts?

• How has marketing management changed?

• What are the tasks necessary for successful marketing management?

 Marketing is everywhere. Formally or informally, people
and organizations engage in a vast number of activities
that we call marketing.
 Good marketing has become an increasingly vital
ingredient for business success. And marketing
profoundly affects our day-to-day lives.
 It is embedded in everything we do from the clothes we
wear, to the Websites we click on, to the ads we see:
 Good Marketing is no accident, but a result of careful planning and
execution. It is both an Art and Science – there is a constant
tension between its formulated side and its creative side.
 Its easier to learn the formulated side, which will occupy most of
our attention in this book, but we will also describe how real
creativity and passion operate in many companies.
 In this chapter, we lay the foundation of our study by reviewing a
number of important marketing concepts, tools, frameworks, and
issues.
 The Importance Of Marketing
• Financial success often depends on marketing ability.

• All Departments and Business functions will not really matter if there isn’t
sufficient demand for products and services

• Many companies have now Chief Marketing Officer (CMO) position to put
marketing on more equal footing with other C-Level Executives.

• CEOs recognize the role of Marketing in building strong brands and a loyal
customer base, intangible assets that contribute heavily to the value of a firm.

• Marketing is tricky, however, and it has been the Achilles’ heel of many
formerly prosperous companies.

– Sears, Levi’s, General Motors, Kodak, Sony, and Xerox all have confronted newly
empowered customers and new competitors and have had to rethink their business
models.
 The Importance Of Marketing – Cont’d
• Marketers must decide what features to design into a new product or service,
what prices to set, where to sell products or offer services, and how much to
spend on advertising, sales, the Internet or mobile banking.

• They must make those decisions in an Internet-fueled environment where

consumers, competition, technology, and economic forces changes rapidly,
and the consequences of the marketer’s words and actions can quickly
multiply.
 The Scope Of Marketing
What is Marketing?
• Marketing is about identifying and meeting human and social needs.

• One of the shortest good definitions of Marketing is “Meeting Needs Profitably”

• The American Marketing Association defines; “Marketing is the activity, set of

institutions, and process of creating, communicating, delivering, and exchanging
offerings that have value for customers, clients, partners, and society at large”.

• The social definition of marketing is “Marketing is a societal process by which

individuals and groups obtain what they need and want through offering, and
freely exchanging products and services of value with others”.

• 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”.
Selling Is Only The Tip of the Iceberg

“There will always be need for

some selling. But the aim of marketing is to
make selling superfluous. The aim of
marketing is to know and understand the
customer so well that the product or
service fits him and sells itself. Ideally,
marketing should result in a customer who
is ready to buy. All that should be needed
is to make the product or service
available.”
Peter Drucker
 The Scope of Marketing
What is Marketed?
Goods
Goods –– Includes
Includesall
allphysical
physicalgoods
goods

Services
Services –– includes
includes work
work of
of airlines,
airlines, car
car rental
rental firms,
firms, bankers,
bankers, etc
etc

Events
Events &
& Experiences
Experiences –– Orchestrating
Orchestrating several
several services
services && goods
goods

Persons
Persons –– Includes
Includes celebrity
celebrity marketing
marketing

Places
Places && Properties
Properties –– Cities,
Cities,states,
states,regions,
regions,nations
nationscompete
competeto
toattract
attracttourists,
tourists,factories.
factories.
Properties
Propertiesare
areintangible
intangiblerights
rightsof
ofownership
ownershipof
ofeither
eitherreal
realproperty
propertyor
orfinancial
financialproperty
property

Organizations
Organizations––Actively
Activelywork
workto
tobuild
buildaastrong,
strong,favorable,
favorable,and
andunique
uniqueimage
imageinintarget
targetpublics
publicsmind.
mind.

Information
Information––Books,
Books,schools,
schools,&&universities
universitiesproduce,
produce,market,
market,and
anddistribute
distributeinformation
information

CHP: 1&5-9 Ideas

Ideas –– Every
Every marketing
marketing includes
includes aa basic
basic idea
idea
Examples of PLACE and IDEAS Marketing
PLACE Marketing IDEAS Marketing
 The Scope Of Marketing
Who Markets?
• Marketers and Prospects:
– A Marketer is someone who seeks a response – attention, a purchase, a vote, a
donation – from another party, called Prospects.

– If Two parties are seeking to sell something to each other, we call them both
Marketers.

– Marketing managers seeks to influence the level, timing, and composition of

demand to meet the organization’s objectives.

– Eight demands are possible;

1. Negative Demand: Consumer dislike product. May even pay a price to avoid it.

2. Nonexistent Demand: Consumers may be unaware of or uninterested in the

product.

3. Latent Demand: Consumer may share a strong need that cannot be satisfied by
existing product.
 The Scope Of Marketing
Who Markets? – Cont’d
• Marketers and Prospects: - Cont’d
4. Declining demand: Consumers buy less frequently or not at all.

5. Irregular demand: Consumers purchases vary on seasonal, monthly, weekly,

daily, or hourly basis.

6. Full demand: Consumers adequately buying all products put into the
marketplace.

7. Overfull demand: More consumers would like to buy the product that can be
satisfied

8. Unwholesome demand: Consumers may be attracted to product that have

undesirable social consequences.
 The Scope Of Marketing
Who Markets? – Cont’d
• Markets: Economist describe a market as “a collection of buyers and sellers who
transact over a particular product or product class”.

– Five basic Markets and their Connecting Flows are shown in Figure 1.1

• Manufacturers go to resource markets (raw material, labor, and money

markets), buy resources and turn them into goods and services, and then sell
finished products to intermediaries, who sell them to consumers.
• Consumers sell their labor and receive money with which they pay for goods
and services.
• Government collects tax revenues to buy goods from resource, manufacturer,
and intermediary markets and uses these goods and services to provide public
services.
• Each nation’s economy, and the global economy, consists of complex
interacting sets of markets linked through exchange processes.
Figure 1.1: Structure of Flows in a Modern Exchange
Economy
 The Scope Of Marketing
Who Markets? – Cont’d
• Markets: -cont’d

• Figure 1.2 shows the relationship between the industry and the market.

– Sellers and Buyers are connected by Four Flows.

– Seller sends goods and services and communications such as ads and direct mail to
the market;

– In return, they receive Money for goods and services;

– The outer loop shows an exchange of information

Figure 1.2: A Simple Marketing System
 The Scope Of Marketing
Who Markets? – Cont’d
• Key Customer Markets: It includes the following,
1. Consumer Markets: Companies Selling mass consumer goods and services such as
juices, cosmetics, and air travel spend a great deal of time establishing strong
brand image by developing a superior product and packaging, ensuring its
availability, and backing it with engaging communications and reliable service.

2. Business Markets: Companies selling goods and services often face well-informed
professional buyers skilled at evaluating competitive offerings. Business marketers
must demonstrate how their products will help achieve higher revenue or lower
costs.

3. Global Markets: Companies in global market place much decide which countries
to enter; how to enter each (as an exporter, joint venture partner, contract
manufacturer, licenser, or solo manufacturer.

4. Nonprofit and Government Markets: Companies selling to Nonprofit organizations

with limited purchasing power such as churches, temples, universities, and
government agencies needs to price carefully. Much government purchasing calls
for bids.
 The Scope Of Marketing
Who Markets? – Cont’d
• Key Customer Markets: -Cont’d

• Marketplaces, Marketspaces, and Metamarkets:

– Marketplace is a physical, such as store you Shop in;

– Marketspace is digital, as when you shop on the Internet.

– Metamarket is a cluster of complementary products and services that are closely

related in the minds of the consumers, but spread across a diverse set of
industries.

Example: Automobile Metamarket consists of automobile manufacturers, new car

and used car dealers, financing companies, insurance companies, mechanics,
spare parts dealers, service shops, auto magazines, classified auto ads in
newspapers, and auto sites on the internet.
 Marketing in Practice:
Functions For A CMO In Leading Marketing
• There are five key functions for a CMO in leading marketing within the
organization;

1. Strengthening the Brands

2. Measuring Marketing Effectiveness

3. Driving New Product Development based on customer needs

4. Gathering meaningful customer insights

5. Utilizing new Marketing Technology

 Core Marketing Concepts:
Core Concepts
• Needs, Wants, and Demands
• Target Markets, Positioning,
and Segmentation
• Offerings and Brands
• Value and Satisfaction
• Marketing Channels
• Supply Chain
• Competition
• Marketing Environment
• Need
– State of felt deprivation
– Example: Need food
• Wants
– The form of needs as shaped
by culture and the individual
personality
– Example: Want a Big Mac
• Demands
– Wants which are backed by
buying power
 Core Marketing Concepts:
Core Concepts • Marketers start by dividing
markets into Segments.
• Needs, wants, and demands
• Target Markets,
• Then marketer decides which
Positioning, and present the greatest opportunity –
Segmentation which are its Target Markets.
• Offerings and Brands
• Value and Satisfaction • For each, the firm develops a
• Marketing Channels Market Offering that it Positions in
the minds of the target buyers as
• Supply Chain
delivering some central belief(s)
• Competition
• Marketing Environment
 Core Marketing Concepts:
Core Concepts
• Needs, wants, and demands
• Target Markets,
Positioning, and
Segmentation
• Offerings and Brands
• Value and Satisfaction
• Marketing Channels
• Supply Chain
• Competition
• Marketing Environment
• Companies address needs by
putting forth a Value Proposition, a
set of benefits that they offer to
customers to satisfy their needs.
• A Brand is an offering from a
known source.
• All companies strive to build a
strong, favorable, and unique
Brand Image.
 Core Marketing Concepts:
Core Concepts
• Needs, wants, and demands
• Target Markets,
Positioning, and
Segmentation
• Offerings and Brands
• Value and Satisfaction
• Marketing Channels
• Supply Chain
• Competition
• Marketing Environment
• Value reflects the sum of the
perceived tangible and intangible
benefits and costs to customers.
• It’s primarily a combination of
Quality, Service, and Price, called
the “Customer Value Triad”.
• Satisfaction reflects a person’s
judgment of a product’s perceived
performance in relationship to
Expectations.
 Core Marketing Concepts:
Core Concepts
• Needs, wants, and demands
• Target Markets,
Positioning, and
Segmentation
• Offerings and Brands
• Value and Satisfaction
• Marketing Channels
• Supply Chain
• Competition
• Marketing Environment
•To reach a Target market, the Marketer
uses Three kinds of Marketing Channels
1.Communication channel deliver and
receive messages from target buyers and
include newspapers, magazines, radio,
television, mail, telephone, billboards, internet,
etc.
2.Marketers use Distribution Channels to
display, sell, or deliver the physical products or
service(s) to the buyer or user. It includes
distributor, wholesaler, retailer, and agents.
3.Service channels are used to carry out
transactions with potential buyers. It includes
warehouses, transportation companies, banks,
and insurance companies that facilitate
transactions.
 Core Marketing Concepts:
Core Concepts
• Needs, wants, and demands • The Supply Chain is a longer
• Target Markets, channel stretching from Raw
materials to components to final
Positioning, and
products that are carried to final
Segmentation buyers.
• Offerings and Brands
• Value and Satisfaction
• Marketing Channels
• Supply Chain
• Competition
• Marketing Environment
 Core Marketing Concepts:
Core Concepts
• Needs, wants, and demands • Competition includes all the Actual
• Target Markets, and Potential rival offerings and
substitutes a buyer might consider.
Positioning, and
Segmentation
• Offerings and Brands
• Value and Satisfaction
• Marketing Channels
• Supply Chain
• Competition
• Marketing Environment
 Core Marketing Concepts:
Core Concepts
• Needs, wants, and demands
• Target Markets,
Positioning, and
Segmentation
• Offerings and Brands
• Value and Satisfaction
• Marketing Channels
• Supply Chain
• Competition
• Marketing Environment
• Marketing environment consists of
the Task (specific) and the Broad
(general) environment.
1.Task Environment includes the
actors engaged in producing,
distributing, and promoting the
offering.
2.The Broad Environment consists of
demographic, economic, physical,
technological, political-legal, and
socio-cultural environment.
 The New Marketing Realities:
Major Societal Forces
• Marketers must attend and respond to a number of significant developments;

1. Major Societal Forces:

1. Network Information Technology:
• The digital revolution has created an Information Age.
• The Information Age promises to do more accurate levels of production, more
targeted communications, and more relevant pricing.

2. Globalization:
• Technological advances in transportation, shipping, and communication have
made it easier to market in other countries, and easier for consumers to buy
products and services from marketers in other countries.

3. Deregulation:
• Many countries have deregulated industries to create greater competition and
growth opportunities.
• In India, the domestic airline industry has been growing very rapidly after
deregulation, by offering different and better services to the customers
 The New Marketing Realities:
Major Societal Forces
1. Major Societal Forces: - Cont’d
4. Privatization:
• Many countries have converted public companies to private ownership and
management to increase their efficiency, such as British Airways and British
Telecom in UK.

5. Heightened Competition:
• Brand manufacturers are facing intense competition from domestic and
foreign brands, raising in rising promotion costs and shrinking profit margins.
• Powerful retailers that command limited shelf space and are putting out their
own store brands in competition with national brands.

6. Industry Convergence:
• Industry boundaries are blurring at incredible rate as companies are
recognizing that new opportunities lie at the intersection of two or more
industries.
• The computing and consumer electronics industries are converging as the
giants of the computer world, such as Sony, Dell, Gateway, and HP.
 The New Marketing Realities:
Major Societal Forces
1. Major Societal Forces: - Cont’d
7. Consumer Resistance:
• In 2004, Yankelovich study found record levels of marketing resistance from
consumers.
• Majority consumers reported negative opinions about marketing and
advertising, stating that they avoid products that they feel overmarket.

8. Retail transformation:
• Small retailers are succumbing to the growing power of giant retailers and
“category killers”.
• Store-based retailers face competition from catalog houses and e-commerce.
• Entrepreneurial retailers are building entertainment into their stores.

9. Disintermediation:
• Online dot-coms, such as AOL, Amazon.com, have created disintermediation
in the delivery of products and services by intervening between the traditional
flow of goods through distribution channels, struck terror into the hearts of
many established manufacturers and retailers.
 The New Marketing Realities:
Major Societal Forces
1. Major Societal Forces: - Cont’d
10. Consumer Buying Power:
• In part, due to Disintermediation via the Internet, consumers have
substantially increased their Buying Power. From anywhere, they can compare
product prices and features and order goods online, bypassing limited local
offerings and realizing significant price savings.

11. Consumer Information:

• Consumers can collect information in as much breadth and depth as they want
about particularly anything.
• They can access online encyclopedias, dictionaries, consumer reports,
newspapers, etc. Social networking sites bring together consumers with a
common interest

12. Consumer Participation:

• Consumers have found an amplified voice to influence peer and public opinion.
• In recognition, companies are inviting them to participate in designing an even
marketing offerings to heighten their sense of connection and ownership.
 The New Marketing Realities:
Major Societal Forces
1. Major Societal Forces: - Cont’d
13. Consumer Resistance:
• Many consumers today feel there are fewer real product differences, so they
show less brand loyalty and become more Price – and Quality-sensitive in their
search for value, and less tolerant about undesired marketing.
 Assignment # 1

• The Three major challenges faced by businesses today are

globalization, advances in technology, and deregulation. Which

of these affords the greatest opportunity for established

businesses? Which affords the greatest opportunities for new

businesses? Why?
 The New Marketing Realities:
New Consumer Capabilities
2. New Consumer Capabilities:
 Consumers today perceive fever real product differences and show less
brand loyalty, and becoming more price and quality sensitive in their
search for value.

Consider what consumers have today that they didn’t have yesterday.

– A substantial increase in buying power.

– A greater variety of available goods and services
– A greater amount of information about practically anything
– Greater ease in interacting and placing and receiving orders
– An ability to compare notes on products and services
– An amplified voice to influence peer and public opinions.
 The New Marketing Realities:
New Company Capabilities
3. New Company Capabilities:
New forces also have combined to generate a new set of capabilities for today’s
companies.
– Marketers can use internet as powerful information and sales channel, augmenting
their geographical reach to inform customers and promote their businesses and
products worldwide
– Researchers can collect fuller and richer information about markets, consumers,
prospects, and competitors
– Managers can facilitate and speed internal communication among their employees by
using Intranet.
– Target marketing and two-way communication are easier, thanks to proliferation of
special-interest magazines, TV channels, and Internet newsgroups.
– Marketers can send coupons, ads, samples, and information to customers who have
requested them or have given the company permission to send them.
 The New Marketing Realities:
New Company Capabilities
3. New Company Capabilities: - Cont’d

– Companies can reach consumers on the move with mobile marketing.

– Firms can produce individually differentiated goods, whether they’re ordered in

person, on the phone, or online.

– Managers can improve purchasing, recruiting, training, and internal and external

communications.

– Corporate buyers can achieve substantial savings by using the Internet to compare

sellers’ prices and to purchase materials at auction or by posting their own terms.

– Firms can also recruit new employees online, and many are also preparing

internet training products for download to employees, dealers, and agents.

 Company Orientation Toward The Marketplace:
• The Production Concept: Consumers will prefer products that are widely available
and inexpensive (affordable)
– Managers concentrate on achieving high production efficiency, low costs, and
mass distribution

• The Product Concept: Consumers favor products that offer the most quality,
performance, or innovative features.
– Managers focus on making superior products and improving them over time.

• The Selling Concept: Consumers will buy products only if the company
promotes/sells these products.
– Organizations must, therefore, undertake an aggressive selling and promotion
effort.

• The Marketing Concept:The marketing management philosophy that holds that

achieving organizational goals depends on knowing the needs and wants of target
markets and delivering the desired satisfactions better than competitors do.
 Company Orientation Toward The Marketplace:
• The Holistic Marketing Concept: This concept is based on the development,
design, and implementation of marketing programs, processes, and activities that
recognizes their breadth and interdependencies.

– Holistic marketing is thus an approach that attempts to recognize and reconcile

the scope and complexities of marketing activities.

– Figure 1.3 provides a schematic overview of four broad components

characterizing holistic marketing:

1. Relationship Marketing

2. Integrated Marketing

3. Internal marketing,

4. Performance Marketing
Figure 1.3: Holistic Marketing Dimensions
 Company Orientation Toward The Marketplace:
The Holistic Marketing Concept: - Cont’d

1.Relationship Marketing:

– It aims to build mutually satisfying long-term relationship with key constituents in

order to earn and retain their business.

– Four key constituents of relationship marketing are Customers, Employees,

Marketing Partners, and Members of Financial Community.

– A Marketing Network consists of the company and its supporting stakeholders –

customers, employees, suppliers, distributors, retailers, ad agencies, university
scientists, and others – with whom it has built mutually profitable business
relationships
 Company Orientation Toward The Marketplace:
The Holistic Marketing Concept: - Cont’d
2.Integrated Marketing:
– The marketer’s task is to devise marketing activities and assemble fully integrated
marketing programs to Create, Communicate, and Deliver value for consumers.

– McCarthy classified these activities as marketing-mix tools of Four broad kinds,

which he called the four Ps of marketing, Product, Price, Place, and Promotion.

– The particular marketing variables under each “P” are shown in Figure 1.4.

– Given the breadth, complexities and richness of marketing, however – as exemplified

by holistic marketing – clearly these four “Ps” are not the whole story anymore.

– If we Update them to reflect the Holistic Marketing Concept, we arrive at a more

representative set that encompasses modern marketing realities: People, Processes,
Programs, and Performance, as in Figure 1.5. (look for details of 4 Ps in your text book)
• These New Four Ps actually apply to all disciplines within the company, and by
thinking this way, managers grow more closely aligned with the rest of the
company.
Figure 1.4: The Four P Components of the
Marketing-Mix
Figure 1.5: The Evolution of Marketing Management
 Company Orientation Toward The Marketplace:
The Holistic Marketing Concept: - Cont’d
3. Internal Marketing: Internal marketing is the task of hiring, training, and motivating
able employees who want to serve customers well.

– Internal marketing must take place at two levels;

• At one level, the various marketing functions – sales force, advertising,

customer service, product management, marketing research – must work
together.

• At second level; other departments must embrace marketing: they must also
“Think Customer”
 Company Orientation Toward The Marketplace:
4. Performance Marketing:
– Holistic marketing incorporates Performance Marketing and understanding the
returns to the business from marketing activities and programs, as well as addressing
broader concerns and their legal, ethical, social, and environmental effects.

– Financial Accountability: Marketers are increasingly asked to justify their

investments to senior management in financial and profitability terms.

– Social Responsibility Marketing: The effects of marketing clearly extend beyond the
company and the customer to society as a whole.

• Marketers must carefully consider their role in broader terms, and the ethical,
environmental, legal, and social context of their activities.

• Societal Marketing concept holds that the organization’s task is to determine the
needs, wants, interests of target markets and to deliver the desired satisfaction
more effectively and efficiently than competitors in a way that preserves or
enhances the consumer’s and society’s long-term well-being.
 Marketing Management Tasks
• We will use the following situation to illustrate these tasks in the context of
the plan of the book.

Situation:
“ Zeus Inc, operates in several industries, including chemicals, cameras, and
film. The company is organized into SBUs, Corporate management is
considering what to do with its Atlas Camera division, which produces a
range of 35 mm and digital cameras. Although Zeus has a sizeable share and
is producing revenue, the 35 mm market is rapidly declining and its market
share is slipping. In the fast-growing digital camera segment, Zeus faces
competition and has been slow to gain sales. Zeus’s corporate management
wants Atlas’s marketing group to produce a strong turnaround plan for the
division.”
 Marketing Management Tasks
• Developing Marketing Strategies and Plans:
– First task facing Atlas is to identify its potential long-run opportunities, given its
market experience and core competencies.
– Atlas can design its cameras with better features.
– It can make a line of video cameras, or it can use its core competency in optics to
design a line of binoculars and telescopes.
– Whichever direction it chooses, it must develop concrete marketing plans that
specify the marketing strategy and tactics going forward.

• Capturing Marketing Insights:

– Atlas need reliable marketing information system to closely monitor its marketing
environment.
– Atlas also needs a dependable marketing research system.
– To transform marketing strategy into marketing programs, marketing managers
must measure market potential, forecast demand, and make basic decisions.
– To make these allocations, marketing managers may use sales-response functions
that show how the amount of money spend in each application will affect sales and
profits.
 Marketing Management Tasks
• Connecting With Customers:
– Atlas must consider how to best create value for its chosen target markets and
develop strong, profitable, long-term relationships with customers.
– To do so, it needs to understand;
• Consumer markets: Who buys cameras, and why do they buy? What are they
looking for in the way of features and prices, and where do they shop?
• Business markets: Atlas needs to gain a full understanding of how organizational
buyers buy.

• Building Strong Brands:

– Atlas must pay close attention to competitors, anticipating its competitors’ moves and
knowing how to react quickly and decisively.
– Atlas must also understand the strengths and weaknesses of the Zeus brand as
consumers see it.
• Is it 35 mm film heritage a handicap in the digital camera market?
• Should it position itself as a “Cadillac” brand, offering superior cameras at a premium
price with excellent service and strong advertising?
• Should it build a simple, low priced camera aimed at more price-conscious consumers?
• Or something in between?
 Marketing Management Tasks
• Shaping the Market Offerings:
– At heart of the marketing program is the product, which includes product quality,
design, features, and packaging.
– To gain a competitive advantage, Atlas may provide leasing, delivery, repair, and
training as part of its product offering.
– A critical marketing decision relates to price. Atlas must decide on wholesale and
retail prices, discounts, allowances, and credit terms.
– Its price should match well with the offer’s perceive value.

• Delivering Value:
– Atlas must also determine how to properly deliver to the target market the value
embodied in its products and services.
– Channel activities include those the company undertakes to make the product
accessible and available to target consumers.
– Atlas must identify, recruit, and link various marketing facilitators to supply its
products and services efficiently to the target market.
– It must understand the various types of retailers, wholesalers, and physical-
distribution firms and how they make their decisions.
 Marketing Management Tasks
• Communicating Value:
– Atlas must also adequately communicate to the target market the value embodied
by its products and services.
– It will need an integrated marketing communication program that maximizes the
individual and collective contribution of all communication activities.
– Atlas needs to set up mass communication programs consisting of advertising,
sales promotion, events, and public relations.
– It also need to plan more personal communication in the form of direct and
interactive marketing.
• Sustaining Growth and Value:
– Based on its product positioning, Atlas must initiate new-product development,
testing, and launching as part of its long-term view.
– The strategy should take into account changing global opportunities and
challenges.
– Finally, Atlas must build a marketing organization that’s capable of implementing
the marketing plan.
– Atlas will need feedback and control to understand the efficiency and effectiveness
of its marketing activities and how it can improve them.
THANKS