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, com-

municating, and delivering value to customers and for managing customer relation-
ships 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 charita-
ble organizations.
• Information: Magazines
 Types of Demand
• Negative
8 Demand States
• Irregular
• Declining
• Nonexistent
• Latent
• Full
• Overfull
• Unwholesome
 • Negative demand Consumers dislike the product and may even
pay a price to avoid it.

• Nonexistent demand Consumers may be unaware of or unin-

terested in the product.

• Latent demand Consumers may share a strong need that cannot

be satisfied by an existing product.

• Declining demand Consumers begin to buy the product less

frequently or not at all.

Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 7 of 25

 • Irregular demand Consumer purchases vary on a seasonal, monthly,
weekly, daily, or even hourly basis.

• Full demand Consumers are adequately buying all products put into the
marketplace.

• Overfull demand More consumers would like to buy the product than can
be satisfied.

• Unwholesome demand Consumers may be attracted to products that have

undesirable social consequences.

Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 8 of 25

 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 of-
fers 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