Professional Documents
Culture Documents
Week 1
Defining Marketing for the 21st Century
Module Resources
www.sginns.co.uk Marketing Management European Edition Kotler, Keller, Brady, Goodman, Hansen (Essentials of) Marketing Strategy Blythe The Marketing Casebook Cases and Concepts Sally Dibb & Lyndon Simkin Using and Interpreting Company Accounts Wendy McKenzie Strategic Marketing Problems Roger Kerin and Robert Peterson
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www.sginns.co.uk
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Chapter Questions
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?
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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. Marketing is meeting customers needs profitably
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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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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
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What is Marketed?
Goods Services
Events & Experiences Persons Places & Properties Organizations Information Ideas
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Demand States
Negative Nonexistent Latent
Declining
Irregular
Full
Overfull
Unwholesome
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Consumer markets
Business markets Global markets Nonprofit/Government markets.
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Functions of CMOs
Strengthening the brands Measuring marketing effectiveness Driving new product development based on customer needs Gathering meaningful customer insights Utilizing new marketing technology.
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Company Orientations
Production
Product
Selling
Marketing
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The Four Ps
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Internal Marketing
Internal marketing is the task of hiring, training, and motivating able employees who want to serve customers well.
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Performance Marketing
Financial Accountability Social Responsibility Marketing Social Initiatives Corporate social marketing Cause marketing Corporate philanthropy Corporate community involvement Socially responsible business practices
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Seminar Content
Introduction to Module Revision of Introductory Concepts The Marketing Gurus are they still valid in an Internet-enabled world? Marketing Milestones an overview of the history of Marketing Mission and Vision.
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