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1 Defining Marketing for the 21st Century:

1 Defining Marketing for the 21 st Century 1

Chapter Questions:

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? Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1- 2

What is Marketing?:

What is Marketing? Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1- 3 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.

What is Marketing Management?:

What is Marketing Management? Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1- 4 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 is Marketed?:

What is Marketed? Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1- 5 Goods/ commodity Services/ Car wash Events/ World Cup Experiences/ 40 ys. in business Persons

What is Marketed?:

What is Marketed? Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1- 6 Places/ Vegas Properties/ petra Organizations/ Human Rights Org Information/ how to stop smoking Ideas/ democracy

Demand States:

Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1- 7 Demand States Negative/ not liked Nonexistent/ not recognized Latent/ static Declining/ going down Irregular/ seasonal Unwholesome/ antidemand (antismoking) Full Overfull/ more than supply

Figure 1.1 Structure of Flows in Modern Exchange Economy:

Figure 1.1 Structure of Flows in Modern Exchange Economy Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1- 8

Figure 1.2 A Simple Marketing System:

Figure 1.2 A Simple Marketing System Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1- 9

Key Customer Markets:

Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1- 10 Key Customer Markets Consumer markets Business markets Global markets Nonprofit /Government markets Local market Regional market International market Profit market

Core Concepts:

Core Concepts Needs, wants, and demands Target markets, positioning, segmentation Offerings and brands Value and satisfaction Marketing channels Supply chain Competition Marketing environment Marketing planning Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1- 11

Types of Needs:

Types of Needs Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1- 12 Stated/ small car Real/ good on gas Unstated/ cheep Delight/ accessories for free Secret/ to be seen smart

Target Markets, Positioning & Segmentation:

Target Markets, Positioning & Segmentation Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1- 13

Offerings and Brands:

Offerings and Brands Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1- 14

Value and Satisfaction:

Value and Satisfaction Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1- 15

Marketing Channels:

Marketing Channels Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1- 16 Communication Distribution Service/ pre, pro, with selling

Marketing Environment:

Marketing Environment Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1- 17 Demographic Economic Socio-cultural Natural Technological Political-legal

Major Societal Forces:

Major Societal Forces Network information technology Globalization Deregulation/ changing regulations Privatization Heightened competition Industry convergence Retail transformation Disintermediation / not consistent Consumer buying power Consumer participation Consumer resistance Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1- 18

Company Orientations:

Company Orientations Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1- 19 Production Era/ 1850-1920 Product Era/1920-1950 Selling Era/ 1950-197- Marketing Era (social Marketing/ 1970-now

Holistic Marketing:

Holistic Marketing Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1- 20

Relationship Marketing (stakeholders):

Relationship Marketing (stakeholders) Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1- 21 Customers Employees Marketing Partners Financial Community

Integrated Marketing:

Integrated Marketing Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1- 22

Internal Marketing:

Internal Marketing Internal marketing is the task of hiring, training, and motivating able employees who want to serve customers well . Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1- 23

Performance Marketing :

Performance Marketing Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1- 24 Financial Accountability }}}}}}}}} Social Responsibility Marketing {{{{{{{{{

Types of Corporate Social Initiatives:

Types of Corporate Social Initiatives Corporate social marketing Cause marketing Cause-related marketing Corporate philanthropy Corporate community involvement Socially responsible business practices Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1- 25

The Marketing Mix:

The Marketing Mix Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1- 26

The New Four Ps:

The New Four Ps Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1- 27 Processes People Programs Performance

Marketing Management Tasks:

Marketing Management Tasks Develop market strategies and plans Capture marketing insights Connect with customers Build strong brands Shape market offerings Deliver value Communicate value Create long-term growth Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1- 28

For Review:

For Review 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? Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1- 29

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