Khoanhd chapter01 introduction to marketing

Defining Marketing for the
New Realities


ON THE BALCONY

Lectured by Khoa Nguyen


Definition of Marketing

Marketing Process

Topic
Outline

• Understand the Marketplace and Customer Needs
• Designing a Customer-Driven Marketing Strategy
• Preparing an Integrated Marketing Plan and Program
• Building Customer Relationships
• Capturing Value from Customers

3. The changing Marketing Landscape


I. Definition of
Marketing


Marketing is...
• The process of planning and executing the conception, pricing, promotion

and distribution of ideas, goods and services to create exchange and satisfy
individual and organizational objectives. (AMA, 1985)
• The management process responsible for identifying, anticipating, and
satisfying customer requirements profitably. (CIM, 2001)
• The process by which companies create value for customers and build
strong customer relationships in order to capture value from customers in
return (Kotler & Amstrong, 2013)


Questions:
• Examples of which and how organizations create value for customers and
build strong customer relationships
• Whether has the marketing definition been changed in the era of 4.0?


Critical thinking
questions
1.

Is it possible to say marketing is an effort
that make the selling unnecessary?


Critical thinking
questions
2. Do non-profit
organizations perform
marketing?

II. Marketing
Process


A real-life marketing process


Understand the marketplace
and customer Needs


Need

Want

deprivation

Demand

form needs take as
they are shaped by
culture and
individual
personality


Need

Want

Question:
•How to understand
customers’ needs,
wants, and demands?


MARKET
OFFERINGS
• customers’ needs and
wants are fulfilled by
combination of products,
services, information, or
experiences offered to a
market to satisfy a need or
want.


Question:

•Do marketing offerings only
include products?


Marketing is also about

Exchange

GOODS

PAYMENT

Marketer

Customer


Market


Designing a Customer-Driven
Marketing Strategy


Customer driven marketing Strategy

MARKETING MANAGEMENT

SELECTING CUSTOMERS

CHOOSE VALUE PROPOSITION


Marketing management


Selecting customers

Segmentation
Targeting

Value
proposition


The development of marketing through time

PRODUCTION
CONCEPT

PRODUCT
CONCEPT

SELLING
CONCEPT

MARKETING
CONCEPT

SOCIETAL
MARKETING
CONCEPT


Production Concept
Consumers will favor products that are available
and affordable

Problem: Too

much focus on
operation