Defining Marketing for the 21st Century docx

Defining Marketing
for the 21
st
Century
Marketing Management, 13
th
ed
1
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
1-2
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 © 2009 Pearson Education, Inc. Publishing as Prentice Hall
1-3
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.
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
1-4
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.
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
1-5
What is Marketed?
•
Goods
•
Services
•
Events and
experiences
•
Persons
•
Places and
properties
•
Organizations
•

Information
•
Ideas
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1-6
Demand States
•
Negative
•
Nonexistent
•
Latent
•
Declining
•
Irregular
•
Unwholesome
•
Full
•
Overfull
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1-7
Key Customer Markets
•
Consumer markets
•
Business markets
•

Global markets
•
Nonprofit/Government markets
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1-8
Company Orientations
•
Production
•
Product
•
Selling
•
Marketing
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1-9
Marketing Mix and the Customer
Four Ps
•
Product
•
Price
•
Place
•
Promotion
Four Cs
•
Customer
solution

•
Customer cost
•
Convenience
•
Communication
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1-10
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
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1-11
Marketing Management Tasks
•
Developing
marketing
strategies
•
Capturing marketing
insights
•
Connecting with
customers
•
Building strong
brands
•
Shaping market
offerings
•
Delivering value
•
Communicating
value
•

Creating long-
term growth
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
1-12
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
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
1-13
Figure 1.3 Improving CMO Success
(cont.)
•
Make the mission and responsibilities clear
•
Fit the role to the marketing culture and
structure
•
Ensure the CMO is compatible with the CEO
•
Remember that show people don’t succeed
•

Match the personality with the CMO type
•
Make line managers marketing heroes
•
Infiltrate the line organization
•
Require right-brain and left-brain skills
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1-14
New Consumer Capabilities
•
A substantial increase in buying power
•
A greater variety of available goods and
services
•
A great 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 public opinion
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
1-15
Internal Marketing
Internal marketing is the task of hiring,

training, and motivating able employees who
want to serve customers well.
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1-16
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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1-17
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