Transcript Lecture 1 - RUI-LMS

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Defining Marketing
for the 21st Century
A Framework for Marketing Management
International Edition
Chapter Questions
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Why is marketing important?
What is the scope of marketing?
What are some fundamental marketing
concepts and new marketing realities?
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.
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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.
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What is Marketed?
• Goods
• Services
• Events
• Experiences
• Persons
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What is Marketed?
• Places
• Properties
• Organizations
• Information
• Ideas
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Figure 1.1
A Simple Marketing System
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Key Customer Markets
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Consumer markets
Business markets
Global markets
Nonprofit/Government markets
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Core Concepts
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Needs, wants, and
demands
Target markets,
positioning,
segmentation
Offerings and
brands
Value and
satisfaction
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Marketing channels
Supply chain
Competition
Marketing
environment
Marketing planning
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Types of Needs
Stated
(the customer wants an inexpensive car)
Real
(the customer wants a car whose operating cost is low, not initial price)
Unstated
(the customer expects good service from the dealer)
Delight
(the customer would like the dealer to include a GPS navigation)
Secret
(the customer wants to bee seen by friends as a savvy consumer)
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Target Markets,
Positioning & Segmentation
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Offerings and Brands
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Value and Satisfaction
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Marketing Channels
Communication
Distribution
Service
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Marketing Environment
Demographic
Economic
Socio-cultural
Political-legal
Technological
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Natural
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Major Societal Forces
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Network information
technology
Globalization
Deregulation
Privatization
Heightened competition
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Industry convergence
Retail transformation
Disintermediation
Consumer buying power
Consumer participation
Consumer resistance
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Company Orientations
Production
Product
Selling
Marketing
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Holistic Marketing
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Relationship Marketing
Customers
Employees
Marketing Partners
Financial Community
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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
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Social Responsibility
Marketing
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Types of
Corporate Social Initiatives
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Corporate social marketing
Cause marketing
Cause-related marketing
Corporate philanthropy
Corporate community involvement
Socially responsible business practices
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The Marketing Mix
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The New Four Ps
People
Processes
Programs
Performance
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Marketing Management Tasks
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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
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For Review
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Why is marketing important?
What is the scope of marketing?
What are some fundamental marketing
concepts and new realities?
What are the tasks necessary for successful
marketing management?
Copyright © 2012 Pearson Education
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