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Defining Marketing for the 21st Century

Marketing Management, 13th ed

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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?


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.


What is Marketing Management?

Marketing management is theart and science

of choosing target markets and getting, keeping, and growing

customers throughcreating, delivering, and communicating

superior customer value.


What is Marketed?

GoodsGoods

ServicesServices

Events & ExperiencesEvents & Experiences

PersonsPersons

Places & PropertiesPlaces & Properties

OrganizationsOrganizations

InformationInformation

IdeasIdeas


Figure 1.1 Structure of Flows in a Modern Exchange Economy


Figure 1.2 A Simple Marketing System


Demand States

Nonexistent Latent

Declining Irregular

Full UnwholesomeOverfull

Negative


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


Figure 1.3 Improving CMO Success

• 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


Core Marketing Concepts

• Needs, wants, and demands

• Target markets, positioning, segmentation

• Offerings and brands

• Value and satisfaction

• Marketing channels• Supply chain• Competition• Marketing

environment


I want it, I need it…

Five Types of Needs

• Stated needs• Real needs• Unstated needs• Delight needs• Secret needs


The marketplace isn’t what it used to be…

Information technologyInformation technology

GlobalizationGlobalization

DeregulationDeregulation

PrivatizationPrivatization

CompetitionCompetition

ConvergenceConvergence

Consumer resistanceConsumer resistance

Retail transformationRetail transformation


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


Company Orientations

Production

Selling Marketing

Product


Figure 1.4 Holistic Marketing Dimensions


Figure 1.5 The Four P’s


Internal Marketing

Internal marketing is the task of hiring, training, and motivating able

employees who want to serve customers well.


Performance Marketing

• Financial Accountability

• Social Responsibility Marketing

Social Initiatives• Corporate social

marketing• Cause marketing• Corporate philanthropy• Corporate community

involvement• Socially responsible

business practices


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

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