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MARKETING MANAGEMENT
12th edition
1
Defining
Marketing
for the
21st Century
Kotler
Keller
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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Selling is only the tip of the iceberg
“There will always be need for
some selling. But the aim of marketing
is to make selling superfluous. The aim
of marketing is to know and understand
the customer so well that the product or
service fits him and sells itself. Ideally,
marketing should result in a customer
who is ready to buy. All that should be
needed is to make the product or
service available.”
Peter Drucker
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For an exchange to occur….
• There are at least two parties.
• Each party has something that might be of
value to the other party.
• Each party is capable of communication
and delivery.
• Each party is free to reject the exchange
offer.
• Each party believes it is appropriate or
desirable to deal with the other party.
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What is Marketed?
Goods
Services
Events & Experiences
Persons
Places & Properties
Organizations
Information
Ideas
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Marketing Goods
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Marketing Ideas:
Friends Don’t Let Friends
Drive Drunk
This is the watch
Stephen Hollingshead, Jr.
was wearing when he
encountered a drunk
driver.
Time of death 6:55 p.m.
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Figure 1.1 Structure of Flows in a
Modern Exchange Economy
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Figure 1.2 A Simple Marketing System
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Global Markets
Coke is
represented at the
first China
International
Beverage Festival
in Beijing in 2003
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Company Orientations
Production
Product
Selling
Marketing
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Figure 1.3 Holistic Marketing Dimensions
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Figure 1.4 The Four P’s
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Marketing Mix and the Customer
Four P’s
• Product
• Price
• Place
• Promotion
Four C’s
• Customer solution
• Customer cost
• Convenience
• Communication
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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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Figure 1.6 Factors Influencing
Marketing Strategy
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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
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Marketing Debate
Does Marketing
Create or Satisfy Needs?
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What Motivates a Consumer
to Take Action?
• Needs - states of felt deprivation including
physical needs for food, social needs for
belonging and individual needs for selfexpression. i.e. I am thirsty.
• Wants - form that a human need takes as shaped
by culture and individual personality. i.e. I want a
Coca-Cola.
• Demands - human wants backed by buying
power. i.e. I have money to buy a Coca-Cola.
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