Download Defining Marketing for the 21st Century

1
Defining Marketing
for the 21st Century
Marketing Management, 13th ed
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?
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Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
Good Marketing is No Accident
Starbucks plans to
ensure its marketing
successes in
countries around the
world.
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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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Selling is only the tip of the iceberg
“There will always be a 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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What is Marketed?
Goods
Services
Events & Experiences
Persons
Places & Properties
Organizations
Information
Ideas
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Successful New Product Launches
Require Careful Planning
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Marketing Can Promote Ideas
1-9
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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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Demand States
Negative
Nonexistent
Declining
Full
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Latent
Irregular
Overfull
Unwholesome
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Key Customer Markets
Consumer Markets
Business Markets
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Global Markets
Nonprofit/ Government Markets
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Edmunds.com:
A Metamediary Website
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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
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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
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Core Marketing Concepts
• Needs, wants, and
demands
• Target markets,
positioning,
segmentation
• Offerings and
brands
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• Value and
satisfaction
• Marketing channels
• Supply chain
• Competition
• Marketing
environment
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I want it, I need it…
Five Types of Needs
•
•
•
•
•
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Stated needs
Real needs
Unstated needs
Delight needs
Secret needs
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The marketplace isn’t what it used to be…
Information technology
Globalization
Deregulation
Privatization
Competition
Convergence
Consumer resistance
Retail transformation
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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
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Company Orientations
1-21
Production
Product
Selling
Marketing
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Figure 1.4 Holistic Marketing Dimensions
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RBC emphasizes a
relationship marketing approach
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Figure 1.5 The Four P’s
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Carnival uses
online marketing activities
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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
• Social
Responsibility
Marketing
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Social Initiatives
• Corporate social
marketing
• Cause marketing
• Corporate philanthropy
• Corporate community
involvement
• Socially responsible
business practices
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
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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Marketing Debate:
Take a Position!
Does marketing shape consumer needs?
or
Does marketing merely reflect the needs
and wants of consumers?
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Marketing Discussion
Consider the societal forces noted in
the chapter (e.g., information
technology, globalization, deregulation,
consumer resistance, retail
transformation).
How have marketing practices shifted
to accommodate and even leverage
these forces?
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Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall