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Defining Marketing
for the 21st Century
Marketing Management, 13th ed
Introductions
Spend 5 minutes talking with the person
next to you and then be prepared to
answer 3 Questions on their behalf.
• Their name and Nationality
• Experience in Marketing
• What they expect from the Course ?
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Admin
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Description of the Course
Textbook
Allocation of Marks
Class Monitor
Groups
Break Times
Cell Phones: Off or Silent
Remember to sign the Register !
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Other Questions ?
Key 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
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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.
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
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Marketing is the Management Process
responsible for identifying, anticipating
and satisfying Customer needs
profitably.
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
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What is Marketed?
Goods
Services
Events & Experiences
Persons
Places & Properties
Organizations
Information
Ideas
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
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Figure 1.1 Structure of Flows in a Modern
Exchange Economy
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
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Figure 1.2 A Simple Marketing System
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
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Demand States
Negative
Declining
Full
Latent
Nonexistent
Irregular
Overfull
Unwholesome
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
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Function of Marketing
• Strengthening the brands
• Measuring marketing effectiveness
• Driving new product development
based on customer needs
• Gathering meaningful customer insights
• Utilising new marketing technology
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
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Figure 1.3 Improving Marketing
Success
• Make the mission and responsibilities clear
• Fit the rôle 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 organisation
• Require right-brain and left-brain skills
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
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Core Marketing Concepts
• Needs, wants, and
demands
• Target markets
• Positioning
• Segmentation
• Offerings and
Brands
• Value and
satisfaction
• Marketing channels
• Supply chain
• Competition
• Marketing
environment
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
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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
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
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The marketplace isn’t what it used to be…
Information technology
Globalization
Deregulation
Privatization
Competition
Convergence
Consumer resistance
Retail transformation
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
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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
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
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Company Orientations
Production
Product
Selling
Marketing
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
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Figure 1.4 Holistic Marketing Dimensions
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
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Figure 1.5 The Four P’s
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
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Internal Marketing
Internal marketing is the task of
hiring, training, and motivating able
employees who want to serve
customers well.
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
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Performance Marketing
• Financial
Accountability
• Social
Responsibility
Marketing
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
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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
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
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Marketing is the Management Process
responsible for identifying, anticipating
and satisfying Customer needs
profitably.
What is Marketed?
Goods
Services
Events & Experiences
Persons
Places & Properties
Organizations
Information
Ideas
A Simple Marketing System
Structure of Flows in a Modern Exchange
Economy
Functions of Marketing
• Strengthening the brands
• Measuring marketing effectiveness
• Driving new product development
based on customer needs
• Gathering meaningful customer insights
• Utilising new marketing technology
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 technology
Globalisation
Deregulation
Privatisation
Competition
Convergence
Consumer resistance
Retail 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
What Influences
Consumer Behaviour?
Cultural Factors
Social Factors
Personal Factors
Subcultures
Nationalities
Religions
Racial groups
Geographic regions
Social Factors
Reference
groups
Family
Social
roles
Statuses
Reference Groups
Membership groups
Primary groups
Secondary groups
Aspirational groups
Dissociative groups
Build-A-Bear Workshop Is A
Highly Successful, Innovative
Retailer
Source: Company Presentation for Investment Analysts, March 2006
[email protected]
[email protected]
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The Chief Executive Bear
Build-A-Bear is the brainchild of
Maxine Clark, who is known as
“Chief Executive Bear.” She
says the idea for the stores
came to her when she was
shopping for Beanie Babies
with a 10-year-old friend.
Maxine Clark
Chairman & Chief Executive
Bear
“I had been in the retail
business for many years,” she
says. “I felt it had gotten boring
and I wanted to put the fun back
in. What better way to appeal to
children, and the heart of a child
that's inside all of us?”
Source: http://www.oprah.com/tows/slide/200402/20040225/tows_slide_20040225_01.jhtml
[email protected]
[email protected]
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SWOT
Strengths & Weaknesses are Internal analysis and are all relative
to Competition.
Opportunities & Threats are External analysis
Do not include the same issue in multiple boxes !
Absolute Maximum of 7 in any box – focus on importance.
24-Mei-17
Strengths
Weaknesses
Opportunities
Threats
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24-Mei-17
Strengths
Weaknesses
Opportunities
Threats
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PEST Analysis
Political-Legal
Economic
Technological
Socio-Cultural
The Joy of Jargon
Use the correct jargon: Differentiation, Marketing Mix, Strap/Tag
Line, Holistic Marketing, Segmentation, Niche Strategy, Brand
Positioning etc. It is more concise and more specific, leaving less
room for confusion when used by professionals.