6aug08Slide 1 of 24 Defining Marketing for the 21 st Century Marketing Management, 13 th ed Marketing Management

Slide 2 of 24 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. Stephen Ginns6aug08 Marketing is meeting customers’ needs profitably

Slide 3 of 24 What is Marketing Management? Stephen Ginns6aug08 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.

Slide 4 of 24 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.

Slide 5 of 24 What is Marketed? Goods Services Events & Experiences Persons Places & Properties Organizations Information Ideas Stephen Ginns6aug08

Slide 6 of 24 Structure of Flows in a Modern Exchange Economy Stephen Ginns6aug08

Slide 7 of 24 Figure 1.2 A Simple Marketing System Stephen Ginns6aug08

Slide 8 of 24 Demand States Nonexistent Latent Declining Irregular Full UnwholesomeOverfull Negative Stephen Ginns

Slide 9 of 24 Key Customer Markets Consumer markets Business markets Global markets Nonprofit/Government markets. Stephen Ginns

Slide 10 of 24 Company Orientations Production SellingMarketing Product Stephen Ginns6aug08

Slide 11 of 24 Figure 1.4 Holistic Marketing Dimensions Stephen Ginns6aug08

Slide 12 of 24 The Four P’s Stephen Ginns6aug08

Slide 13 of 24 Marketing Mix and the Customer Four Ps Product Price Place Promotion Physical Evidence People Process Packaging Four Cs Customer solution Customer cost Convenience Communication.

Slide 14 of 24 Internal Marketing Internal marketing is the task of hiring, training, and motivating able employees who want to serve customers well. Stephen Ginns6aug08Slide 14 of 24

Slide 15 of 24 Core Marketing Concepts Needs, wants, and demands Target markets, positioning, segmentation Offerings and brands Value and satisfaction Marketing channels Supply chain Competition Marketing environment. Stephen Ginns6aug08Slide 15 of 24

Slide 16 of 24 I want it, I need it… Five Types of Needs Stated needs Real needs Unstated needs Delight needs Secret needs. Stephen Ginns6aug08Slide 16 of 24

Slide 17 of 24 The New Player Order

Slide 18 of 24 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. Stephen Ginns6aug08

Slide 19 of 24 Performance Marketing Financial Accountability Social Responsibility Marketing Social Initiatives Corporate social marketing Cause marketing Corporate philanthropy Corporate community involvement Socially responsible business practices Stephen Ginns6aug08Slide 19 of 24

Slide 20 of 24 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 Stephen Ginns6aug08Slide 20 of 24