Defining Marketing for the New Realities

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Presentation transcript:

Defining Marketing for the New Realities MKT 601:Chapter 01 Defining Marketing for the New Realities The Value of Marketing Marketing Decision making Winning Marketing The Scope of Marketing Goods Services Events Olympic Experiences Fantasy Kingdom Persons Celebrity Places Tourism Properties Stock Organizations Philips (Sense and Sensibility) Information Magazine Ideas Tree plantation MKT 601 CH 01 MNH

Marketers and Prospect Negative demand Nonexistent demand Who Markets Marketers and Prospect Negative demand Nonexistent demand Latent demand Declining demand Irregular demand Full demand Overfull demand Unwholesome demand MKT 601 CH 01 MNH

Nonprofit and Governmental Markets Key Customer Markets Consumer Markets Business Markets Global Markets Nonprofit and Governmental Markets Marketplaces, Market spaces and Metamarkets MKT 601 CH 01 MNH

Core Marketing Concepts Needs, Wants and Demands Stated needs (Inexpensive cars) Real needs (low operating costs car) Unstated needs (good service) Delight needs (Onboard navigation by dealer) Secret needs (Show others) Target markets, Positioning and Segmentation Offerings and Brands Marketing Channels (Communication, Distribution and Service) Paid, Owned and Earned media Impressions and Engagement Value and Satisfactions Supply chain Competition Marketing environment MKT 601 CH 01 MNH

The New Marketing Realities Technology Globalization Social Responsibility Marketing in Practice Marketing Balance Marketing Accountability Marketing in the Organization MKT 601 CH 01 MNH

Company orientation towards the marketplace The Production concept The Product concept The Selling concept The Marketing concept The Holistic Marketing concept MKT 601 CH 01 MNH

Relationship Marketing Aims to built mutually satisfying long-term relationship with Customers Employees Marketing partners Integrated Marketing Communication Product and Services Channels Internal Marketing Marketing department Senior management Other departments Performance Marketing Sales revenue Brand and customer equity Ethics Environment Legal Community MKT 601 CH 01 MNH

Marketing management tasks Developing Marketing strategies and plans Capturing Marketing insights Connecting with customers Building strong brands Creating Value Communicating value Delivering values Conducting marketing Responsibly for long-term success MKT 601 CH 01 MNH