Chapter 1 Marketing in the Twenty-first Century Marketing Management

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Presentation transcript:

Chapter 1 Marketing in the Twenty-first Century Marketing Management Tenth Edition Philip Kotler

Objectives Course Organization Tasks of Marketing Major Concepts & Tools of Marketing Marketplace Orientations Marketing’s Responses to New Challenges

Course/Text Organization Part I - Understanding Marketing Management Part II - Analyzing Marketing Opportunities Part III - Developing Marketing Strategies Part IV - Shaping the Market Offering Part V - Managing & Delivering Marketing Programs

Defining Marketing Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others. - Philip Kotler (p. 7)

Core Concepts of Marketing Target Markets & Segmentation Needs, Wants, and Demands Product or Offering Value and Satisfaction Exchange and Transactions Relationships and Networks Marketing Channels Supply Chain Competition Marketing Environment

Simple Marketing System Communication Industry (a collection of sellers) Market of Buyers) Goods/services Money Information

Structure of Flows Resource markets Government markets Manufacturer Resources Resource markets Money Taxes Taxes, goods Services, money Government markets Services Manufacturer markets Consumer markets Intermediary Goods, services Money

The Four Ps The Four Cs Marketing Mix Product Place Promotion Price Conven- ience Customer Solution Customer Cost Communication

Company Orientations Towards the Marketplace Consumers prefer products that are widely available and inexpensive Production Concept Consumers favor products that offer the most quality, performance, or innovative features Product Concept Consumers will buy products only if the company aggressively promotes/sells these products Selling Concept Focuses on needs/ wants of target markets & delivering value better than competitors Marketing Concept

Customer Delivered Value Factory Existing products Selling and promotion Profits through sales volume Starting point Focus Means Ends (a) The selling concept Market Integrated marketing Profits through customer satisfaction Customer needs (b) The marketing concept

Traditional Organization Chart Top Management Middle Management Front-line people Customers

Customer-Oriented Organization Chart Customers Front-line people Customers Middle management Top management

Evolving Views of Marketing’s Role b. Marketing as a more important function Finance Human resources Marketing Production a. Marketing as an equal function Finance Production Marketing Human resources

Evolving Views of Marketing’s Role c. Marketing as the major function Marketing Finance resources Human Production d. The customer as the controlling factor Customer Human resources Finance Production Marketing

Evolving Views of Marketing’s Role e. The customer as the controlling function and marketing as the integrative function Customer Marketing Production resources Human Finance

Review Course Organization Tasks of Marketing Major Concepts & Tools of Marketing Marketplace Orientations Marketing’s Responses to New Challenges