Defining Marketing for the 21st Century

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Presentation transcript:

Defining Marketing for the 21st Century CHAPTER I Phillipe Kotler & Kevin Lane Keller

The Objectives You will be able to: Understand the principle concepts of marketing Compare 5 concepts of marketing Explain business portfolio and its growth strategic Understand the Marketing Management Task

What is Marketing? An organizational function and set of process for creating, communicating and delivering value to customers and for managing relationships in ways that benefit the organizational and stakeholders A societal process by which individuals and groups obtain what they need and want through creating, offering and freely exchanging products and services value with others

Marketing Management The art and science that choosing target markets and getting, keeping and growing through creating, delivering and communicating superior customer values

Marketing is not Selling

Marketing is not just Advertising

Fundamental Marketing Concepts, Trend and Task Core Concepts: Needs, Wants, Demands Segmentation, Positioning, Targeting Offering and Brands Value and Satisfaction Marketing Channel Supply Chain Competition Marketing Environment Marketing Planning

What is Marketed? Goods Services Events Experiences Persons Places Properties Organizations Information Ideas

Who Markets? Marketers & Prospect 8 Demand states: Negative Demand Nonexistent Demand Latent Demand Declining Demand Irregular Demand Full Demand Overfull Demand Unwholesome Demand

Structure of Flows in a Modern Exchange Economy

Marketing Concepts Production Concept Product Concept Selling Concept Holistic Marketing Concept

Production Concept: holds that consumers will prefer products that are widely available and inexpensive Product Concept: holds that consumers will favor those product that offer the most quality, performance or innovative features Selling Concept: holds that consumers and business, if left alone will ordinarily not buy enough of the organization’s product Marketing Concept: holds that the key to achieving its organizational goals consists of the company being more effective than competitors in creating, delivering and communicating superior customers value to its chosen target market

The Holistic Marketing Concept

Marketing Management Tasks Developing Marketing Strategy and Plans Capturing Marketing Insights Connecting with Customers Building Strong Brands Shaping the Marketing Offerings Delivering Value Communicating Value Creating Long-term growth bla bla bla