CHAPTER 1 MARKETING IN THE TWENTY- FIRST CENTURY.

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Presentation transcript:

CHAPTER 1 MARKETING IN THE TWENTY- FIRST CENTURY

Important Topic of This Chapter n Core marketing Concept. n Company orientation toward marketplace

SCOPE OF MARKETING TASKS n Goods n Services n Experiences n Events n Persons-celebrities n Places n Properties-real estate n Organizations-corporate identity n Information-encyclopedia n Ideas-sells hope

MARKETING DECISIONS n Consumer market n Business market n Global market n Nonprofit and governmental market

CORE MARKETING CONCEPTS Marketing is a social and managerial process by which individuals and groups obtain what they need and want through offering, and exchanging product value with others. n Target market and segmentation sellers buyers sellers buyers n Marketing and prospects: »Someone sells and another person buys n Needs, Wants and Demands: » Responsive Marketing » Anticipative Marketing » Creative marketing n Product Vs offerings

MARKETING CONCEPTS (CONT.) n Value, Cost and Satisfaction: Exchange process » Value to customer » Benefit and cost analysis n Relationship Marketing and Networks n Markets: »Where all buyers and sellers meet to satisfy their needs n Marketing Channels: » Communication channels(TV, magazines) » Dialogue Channels( s) » Monologue channels(ads) » Distribution channels

CORE MARKETING CONCEPTS (CONT.) n Value and satisfaction: »Products offer value and satisfaction customers assume costs n Exchange and transaction: »There are at least two parties n Relationship and networks »Stakeholders n Marketing channels: »Communication channels »Dialogue channels »Monologue channels »Distribution channels n Supply Chain » Value delivery system n Competition » Brand competition » Industry competition » Form competition » Generic competition n Marketing environment n Marketing Mix

COMPANY ORIENTATIONS TOWARD MARKETING n The Production Concept( ): » Good quality products with low cost. n The Product Concept( ) » Performance, features and product quality. n The Selling Concept(1950’s): » Aggressive selling and promotion n The Marketing Concept (1970s) » Customer satisfaction: n Target Market-1990’s

ORIENTATIONS TOWARD MARKETING (CONT.) –Customer Needs-customer buys hope: n responsive marketing n creative marketing(Sony) n customer retention n customer attractions –Integrated marketing n marketing functions work together n External marketing: – Directed to people outside of company. n Internal: – marketing must be well coordinated with other departments in the company

ORIENTATION TOWARD MARKETING (CONT.) –Profitability-goal achievement. » Implementing marketing concept n Sales decline, slow growth, changing buying habits, increased competition, higher marketing expenditures. n Problems in marketing oriented company: – Organized resistance from finance, R&D, and manufacturing – Slow learning – Fast forgetting.

ORIENTATIONS TOWARD MARKETING (CONT.) n The Societal Marketing Concept(1980s): » Ben & Jerry Ice Cream n Company Responses and Adjustment » Reengineering: n managed by multidiscipline teams » Outsourcing » E-commerce » Benchmarking » Alliances » Partner-suppliers » Market centered » Global and local » Decentralized