1. 1 Defining Marketing for the 21 st Century 1

2. Chapter Questions  Why is marketing important?  What is the scope of marketing?  What are some fundamental marketing concepts?  How has marketing management changed?  What are the tasks necessary for successful marketing management? Copyright © 2012 Pearson Education 1-2

3. What is Marketing? Copyright © 2012 Pearson Education 1-3 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.

4. What is Marketing Management? Copyright © 2012 Pearson Education 1-4 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.

5. What is Marketed? Copyright © 2012 Pearson Education 1-5 Goods Services Events Experiences Persons

6. What is Marketed? Copyright © 2012 Pearson Education 1-6 Places Properties Organizations Information Ideas

7. Copyright © 2012 Pearson Education 1-7 Demand States  Negative  Nonexistent  Latent  Declining  Irregular  Unwholesome  Full  Overfull

8. Figure 1.1 Structure of Flows in Modern Exchange Economy Copyright © 2012 Pearson Education 1-8

9. Figure 1.2 A Simple Marketing System Copyright © 2012 Pearson Education 1-9

10. Copyright © 2012 Pearson Education 1-10 Key Customer Markets  Consumer markets  Business markets  Global markets  Nonprofit/Government markets

11. Core Concepts  Needs, wants, and demands  Target markets, positioning, segmentation  Offerings and brands  Value and satisfaction  Marketing channels  Supply chain  Competition  Marketing environment  Marketing planning Copyright © 2012 Pearson Education 1-11

12. Types of Needs Copyright © 2012 Pearson Education 1-12 Stated Real Unstated Delight Secret

13. Target Markets, Positioning & Segmentation Copyright © 2012 Pearson Education 1-13

14. Offerings and Brands Copyright © 2012 Pearson Education 1-14

15. Value and Satisfaction Copyright © 2012 Pearson Education 1-15

16. Marketing Channels Copyright © 2012 Pearson Education 1-16 Communication Distribution Service

17. Marketing Environment Copyright © 2012 Pearson Education 1-17 DemographicEconomic Socio-cultural Natural Technological Political-legal

18. Major Societal Forces  Network information technology  Globalization  Deregulation  Privatization  Heightened competition  Industry convergence  Retail transformation  Disintermediation  Consumer buying power  Consumer participation  Consumer resistance Copyright © 2012 Pearson Education 1-18

19. Company Orientations Copyright © 2012 Pearson Education 1-19 Production Product Selling Marketing

20. Holistic Marketing Copyright © 2012 Pearson Education 1-20

21. Relationship Marketing Copyright © 2012 Pearson Education 1-21 Customers Employees Marketing Partners Financial Community

22. Integrated Marketing Copyright © 2012 Pearson Education 1-22

23. Internal Marketing Internal marketing is the task of hiring, training, and motivating able employees who want to serve customers well. Copyright © 2012 Pearson Education 1-23

24. Performance Marketing Copyright © 2012 Pearson Education 1-24 Financial Accountability Social Responsibility Marketing

25. Types of Corporate Social Initiatives  Corporate social marketing  Cause marketing  Cause-related marketing  Corporate philanthropy  Corporate community involvement  Socially responsible business practices Copyright © 2012 Pearson Education 1-25

26. The Marketing Mix Copyright © 2012 Pearson Education 1-26

27. The New Four Ps Copyright © 2012 Pearson Education 1-27 Processes People Programs Performance

28. 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 Copyright © 2012 Pearson Education 1-28

29. For Review  Why is marketing important?  What is the scope of marketing?  What are some fundamental marketing concepts?  How has marketing management changed?  What are the tasks necessary for successful marketing management? Copyright © 2012 Pearson Education 1-29