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Chapter 1 Marketing in the Twenty-first Century Marketing Management
Tenth Edition Philip Kotler
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Objectives Course Organization Tasks of Marketing
Major Concepts & Tools of Marketing Marketplace Orientations Marketing’s Responses to New Challenges
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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
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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)
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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
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Simple Marketing System
Communication Industry (a collection of sellers) Market of Buyers) Goods/services Money Information
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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
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The Four Ps The Four Cs Marketing Mix Product Place Promotion Price
Conven- ience Customer Solution Customer Cost Communication
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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
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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
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Traditional Organization Chart
Top Management Middle Management Front-line people Customers
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Customer-Oriented Organization Chart
Customers Front-line people Customers Middle management Top manage- ment
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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
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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
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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
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Review Course Organization Tasks of Marketing
Major Concepts & Tools of Marketing Marketplace Orientations Marketing’s Responses to New Challenges
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