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 © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-2

3. What is Marketing? Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 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 © 2011 Pearson Education, Inc. Publishing as Prentice Hall 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 © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-5 Goods Services Events Experiences Persons

6. What is Marketed? Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-6 Places Properties Organizations Information Ideas

7. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-7 Demand States  Negative  Nonexistent  Latent  Declining  Irregular  Unwholesome  Full  Overfull

8. Figure 1.1 Structure of Flows in Modern Exchange Economy Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-8

9. Figure 1.2 A Simple Marketing System Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-9

10. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 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 © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-11

12. Types of Needs Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-12 Stated Real Unstated Delight Secret

13. Target Markets, Positioning & Segmentation Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-13

14. Offerings and Brands Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-14

15. Value and Satisfaction Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-15

16. Marketing Channels Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-16 Communication Distribution Service

17. Marketing Environment Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 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 © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-18

19. Company Orientations Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-19 Production Product Selling Marketing

20. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-20 There are five competing concepts under which organizations can choose to conduct their business: the production concept, the product concept, the selling concept, the marketing concept, and the holistic marketing concept. The first three are of limited use today..

21. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-21 The holistic marketing concept is based on the development, design, and implementation of marketing programs, processes, and activities that recognize their breadth and interdependencies. Holistic marketing recognizes that everything matters in marketing and that a broad, integrated perspective is often necessary. Four components of holistic marketing are relationship marketing, integrated marketing, internal marketing, and socially responsible marketing.

22. Holistic Marketing Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-22

23. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-23

24. Relationship Marketing Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-24 Customers Employees Marketing Partners Financial Community

25. Integrated Marketing Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-25

26. Internal Marketing Internal marketing is the task of hiring, training, and motivating able employees who want to serve customers well. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-26

27. Performance Marketing Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-27 Financial Accountability Social Responsibility Marketing

28. Types of Corporate Social Initiatives  Corporate social marketing  Cause marketing  Cause-related marketing  Corporate philanthropy  Corporate community involvement  Socially responsible business practices Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-28

29. The Marketing Mix Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-29

30. The New Four Ps Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-30 Processes People Programs Performance

31. 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 © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-31

32. 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 © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-32