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PowerPoint by
                        Milton M. Pressley
                       Creative Assistance by
                       D. Carter and S. Koger
                                             1-1
www.bookfiesta4u.com
Chapter 1
Defining Marketing for the
21st Century
by




                             PowerPoint by
                        Milton M. Pressley
                 University of New Orleans
                                             1-2
          www.bookfiesta4u.com
Kotler on
Marketing
The future is not ahead
 of us. It has already
 happened.
 Unfortunately, it is
 unequally distributed
 among companies,
 industries and nations.


                                        1-3
                 www.bookfiesta4u.com
Chapter Objectives
In this chapter we will address the following
questions:
  What is the new economy like?
  What are the tasks of marketing?
  What are the major concepts and tools of
  marketing?
  What orientations do companies exhibit in the
  marketplace?
  How are companies and marketers responding to
  the new challenges?

                                                  1-4
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The New Economy
Substantial increase in buying power
A greater variety of goods and services
A greater amount of information about
practically anything
A greater ease in interacting and placing
and receiving orders
An ability to compare notes on products
and services

                                            1-5
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The New Economy
Websites can provide companies with
powerful new information and sales
channels.
Companies can collect fuller and richer
information about markets, customers,
prospects and competitors.
Companies can facilitate and speed up
communications among employees.
Companies can have 2-way
                    2-
communication with customers and
prospects
                                          1-6
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The New Economy
Companies can send ads, coupons,
samples, information to targeted
customers.
Companies can customize offerings and
services to individual customers.
The Internet can be used as a
communication channel for purchasing,
training, and recruiting.
Companies can improve logistics and
operations for cost savings while
improving accuracy and service quality.
                                          1-7
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The three major challenges faced by
businesses today are globalization,
advances in technology, and deregulation.
Which of these affords the greatest
opportunity for established businesses?
Which affords the greatest
opportunities for new
businesses? Why?
                                            1-8
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Marketing Task
Ten rules of radical marketing
  The CEO must own the marketing function.
  Make sure the marketing department starts
  small and flat and stays small and flat.
  Get face to face with the people who matter
  most – the customers.
  Use market research cautiously.
  Hire only passionate missionaries.


                                                1-9
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Marketing Task
  Love and respect your customers.
  Create a community of consumers.
  Rethink the marketing mix.
  Celebrate common sense.
  Be true to the brand.
Three stages of marketing practice
  Entrepreneurial Marketing
  Formulated Marketing
  Intrepreneurial Marketing

                                     1-10
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The Scope of Marketing

 Marketing: typically seen as the
 task of creating, promoting, and
 delivering goods and services to
 consumers and businesses.




                                    1-11
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1. Negative          A major part of the market dislikes the
             demand               product and may even pay a price to
Table 1.1                         avoid it—vaccinations, dental work,
                                         it—
Demand                            vasectomies, and gallbladder
                                  operations, for instance. Employers have
States and                        a negative demand for ex-convicts and
                                                         ex-
Marketing                         alcoholics as employees. The marketing
                                  task is to analyze why the market
Tasks                             dislikes the product and whether a
                                  marketing program consisting of
                                  product redesign, lower prices, and
                                  more positive promotion can change
                                  beliefs and attitudes.
             2. No demand         Target consumers may be unaware of or
                                  uninterested in the product. Farmers
                                  may not be interested in a new farming
                                  method, and college students may not
                                  be interested in foreign-language
                                                   foreign-
                                  courses. The marketing task is to find
                                  ways to connect the benefits of the
                                  product with people’s natural needs and
                                  interests.
                              See text for complete table                1-12
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Can you name a category of
products for which your negative
feelings have softened?
What precipitated
this change?



                                     1-13
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The Scope of Marketing
Places                 Goods
Properties             Services
Organizations          Experiences
Information            Events
Ideas                  Persons



                                     1-14
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The Decisions
Marketers Make
Consumer Markets
Business Markets
Global Markets
Nonprofit and
Governmental Markets



                           1-15
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Marketing Concepts
    and Tools
 Defining Marketing
   Marketing
   Marketing management
 Core Marketing Concepts
   Target Markets and
   Segmentation



                              1-16
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Figure 1-1: A Simple Marketing System




                                        1-17
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Marketing Concepts
    and Tools
  Marketplace,
  Marketspace,
  and
  Metamarket




                              1-18
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Marketing Concepts
    and Tools
Marketers and Prospects
Needs, Wants, and Demands
Product, Offering, and Brand
Value and Satisfaction
  Customer value triad
  Value
   Value = Benefits / Costs =
   (Functional benefits + Emotional benefits) /
   (Monetary costs + Time costs + Energy costs +
     Psychic costs)

                                                   1-19
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Marketing Concepts
    and Tools
 Exchange and Transactions
   Exchange
   Transaction
   Barter
   Transfer
   Behavioral response




                               1-20
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Marketing Concepts
    and Tools
  Relationships and Networks
    Relationship marketing
    Marketing network
  Marketing Channels
  Supply Chain
  Competition


                               1-21
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Marketing Concepts
    and Tools
  Brand competition
  Industry competition
  Form competition
  Generic competition
Marketing environment
  Task environment
  Broad environment
Marketing Program
  Marketing program
  Marketing mix
                                   1-22
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Company Orientations
Toward the Marketplace
     Production Concept
     Product concept
     Selling Concept
     Marketing Concept




                               1-23
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Company Orientations
Toward the Marketplace
    Target Market
    Customer Needs
      Stated needs
      Real needs
      Unstated needs
      Delight needs
      Secret needs


                                1-24
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Company Orientations
Toward the Marketplace
    Integrated Marketing
      External marketing
      Internal marketing




                                1-25
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Company Orientations
Toward the Marketplace
    Profitability
      Sales decline
      Slow growth
      Changing buying patterns
      Increasing competition
      Increasing marketing
      expenditures



                                 1-26
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Company Orientations
Toward the Marketplace
  Societal Marketing Concept
    Cause-
    Cause-related marketing




                                 1-27
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Can you identify the trends that have
made the marketing concept, the
customer concept, and the societal
marketing concept more attractive
models for contemporary
marketing managers?


                                        1-28
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How Business and
Marketing are Changing
    Customers
    Brand manufacturers
    Store-
    Store-based retailers




                                1-29
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How Business and
 Marketing are Changing
Company responses and adjustments
  Reengineering       Partner-
                      Partner-suppliers
  Outsourcing         Market-
                      Market-centered
  E-commerce          Global and local
  Benchmarking        Decentralized
  Alliances


                                          1-30
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How Business and
 Marketing are Changing
Marketer Responses
and Adjustments
  Customer relationship          Integrated marketing
  marketing                      communications
  Customer lifetime value        Channels as partners
  Customer share                 Every employee a
  Target marketing               marketer
  Customization                  Model-
                                 Model-based decision
  Customer database              making

                                                        1-31
                 www.bookfiesta4u.com

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Marketing in the 21st Century

  • 1. PowerPoint by Milton M. Pressley Creative Assistance by D. Carter and S. Koger 1-1 www.bookfiesta4u.com
  • 2. Chapter 1 Defining Marketing for the 21st Century by PowerPoint by Milton M. Pressley University of New Orleans 1-2 www.bookfiesta4u.com
  • 3. Kotler on Marketing The future is not ahead of us. It has already happened. Unfortunately, it is unequally distributed among companies, industries and nations. 1-3 www.bookfiesta4u.com
  • 4. Chapter Objectives In this chapter we will address the following questions: What is the new economy like? What are the tasks of marketing? What are the major concepts and tools of marketing? What orientations do companies exhibit in the marketplace? How are companies and marketers responding to the new challenges? 1-4 www.bookfiesta4u.com
  • 5. The New Economy Substantial increase in buying power A greater variety of goods and services A greater amount of information about practically anything A greater ease in interacting and placing and receiving orders An ability to compare notes on products and services 1-5 www.bookfiesta4u.com
  • 6. The New Economy Websites can provide companies with powerful new information and sales channels. Companies can collect fuller and richer information about markets, customers, prospects and competitors. Companies can facilitate and speed up communications among employees. Companies can have 2-way 2- communication with customers and prospects 1-6 www.bookfiesta4u.com
  • 7. The New Economy Companies can send ads, coupons, samples, information to targeted customers. Companies can customize offerings and services to individual customers. The Internet can be used as a communication channel for purchasing, training, and recruiting. Companies can improve logistics and operations for cost savings while improving accuracy and service quality. 1-7 www.bookfiesta4u.com
  • 8. The three major challenges faced by businesses today are globalization, advances in technology, and deregulation. Which of these affords the greatest opportunity for established businesses? Which affords the greatest opportunities for new businesses? Why? 1-8 www.bookfiesta4u.com
  • 9. Marketing Task Ten rules of radical marketing The CEO must own the marketing function. Make sure the marketing department starts small and flat and stays small and flat. Get face to face with the people who matter most – the customers. Use market research cautiously. Hire only passionate missionaries. 1-9 www.bookfiesta4u.com
  • 10. Marketing Task Love and respect your customers. Create a community of consumers. Rethink the marketing mix. Celebrate common sense. Be true to the brand. Three stages of marketing practice Entrepreneurial Marketing Formulated Marketing Intrepreneurial Marketing 1-10 www.bookfiesta4u.com
  • 11. The Scope of Marketing Marketing: typically seen as the task of creating, promoting, and delivering goods and services to consumers and businesses. 1-11 www.bookfiesta4u.com
  • 12. 1. Negative A major part of the market dislikes the demand product and may even pay a price to Table 1.1 avoid it—vaccinations, dental work, it— Demand vasectomies, and gallbladder operations, for instance. Employers have States and a negative demand for ex-convicts and ex- Marketing alcoholics as employees. The marketing task is to analyze why the market Tasks dislikes the product and whether a marketing program consisting of product redesign, lower prices, and more positive promotion can change beliefs and attitudes. 2. No demand Target consumers may be unaware of or uninterested in the product. Farmers may not be interested in a new farming method, and college students may not be interested in foreign-language foreign- courses. The marketing task is to find ways to connect the benefits of the product with people’s natural needs and interests. See text for complete table 1-12 www.bookfiesta4u.com
  • 13. Can you name a category of products for which your negative feelings have softened? What precipitated this change? 1-13 www.bookfiesta4u.com
  • 14. The Scope of Marketing Places Goods Properties Services Organizations Experiences Information Events Ideas Persons 1-14 www.bookfiesta4u.com
  • 15. The Decisions Marketers Make Consumer Markets Business Markets Global Markets Nonprofit and Governmental Markets 1-15 www.bookfiesta4u.com
  • 16. Marketing Concepts and Tools Defining Marketing Marketing Marketing management Core Marketing Concepts Target Markets and Segmentation 1-16 www.bookfiesta4u.com
  • 17. Figure 1-1: A Simple Marketing System 1-17 www.bookfiesta4u.com
  • 18. Marketing Concepts and Tools Marketplace, Marketspace, and Metamarket 1-18 www.bookfiesta4u.com
  • 19. Marketing Concepts and Tools Marketers and Prospects Needs, Wants, and Demands Product, Offering, and Brand Value and Satisfaction Customer value triad Value Value = Benefits / Costs = (Functional benefits + Emotional benefits) / (Monetary costs + Time costs + Energy costs + Psychic costs) 1-19 www.bookfiesta4u.com
  • 20. Marketing Concepts and Tools Exchange and Transactions Exchange Transaction Barter Transfer Behavioral response 1-20 www.bookfiesta4u.com
  • 21. Marketing Concepts and Tools Relationships and Networks Relationship marketing Marketing network Marketing Channels Supply Chain Competition 1-21 www.bookfiesta4u.com
  • 22. Marketing Concepts and Tools Brand competition Industry competition Form competition Generic competition Marketing environment Task environment Broad environment Marketing Program Marketing program Marketing mix 1-22 www.bookfiesta4u.com
  • 23. Company Orientations Toward the Marketplace Production Concept Product concept Selling Concept Marketing Concept 1-23 www.bookfiesta4u.com
  • 24. Company Orientations Toward the Marketplace Target Market Customer Needs Stated needs Real needs Unstated needs Delight needs Secret needs 1-24 www.bookfiesta4u.com
  • 25. Company Orientations Toward the Marketplace Integrated Marketing External marketing Internal marketing 1-25 www.bookfiesta4u.com
  • 26. Company Orientations Toward the Marketplace Profitability Sales decline Slow growth Changing buying patterns Increasing competition Increasing marketing expenditures 1-26 www.bookfiesta4u.com
  • 27. Company Orientations Toward the Marketplace Societal Marketing Concept Cause- Cause-related marketing 1-27 www.bookfiesta4u.com
  • 28. Can you identify the trends that have made the marketing concept, the customer concept, and the societal marketing concept more attractive models for contemporary marketing managers? 1-28 www.bookfiesta4u.com
  • 29. How Business and Marketing are Changing Customers Brand manufacturers Store- Store-based retailers 1-29 www.bookfiesta4u.com
  • 30. How Business and Marketing are Changing Company responses and adjustments Reengineering Partner- Partner-suppliers Outsourcing Market- Market-centered E-commerce Global and local Benchmarking Decentralized Alliances 1-30 www.bookfiesta4u.com
  • 31. How Business and Marketing are Changing Marketer Responses and Adjustments Customer relationship Integrated marketing marketing communications Customer lifetime value Channels as partners Customer share Every employee a Target marketing marketer Customization Model- Model-based decision Customer database making 1-31 www.bookfiesta4u.com