Defining Marketing for the 21st Century

1. Defining Marketing
for the 21st
Century
Marketing Management, 13th
ed
1

2. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
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?

3. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
What is Marketing?
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. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
What is Marketing Management?
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. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
What is Marketed?
• Goods
• Services
• Events and
experiences
• Persons
• Places and
properties
• Organizations
• Information
• Ideas

6. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
Demand States
• Negative
• Nonexistent
• Latent
• Declining
• Irregular
• Unwholesome
• Full
• Overfull

7. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
Key Customer Markets
• Consumer markets
• Business markets
• Global markets
• Nonprofit/Government markets

8. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
Company Orientations
• Production
• Product
• Selling
• Marketing

9. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
Marketing Mix and the Customer
Four Ps
• Product
• Price
• Place
• Promotion
Four Cs
• Customer
solution
• Customer cost
• Convenience
• Communication

10. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
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

11. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
Marketing Management Tasks
• Developing
marketing
strategies
• Capturing
marketing insights
• Connecting with
customers
• Building strong
brands
• Shaping market
offerings
• Delivering value
• Communicating
value
• Creating long-
term growth

12. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
Functions of CMOs
• Strengthening the brands
• Measuring marketing effectiveness
• Driving new product development
based on customer needs
• Gathering meaningful customer
insights
• Utilizing new marketing technology

13. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
Figure 1.3 Improving CMO Success
(cont.)
• Make the mission and responsibilities clear
• Fit the role to the marketing culture and
structure
• Ensure the CMO is compatible with the CEO
• Remember that show people don’t succeed
• Match the personality with the CMO type
• Make line managers marketing heroes
• Infiltrate the line organization
• Require right-brain and left-brain skills

14. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
New Consumer Capabilities
• A substantial increase in buying power
• A greater variety of available goods and
services
• A great amount of information about
practically anything
• Greater ease in interacting and placing and
receiving orders
• An ability to compare notes on products and
services
• An amplified voice to influence public opinion

15. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
Internal Marketing
Internal marketing is the task of
hiring, training, and motivating able
employees who want to serve
customers well.

16. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
Performance Marketing
• Financial Accountability
• Social Responsibility
Marketing
• Social Initiatives
• Corporate social
marketing
• Cause marketing
• Corporate philanthropy
• Corporate community
involvement
• Socially responsible
business practices

17. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
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