This document provides an overview of key concepts in marketing management. It defines marketing as creating and delivering value for customers and managing customer relationships. Marketing management is choosing target markets and growing customer relationships through superior value. The document outlines fundamental marketing concepts like the marketing mix, target markets, and customer orientations. It also summarizes that the marketplace has changed with new technology, globalization, and empowered customers. Marketing management tasks are developing strategies, insights, brands and delivering value to customers.

1. MARKETING MANAGEMENT
12th edition
1
Defining Marketing
for the 21st Century
Kotler Keller

2. Chapter Questions
 Why is marketing important?
 What is the scope of marketing?
 What are some of the fundamental
marketing concepts?
 How has marketing management
changed?
 What are the tasks necessary for
successful marketing management?
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3. 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.
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4. 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.
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5. For an exchange to occur…..
 There are at least two parties.
 Each party has something that might be of
value to the other party.
 Each party is capable of communication
and delivery.
 Each party is free to reject the exchange
offer.
 Each party believes it is appropriate or
desirable to deal with the other party.
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6. What is Marketed?
 Goods  Places
 Services  Properties
 Events  Organizations
 Experiences  Information
 Persons  Ideas
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7. Demand States
 Negative  Irregular
 Nonexistent  Unwholesome
 Latent  Full
 Declining  Overfull
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8. Key Customer Markets
 Consumer markets
 Business markets
 Global markets
 Nonprofit/Government markets
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9. The marketplace isn’t what it used to be….
 Changing technology  Empowerment
 Globalization  Customization
 Deregulation  Convergence
 Privatization  Disintermediation
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10. Company Orientations
 Production
 Product
 Selling
 Marketing
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11. Marketing Mix and the Customer
Four Ps Four Cs
 Product  Customer solution
 Price  Customer cost
 Place  Convenience
 Promotion  Communication
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12. Core Concepts
 Needs, wants, and  Marketing channels
demands  Supply chain
 Target markets,  Competition
positioning,  Marketing
segmentation environment
 Offerings and brands  Marketing planning
 Value and
satisfaction
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13. I want it, I need it…..
5 Types of Needs
 Stated needs
 Real needs
 Unstated needs
 Delight needs
 Secret needs
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14. Marketing Management Tasks
 Developing  Shaping market
marketing strategies offerings
 Capturing marketing  Delivering value
insights  Communicating
 Connecting with value
customers  Creating long-term
 Building strong growth
brands
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