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Primus Report Part 1 Concepts of 21st century marketing by bong de ungria

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Primus Report Part 1 Concepts of 21st century marketing by bong de ungria

  1. 1. www.josephdeungria.com 1 #Survival&Growth #EverythingEveryone Part1: Concepts & Examples Prof. Bong De Ungria Ateneo Graduate School of Business Marketing for the 21st Century
  2. 2. www.josephdeungria.com Outline of Learning Objectives 21st century marketing is… 1. Important for survival&growth (why?) 2. Used for everything (for what?, scope) by everyone (who?) 3. Basic (what are core concepts?) 4. Changing 5. About Accomplishing 8 Tasks
  3. 3. www.josephdeungria.com 21st Century Marketing Concept 1: Marketing is important for business #Survival&Growth • #GenerateDemand: for top-line growth (revenue) • #ProvidesSolutionstoSociety communicating and creating, delivering value to
  4. 4. www.josephdeungria.com 1. Goods 2. Services 3. Experiences 4. Events 5. Persons 6. Places 7. Properties 8. Organizations 9. Information 10.Ideas 21st Century Marketing Concept 2a: #Everythingismarketed!
  5. 5. www.josephdeungria.com 1. Goods 2. Services 3. Experiences 4. Events 5. Persons 6. Places 7. Properties 8. Organizations 9. Information 10.Ideas 21st Century Marketing Concept 2: Everything (10) is marketed ! Pnoy Challenge: Name 1 entity that does not need Marketing
  6. 6. www.josephdeungria.com Who Is Involved In Marketing (for your company?) Raise your hands!
  7. 7. www.josephdeungria.com 1. Marketing 2. Finance 3. Operations 4. HR 21st Century Marketing Concept 3: #MarketingInvolvesEverybody Every employee is a marketer!
  8. 8. www.josephdeungria.com 1. Marketing 2. Finance 3. Operations 4. HR Including: – Delivery personnel – Security guards – Secretaries – Collectors – Messenger 21st Century Marketing Concept 3: Every employee is a marketer!
  9. 9. www.josephdeungria.com 21st Century Marketing Concept 3: #Everything counts! (All actions are counted, scored by the customer)
  10. 10. www.josephdeungria.com Outline of Learning Objectives 21st century marketing is… 1. Important for survival&growth (why?) 2. Used for everything (for what?, scope) by everyone (who?) 3. Basic (what are core concepts?) 4. Changing 5. About Accomplishing 8 Tasks
  11. 11. www.josephdeungria.com Model Mastering 101 Key Marketing Concepts
  12. 12. www.josephdeungria.com What is Marketing?
  13. 13. www.josephdeungria.com What is Marketing? System of profitably
  14. 14. www.josephdeungria.com What is Marketing? System of profitably creating,
  15. 15. www.josephdeungria.com What is Marketing? System of profitably communicating and creating,
  16. 16. www.josephdeungria.com What is Marketing? System of profitably communicating and creating, delivering value to
  17. 17. www.josephdeungria.com What is Marketing? System of profitably Satisfy customer communicating and creating, delivering value to
  18. 18. www.josephdeungria.com What is Marketing? System of profitably Satisfy customer needs, wants and demands communicating and creating, delivering value to
  19. 19. www.josephdeungria.com What is Marketing? System of profitably Satisfy customer needs, wants and demands Better than competition communicating and creating, delivering value to
  20. 20. www.josephdeungria.com Maslow’s Hierarchy of Needs= a basic, constant reference Self- Actualization Esteem Needs (Recognition, Status) Social Needs (sense of belonging, love) Safety Needs (security, protection) Physiological needs (food, water, shelter) Reference: Marketing Management, 11th ed, Philip Kotler
  21. 21. www.josephdeungria.com Can Marketing Create or Satisfy Needs? Can Marketing Create Needs? Debate
  22. 22. www.josephdeungria.com Food example To understand Needs, Wants & Demands. Need Basic necessity Feel deprived if this is absent Food Want Given choices, this is what you prefer Chicken, Burger, Steak dinner Demand A want that is supported by a decision and capacity to buy Only burger is within my budget!
  23. 23. www.josephdeungria.com 21st Century Same Concept 3 and 4: Marketing meets demand (thus, meets needs too!)
  24. 24. www.josephdeungria.com Needs are still basic, universal human requirements. Respond to 5 Types of needs: 1. Stated 2. Unstated 3. Real 4. Delight 5. Secret Basic needs have not changed. No NEED added or deleted in 50 years
  25. 25. www.josephdeungria.com Heart is a 3 cornered shape For 3 Strategic Cs
  26. 26. www.josephdeungria.com CUSTOMER First side is Customer
  27. 27. www.josephdeungria.com COMPANY CUSTOMER 2nd side is Company who creates, communicates & delivers value
  28. 28. www.josephdeungria.com COMPANY CUSTOMER COMPETITION 3rd side is Competition
  29. 29. www.josephdeungria.com COMPANY CUSTOMER NEEDS, WANTS, DEMANDS COMPETITION For customers, we meet demands
  30. 30. www.josephdeungria.com Outline of Learning Objectives 21st century marketing is… 1. Important for survival&growth (why?) 2. Used for everything (for what?, scope) by everyone (who?) 3. Basic (what are core concepts?) 4. Changing 5. About Accomplishing 8 Tasks
  31. 31. www.josephdeungria.com In 21st Century Marketing Many Things Changed (Increased!)
  32. 32. www.josephdeungria.com 1. Globalization 2. Technology 3. Deregulation 4. Privatization 5. More Competition 6. Industry Convergence 7. Consumer resistance 8. Retail Transformation 21st Century Marketing Difference 1: Competition increased due to
  33. 33. www.josephdeungria.com 1. Globalization 2. Technology 3. Deregulation 4. Privatization 5. More Competition 6. Industry Convergence 7. Consumer resistance 8. Retail Transformation The Following changed or disappeared: Economic Boundaries Brick and Mortar Business Rules Monopolies & Dinosaurs Way of Doing Business 21st Century Marketing Difference 1: Competitive Rules changed!
  34. 34. www.josephdeungria.com 1. Buying Power 2. Choices 3. Information 4. Voice EASIER 5. Ordering 6. Comparison Customer is King! INCREASED 21st Century Marketing Difference 1: Customers are more powerful and demanding
  35. 35. www.josephdeungria.com 1. Internet 1. Social Media 2. Sales Channel 3. Research 4. On and Off-line buzz 5. Blogs 6. Purchasing savings 2. Niche magazines 3. Mobile 21st Century Marketing Difference 3: Companies must use more capabilities too!
  36. 36. www.josephdeungria.com Heart Attack! Company does same things it did 5 or 10 years ago (even if these were the key success factors of the 20th century)
  37. 37. www.josephdeungria.com Must cover: 1. Customers (develop long term relationships) 2. Company (internal customers, employees, 4Ps) 3. Competition (performance) 21st Century Marketing Difference 4: Marketing has to be HOLISTIC
  38. 38. www.josephdeungria.com Outline of Learning Objectives 21st century marketing is… 1. Important for survival&growth (why?) 2. Used for everything (for what?, scope) by everyone (who?) 3. Basic (what are core concepts?) 4. Changing 5. About Accomplishing 8 Tasks
  39. 39. www.josephdeungria.com 1. Develop Strategic Plans 21st Century Marketing Difference 5: Marketing Must Fulfill 8 Tasks
  40. 40. www.josephdeungria.com 1. Develop Strategic Plans 2. Capture Market Insights 21st Century Marketing Difference 5: Marketing Must Fulfill 8 Tasks
  41. 41. www.josephdeungria.com 1. Develop Strategic Plans 2. Capture Market Insights 3. Connect with Customers 21st Century Marketing Difference 5: Marketing Must Fulfill 8 Tasks
  42. 42. www.josephdeungria.com 1. Develop Strategic Plans 2. Capture Market Insights 3. Connect with Customers 4. Build Strong Brands 21st Century Marketing Difference 5: Marketing Must Fulfill 8 Tasks
  43. 43. www.josephdeungria.com 1. Develop Strategic Plans 2. Capture Market Insights 3. Connect with Customers 4. Build Strong Brands 5. Shape Market Offerings 21st Century Marketing Difference 5: Marketing Must Fulfill 8 Tasks
  44. 44. www.josephdeungria.com 1. Develop Strategic Plans 2. Capture Market Insights 3. Connect with Customers 4. Build Strong Brands 5. Shape Market Offerings 6 & 7 Communicate & Deliver Value 21st Century Marketing Difference 5: Marketing Must Fulfill 8 Tasks
  45. 45. www.josephdeungria.com 1. Develop Strategic Plans 2. Capture Market Insights 3. Connect with Customers 4. Build Strong Brands 5. Shape Market Offerings 6 & 7 Communicate & Deliver Value 8. Capture Long Term Growth 21st Century Marketing Difference 5: Marketing Must Fulfill 8 Tasks
  46. 46. www.josephdeungria.com Outline of Learning Objectives 21st century marketing 1. #Survival&Growth 2. #EverythingEveryone 3. #BasicallytheSame 4. #Changing 5. #8Marketing Tasks
  47. 47. www.josephdeungria.com My Conclusion: 21st century marketing To be successful today requires less of luck Less of magic and more of marketing.
  48. 48. www.josephdeungria.com 48 #Survival&Growth #EverythingEveryone Prof. Bong De Ungria Ateneo Graduate School of Business Marketing for the 21st Century

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