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    Defining Marketing For The 21 Century

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    Vatsal Pandya
    Marketing Management

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    Defining Marketing For The 21 Century

    Uploaded by

    Vatsal Pandya
    43 views29 pages
    Marketing Management

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    Marketing Management

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    43 views29 pages

    Defining Marketing For The 21 Century

    Uploaded by

    Vatsal Pandya
    Marketing Management

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 29

    1

    Defining Marketing
    for the 21st Century

    Marketing Management
    A South Asian Perspective, 13th ed
    Chapter Questions
    • Why is marketing important?
    • What is the scope of marketing?
    • What are some fundamental marketing
    concepts?
    • How has marketing management chan
    ged?
    • What are the tasks necessary for succe
    ssful marketing management?

    Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 1-2


    Good Marketing is No Accident

    The roaring success


    of four-wheeler Tata
    Ace, in a market earli
    er dominated by three
    -wheeler load carriers,
    was due to a deep un
    derstanding of the ma
    rket needs and custo
    mer requirements.

    Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 1-3


    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.

    Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 1-4


    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.

    Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 1-5


    Selling is only the tip of the iceberg

    “There will always be a need for


    some selling. But the aim of marketing i
    s to make selling superfluous. The aim
    of marketing is to know and understand
    the customer so well that the product or
    service fits him and sells itself. Ideally,
    marketing should result in a customer w
    ho is ready to buy. All that should be ne
    eded is to make the product or service
    available.”
    Peter Drucker

    Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 1-6


    What is Marketed?
    Goods

    Services
    Events & Experiences

    Persons

    Places & Properties

    Organizations
    Information
    Ideas
    Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 1-7
    Successful New Product Launches Re
    quire Careful Planning

    Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 1-8


    Marketing Can Promote Ideas

    Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 1-9


    Figure 1.1 Structure of Flows in a Modern Exch
    ange Economy

    Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 1-10


    Figure 1.2 A Simple Marketing System

    Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 1-11


    Demand States

    Negative Nonexistent Latent

    Declining Irregular

    Full Overfull Unwholesome

    Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 1-12


    Key Customer Markets
    Consumer Markets Global Markets

    Business Markets Nonprofit/ Government Markets

    Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 1-13


    www.marutitruevalue.com

    Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 1-14


    Functions of CMOs

    • Strengthening the brands


    • Measuring marketing effectiveness
    • Driving new product development base
    d on customer needs
    • Gathering meaningful customer insights
    • Utilizing new marketing technology

    Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 1-15


    Figure 1.3 Improving CMO Success

    • Make the mission and responsibilities clear


    • Fit the role to the marketing culture and struct
    ure
    • 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

    Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 1-16


    Core Marketing Concepts

    • Needs, wants, and de • Value and satisfaction


    mands • Marketing channels
    • Target markets, positi • Supply chain
    oning, segmentation • Competition
    • Offerings and brands • Marketing environme
    nt

    Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 1-17


    Positioning

    Press ads of the Sco


    rpio focused on the f
    unctional features of
    the vehicle and the te
    levision ads focused
    on emotional benefits.

    Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 1-18


    The marketplace isn’t what it used to be…

    Information technology

    Globalization
    Deregulation

    Privatization
    Competition
    Convergence
    Consumer resistance
    Retail transformation

    Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 1-19


    New Consumer Capabilities
    • A substantial increase in buying power
    • A greater variety of available goods and servi
    ces
    • A great amount of information about practical
    ly anything
    • Greater ease in interacting and placing and r
    eceiving orders
    • An ability to compare notes on products and
    services
    • An amplified voice to influence public opinion

    Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 1-20


    Company Orientations

    Production Product

    Selling Marketing

    Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 1-21


    Figure 1.4 Holistic Marketing Dimensions

    Performanc
    e Marketin
    g

    Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 1-22


    RBC emphasizes a
    relationship marketing approach

    Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 1-23


    Figure 1.5 The Four P’s

    Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 1-24


    Internal Marketing

    Internal marketing is the task of hiri


    ng, training, and motivating able emplo
    yees who want to serve customers well.

    Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 1-25


    Performance Marketing
    • Financial Accounta Social Initiatives
    bility • Corporate social marketi
    ng
    • Social Responsibilit
    • Cause marketing
    y Marketing
    • Cause-related marketing
    • Corporate philanthropy
    • Corporate community inv
    olvement
    • Socially responsible busi
    ness practices
    Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 1-26
    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 © 2009 Dorling Kindersley (India) Pvt. Ltd. 1-27


    Marketing Debate:
    Take a Position!

    Does marketing shape consumer needs?


    or
    Does marketing merely reflect the need
    s and wants of consumers?

    Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 1-28


    Marketing Discussion

    Consider the societal forces noted in th


    e chapter (e.g., information technology,
    globalization, deregulation, consumer r
    esistance, retail transformation).
    How have marketing practices shifted t
    o accommodate and even leverage the
    se forces?

    Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 1-29

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