Defining Marketing For The New Realities
Defining Marketing For The New Realities
Defining Marketing For The New Realities
1
Defining
Marketing
for the
New Realities
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What is Marketed?
• Goods (products)
• Services
• Events
• Experiences
• Persons
• Places
• Properties
• Organizations
• Information
• Ideas
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SELLING IS ONLY THE TIP OF THE ICEBERG
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THE BASIC PROFIT EQUATION
Profit =
• Wants
• Demands
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Core Marketing Concepts
• Needs: the basic human requirements such as
for air, food, water, clothing, and shelter
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Core Marketing Concepts
• Target markets
• Positioning
• Segmentation
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Core Marketing Concepts
• Value proposition: a set of benefits that
satisfy those needs
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Core Marketing Concepts
• Marketing channels
COMMUNICATION
DISTRIBUTION
SERVICE
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Core Marketing Concepts
• Paid media: TV, magazine and display ads,
paid search, and sponsorships
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Core Marketing Concepts
• Value: a combination of quality, service, and
price
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Core Marketing Concepts
• Supply chain: a channel stretching from raw materials to
components to finished products carried to final buyers (Fig 1.3:
The Supply Chain for Coffee)
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Core Marketing Concepts
• Competition: all the actual and potential rival
offerings and substitutes a buyer might
consider
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The New Marketing Realities
• Technology
• Globalization
• Social responsibility
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A dramatically changed marketplace
• New consumer
capabilities
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Company Orientation toward
the Marketplace
PRODUCTION
PRODUCT
SELLING
MARKETING
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Fig. 1.4
Holistic Marketing Dimensions
• Create value
• Deliver value
• Communicate value