Defining Marketing Defining Marketing for the 21for the 21stst Century CenturyDefining Marketing Defining Marketing for the 21for the 21stst Century Century

CHAPTER I CHAPTER I

Phillipe Kotler & Kevin Lane KellerPhillipe Kotler & Kevin Lane Keller

The Objectives

You will be able to:

• Understand the principle concepts of marketing

• Compare 5 concepts of marketing

• Explain business portfolio and its growth strategic

• Understand the Marketing Management Task

What is Marketing?

• An organizational function and set of process for creating, communicating and delivering value to customers and for managing relationships in ways that benefit the organizational and stakeholders

• A societal process by which individuals and groups obtain what they need and want through creating, offering and freely exchanging products and services value with others

Marketing Management

The art and science that

choosing target markets and

getting, keeping and growing

through creating, delivering

and communicating superior

customer values

Marketing is not Selling

Marketing is not just Advertising

Fundamental Marketing Concepts, Trend and Task

Core Concepts:– Needs, Wants, Demands– Segmentation, Positioning, Targeting – Offering and Brands– Value and Satisfaction– Marketing Channel – Supply Chain– Competition– Marketing Environment– Marketing Planning

What is Marketed?

• Goods• Services• Events• Experiences• Persons

• Places• Properties• Organizations• Information• Ideas

Who Markets?Marketers & Prospect8 Demand states:1. Negative Demand2. Nonexistent Demand3. Latent Demand4. Declining Demand5. Irregular Demand6. Full Demand7. Overfull Demand8. Unwholesome Demand

Structure of Flows in a Modern Exchange Economy

Marketing Concepts• Production Concept• Product Concept• Selling Concept• Marketing Concept• Holistic Marketing Concept

• Production Concept: holds that consumers will prefer products that are widely available and inexpensive

• Product Concept: holds that consumers will favor those product that offer the most quality, performance or innovative features

• Selling Concept: holds that consumers and business, if left alone will ordinarily not buy enough of the organization’s product

• Marketing Concept: holds that the key to achieving its organizational goals consists of the company being more effective than competitors in creating, delivering and communicating superior customers value to its chosen target market

The Holistic Marketing Concept

Marketing Management Tasks

• Developing Marketing Strategy and Plans

• Capturing Marketing Insights• Connecting with Customers• Building Strong Brands• Shaping the Marketing Offerings• Delivering Value• Communicating Value• Creating Long-term growth