MARKETING MANAGEMENT12th edition1 Defining Marketing for the 21st CenturyKotlerKeller

Chapter QuestionsWhy 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?

Good Marketing is No AccidentBoston Beer Company, maker of Samuel Adams, constantly innovates

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.

What is Marketing Management?Marketing management is theart and science of choosing target markets and getting, keeping, and growing customers throughcreating, delivering, and communicatingsuperior customer value.

Selling is only the tip of the icebergThere will always be need for some selling. But the aim of marketing is 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 who is ready to buy. All that should be needed is to make the product or service available.Peter Drucker

Designing the Right Product

Only the best is good enough for Lexus customers

Obtaining Products

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.

Are both forms of exchange?TransactionsTransfers

What is Marketed?

Marketing Goods

Marketing Ideas: Friends Dont Let Friends Drive Drunk

This is the watch Stephen Hollingshead, Jr. was wearing when he encountered a drunk driver. Time of death 6:55 p.m.

Demand StatesNonexistentLatentDecliningIrregularFullUnwholesomeOverfullNegative

Figure 1.1 Structure of Flows in a Modern Exchange Economy

Figure 1.2 A Simple Marketing System

Key Customer MarketsNonprofit/ Government Markets

Global MarketsCoke is represented at the first China International Beverage Festival in Beijing in 2003

The marketplace isnt what it used to be

Company OrientationsProductionSellingMarketingProduct

Figure 1.3 Holistic Marketing Dimensions

Pumas rebirth attributed to holistic marketing

Figure 1.4 The Four Ps

Figure 1.5 Marketing-Mix Strategy

Marketing Mix and the CustomerFour PsProductPricePlacePromotionFour CsCustomer solutionCustomer costConvenienceCommunication

Corporate Social Initiatives

Corporate Social Initiatives

Core Concepts

Needs, wants, and demandsTarget markets, positioning, segmentationOfferings and brandsValue and satisfaction

Marketing channelsSupply chainCompetitionMarketing environmentMarketing planning

I want it, I need it5 Types of Needs

Stated needsReal needsUnstated needsDelight needsSecret needs

Figure 1.6 Factors Influencing Marketing Strategy

Marketing Management TasksDeveloping marketing strategiesCapturing marketing insightsConnecting with customersBuilding strong brands

Shaping market offeringsDelivering valueCommunicating valueCreating long-term growth

Marketing DebateDoes Marketing Create or Satisfy Needs?

Marketing DiscussionAre there any themes that emerge in the broad shiftsin marketing? Can they berelated to the major societalforces? Expand.