Defining Marketing for the 21st Century1

Marketing Management, 13th edition

MQC Marketing Quality Circle

Chapter Questions

Why is marketing important? What is the scope of marketing? What are some fundamental

marketing concepts? How has marketing management

changed? What are the tasks necessary for

successful marketing management?

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 includes:

•Production management•Brand management •Customer management

What is Marketing Management?

Marketing management is theart and science

of choosing target markets and getting, keeping, and growing

customers throughcreating, delivering, and communicating

superior customer value.

Why Marketing?

•Importance of Marketing

•Scope of Marketing

What is Marketed?

Goods Services Events and

experiences Persons

Places and properties

Organizations Information Ideas

Demand States

Negative Nonexistent Latent Declining

Irregular Unwholesome Full Overfull

Key Customer Markets

Consumer markets Business markets Global markets Nonprofit/Government markets

Company Orientations

Production Product Selling Marketing

Marketing Mix and the Customer

Four Ps Product Price Place Promotion

Four Cs Customer

solution Customer cost Convenience Communicatio

n

Core Concepts

Needs, wants, and demands

Target markets, positioning, segmentation

Offerings and brands

Value and satisfaction

Marketing channels

Supply chain Competition Marketing

environment Marketing

planning

Functions of CMOs

Strengthening the brands Measuring marketing effectiveness Driving new product development

based on customer needs Gathering meaningful customer

insights Utilizing new marketing technology

Figure 1.3 Improving CMO Success (cont.)

Make the mission and responsibilities clear

Fit the role to the marketing culture and structure

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

New Consumer Capabilities

A substantial increase in buying power A greater variety of available goods

and services A great amount of information about

practically anything Greater ease in interacting and placing

and receiving orders An ability to compare notes on

products and services An amplified voice to influence public

opinion

Dual Goal of marketing

Adam SmithCore concepts of marketing

Scientific ManagementImportance of

marketing

General Administrative

Theory

Scope of marketing

Customer Dissatisfac

tion

Customer Delight

Production

Unwholesome

DecliningHawthorne Studies

FullOrganizatio

nal Behavior

Overfull

Holistic Selling 

Marketing

What is marketing?

Why marketing?

What is Marketed

Customer satisfaction

Quality Manageme

nt

Customer Satisfaction

Demand States

Company Orientations

MARKETING IN 21st Century

Goods Services

Persons

Organization

Information

IdeasPlaces, Properties

LatentNegative

Organizational

Behavior

Irregular

Organizational

Behavior

NonexistentProduct

Marketing Mix

Marketing Management Tasks

Product

Promotion

Price Place

•Develop marketing strategies and plans• Capture marketing

insights• Connect with

customers• Build strong brands

Session 1

Chapter 1

• Shape market offerings

• Deliver value• Communicate value• Create long-term

growth

Market changes

I

Information technology

Convergence

Competition

Privatization

DeregulationGlobalizat

ion

Consumer resistance