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Marketing in the Twenty-first Century

Chapter 1. Marketing in the Twenty-first Century. Marketing Management Philip Kotler. Course Organization Tasks of Marketing Major Concepts & Tools of Marketing Marketplace Orientations Marketing’s Responses to New Challenges. Objectives. Part I - Marketing Management

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Marketing in the Twenty-first Century

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  1. Chapter 1 Marketing in the Twenty-first Century Marketing Management Philip Kotler

  2. Course Organization Tasks of Marketing Major Concepts & Tools of Marketing Marketplace Orientations Marketing’s Responses to New Challenges Objectives

  3. Part I - Marketing Management Part II - Analyzing Marketing Opportunities Part III - Developing Marketing Strategies Part IV - Shaping the Market Offering Part V - Managing & Delivering Marketing Programs Course/Text Organization

  4. Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others. - Philip Kotler (p. 7) Defining Marketing

  5. Goods Services Events Experiences Persons Places Properties Organizations Information Ideas What is Marketed?

  6. Core Concepts of Marketing Target Markets & Segmentation Needs, Wants, and Demands Product or Offering Value and Satisfaction Exchange and Transactions Relationships and Networks Marketing Channels Supply Chain Competition Marketing Environment

  7. The Marketing Environment The macro-environment The micro-environment Economicfactors Politicalfactors The Internal environment MenMoneyMachineryMaterialsMinutes Suppliers Consumers Stakeholders Socio-culturalfactors Technologicalfactors

  8. 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. For an exchange to occur…..

  9. I want... Negative Nonexistent Latent Declining Irregular Unwholesome Full Overfull I need… Stated needs Real needs Unstated needs Delight needs Secret needs Demand & Need States

  10. Communication Industry (a collection of sellers) Market (a collection of Buyers) Information Simple Marketing System Goods/services Money

  11. Changing technology Globalization Deregulation Privatization Empowerment Customization Convergence Disintermediation The New Player OrderThe marketplace isn’t what it used to be…. Or?

  12. Resources Resources Resource markets Money Money Services, money Taxes, goods Services, money Taxes Government markets Consumer markets Taxes, goods Services Services, money Taxes, goods Money Money Intermediary markets Goods, services Goods, services Structure of Flows Manufacturer markets

  13. Place Product Price Promotion Marketing Mix - The Four Ps & The Four Cs Marketing Mix Conven- ience Customer Solution Customer Cost Communication

  14. Four Ps

  15. Company Orientations Towards the Marketplace Consumers prefer products that are widely available and inexpensive Production Concept • Consumers favor products that • offer the most quality, performance, • or innovative features Product Concept Consumers will buy products only if the company aggressively promotes/sells these products Selling Concept Focuses on needs/ wants of target markets & delivering value better than competitors Marketing Concept

  16. Starting point Focus Means Ends Factory Existing products Selling and promotion Profits through sales volume (a) The selling concept Market Customer needs Integrated marketing Profits through customer satisfaction (b) The marketing concept Customer Delivered Value

  17. Traditional Organization Chart Top Management Middle Management Front-line people Customers

  18. Customers Front-line people Middle management Customers Customers Top manage- ment Customer-Oriented Organization Chart

  19. Finance Production Production Finance Human resources Human resources Marketing Marketing a. Marketing as an equal function b. Marketing as a more important function Evolving Views of Marketing’s Role

  20. Production Production Finance Customer Marketing Human resources Human resources Finance Marketing c. Marketing as the major function d. The customer as the controlling factor Evolving Views of Marketing’s Role

  21. Production Marketing Customer Human resources Finance e. The customer as the controlling function and marketing as the integrative function Evolving Views of Marketing’s Role

  22. Course Organization Tasks of Marketing Major Concepts & Tools of Marketing Marketplace Orientations Marketing’s Responses to New Challenges Review

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