MARKETING MANAGEMENT 12 th edition

1. MARKETING MANAGEMENT12th edition 1 Defining Marketing for the 21st Century Kotler Keller

2. 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.

3. What is Marketing Management? Marketingmanagement is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.

4. Selling is only the tip of the iceberg “There 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

5. 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.

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

7. Marketing Goods

8. Marketing Ideas:Friends Don’t Let Friends Drive DrunkThis is the watch Stephen Hollingshead, Jr. was wearing when he encountered a drunk driver. Time of death 6:55 p.m.

9. Figure 1.1 Structure of Flows in a Modern Exchange Economy

10. Figure 1.2 A Simple Marketing System

11. Global Markets Coke is represented at the first China International Beverage Festival in Beijing in 2003

12. Company Orientations Production Product Selling Marketing

13. Figure 1.3 Holistic Marketing Dimensions

14. Figure 1.4 The Four P’s

15. Four P’s Product Price Place Promotion Four C’s Customer solution Customer cost Convenience Communication Marketing Mix and the Customer

16. Needs, wants, and demands Target markets, positioning, segmentation Offerings and brands Value and satisfaction Marketing channels Supply chain Competition Marketing environment Marketing planning Core Concepts

17. Figure 1.6 Factors Influencing Marketing Strategy

18. Developing marketing strategies Capturing marketing insights Connecting with customers Building strong brands Shaping market offerings Delivering value Communicating value Creating long-term growth Marketing Management Tasks

19. Marketing Debate Does Marketing Create or Satisfy Needs?

20. What Motivates a Consumerto Take Action? • Needs - states of felt deprivation including physical needs for food, social needs for belonging and individual needs for self-expression. i.e. I am thirsty. • Wants - form that a human need takes as shaped by culture and individual personality. i.e. I want a Coca-Cola. • Demands - human wants backed by buying power. i.e. I have money to buy a Coca-Cola.