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MARKETING MANAGEMENT

MARKETING MANAGEMENT. Defining Marketing for the 21 st Century. Kotler Keller. What is marketing?. What is Marketing?. Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing

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MARKETING MANAGEMENT

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

  2. What is marketing?

  3. 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.

  4. What is marketing management?

  5. 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.

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

  7. What is the difference between marketing and selling?

  8. 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

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

  10. Marketing Goods

  11. 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.

  12. Key Customer Markets • Consumer markets • Business markets • Global markets • Nonprofit/Government markets

  13. Figure 1.2 A Simple Marketing System

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

  15. Company Orientations Production Product Selling Marketing

  16. Figure 1.4 The Four P’s

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

  18. 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

  19. 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.

  20. Factors Influencing Marketing Strategy

  21. Marketing Debate Does Marketing Create or Satisfy Needs?

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