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What is Marketing?

What is Marketing?. Marketing is what organizations do to create, communicate, and deliver value to customers. It can also manage customer relationships that benefit the organization and its stakeholders. What is Marketing Management?. Marketing management is the art and science

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What is Marketing?

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  1. What is Marketing? Marketing is what organizations do to create, communicate, and deliver value to customers. It can also manage customer relationships that benefit the organization and its stakeholders.

  2. 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.

  3. 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, Management Guru

  4. Figure 1.2 A Simple Marketing System

  5. Marketing? Dean Adds Another Reason to Vote WASHINGTON (AP) - The head of the Democratic Party said Friday blacks have an added incentive to vote in November: Democratic control of the House would give key committee chairmanships to African-American lawmakers. Howard Dean said the presence of blacks in those critical jobs would increase the influence of the black community. He singled out Rep. Charlie Rangel, D-N.Y., who would be chairman of the House Ways and Means Committee, and Rep. Juanita Millender-McDonald, D-Calif., who would head the House Administration Committee. “This would be the first election in America where African-Americans could have real substantial power in what happens in this country,'' Dean said, referring to blacks assuming the chair on several House committees and subcommittees. Dean pledged that Democrats ``will not take any vote or any voter for granted and we will not take any community for granted. We are advertising in the African-American community and we will continue to do so.'‘ The chairman said that the DNC is committed to getting more black candidates on the ticket and has worked at having organizers around the country who are diverse and ``look like the folks whose votes they are asking for.''

  6. DISCUSSION: Coca Cola • Long history of success • $70 billion in “brand value” • ($12 billion for Pepsi) • 2/3 of revenue from overseas • almost everywhere in the world • Wide range of soft drinks • watermelon, ginger, etc. • Moving away from TV advertising • Red Lounge, mycokemusic.com

  7. GROUP DISCUSSION: Coca Cola • What have been the key success factors for Coca-Cola? • Where is Coca-Cola vulnerable? • What should they watch out for? • What recommendation would you make to their senior marketing executives going forward? • What should they be sure to do with their marketing?

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