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 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

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

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

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

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

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…..

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

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

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

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

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

Four Ps

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

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

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

Customers Front-line people Middle management Customers Customers Top management Customer-Oriented Organization Chart

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

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

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

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

Marketing in the Twenty-first Century

Marketing in the Twenty-first Century

Presentation Transcript

Part I – Entrepreneurship in the Twenty-First Century

INFORMATION ETHICS IN THE TWENTY FIRST CENTURY

TWENTY-FIRST CENTURY TANK CLEANING

Twenty-First Century Psychotherapies

Business Ethics In The Twenty-First Century

Redefining Writing in the Twenty-first Century:

QCD in the Twenty-First Century

Anglos and Mexicans in the Twenty First Century

First Century Morals in the Twenty First Century

Being a Graduate in the Twenty-first Century

Marketing in the Twenty-first Century

INFORMATION ETHICS IN THE TWENTY FIRST CENTURY

GEOGRAPHIC ISSUES of the Twenty-first Century

The MIRAB Model in the Twenty-First Century

ANTIQUARIAN BOOKS IN THE TWENTY-FIRST CENTURY

Chapter Thirteen Religion in the Twenty-First Century

Being a Graduate in the Twenty-first Century

TO THE TWENTY-FIRST CENTURY, 1989-

Twenty-First Century Psychotherapies

MENTORING STRATEGIES For the Twenty-First Century

The Twenty-First Century Student

Being a Graduate in the Twenty-first Century