Defining Marketing For The 21st Century PDF

Defining Marketing for the 21st Century Discussion Questions 1. Why is marketing important? 2. What is the scope of marketing? 3. What are some fundamental...

Defining Marketing for the 21st Century Discussion Questions 1. Why is marketing important? 2. What is the scope of marketing? 3. What are some fundamental marketing concepts? 4. How has marketing management changed in recent years? 5. What are the task necessary for successful marketing management? Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 2 of 25  Marketing Demand Jobs Revenue Profits Giving Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 3 of 25  Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offers that have value for customers, clients, partners, and society at large. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 4 of 25  Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 5 of 25  What is Marketed? Persons Experiences Events Properties Organizations Information Ideas Goods Places Services Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 6 of 25 Who markets? Response Attention Purchase Donation Vote Marketer Prospect Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 7 of 25  Types of Demand Unwholesome Declining Nonexistent Latent Irregular Full Negative Overfull Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 8 of 25  Markets Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 9 of 25  Simple Marketing System Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 10 of 25  Key Customer Markets Global Markets Consumer Market Business Markets Government Market Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 11 of 25 Markets Marketplaces Marketspaces Metamarkets Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 12 of 25  Core Marketing Concepts Needs, Wants, and Demands Target Markets, Positioning, and Segmentation Offerings and Brands Value and Satisfaction Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 13 of 25  Core Marketing Concepts Marketing Channels Supply Chain Marketing Environment Competition Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 14 of 25 The New Marketing Realities Globalization Communicate Information w/Customer Collect Technology Information Major Societal New Company Forces Capabilities Consumer Differentiate Information Increased Goods Competition Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 15 of 25 Who is Responsible for Marketing? Entire Organization Marketing Department Chief Marketing Officer (CMO) Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 16 of 25  Marketing Concepts Quality Create, deliver, and Innovation communicate value Production Product Selling Marketing Societal Holistic Mass production Unsought goods Mass distribution Overcapacity Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 17 of 25  Holistic Marketing Dimensions Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 18 of 25  Relationship Marketing Build long-term relationships Develop marketing networks Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 19 of 25 Integrated Marketing Create, communicate, and deliver customer value Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 20 of 25 Internal Marketing Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 21 of 25 Performance Marketing Social Responsibility Financial Accountability Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 22 of 25  The Four P’s of the Marketing Mix Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 23 of 25 Marketing Management Tasks Developing market strategies and plans Capturing marketing insights Connecting with customers Building strong brands Shaping market offerings Delivering value Communicating value Creating long-term growth Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 24 of 25 In Class Activity Information technologies, globalization, increased competition, and a more informed consumer have altered the marketplace has changed significantly. While these have created challenges, they have generated a new set of capabilities. Do you agree with this statement? Justify your answer Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 25 of 25  Answer Internet can be used as a powerful information and sales channel Marketers can collect fuller and richer information about stakeholders New marketing tools such as social media Marketers can reach customers on the move via mobile marketing Make and sell individually differentiate products Companies can improve purchasing, recruiting, training and internal and external communication Facilitate and speed up internal communication Obtain cost efficiencies Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 26 of 25