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MKT: 601
Chapter01: Defining Marketing for the 21st Century
The Importance of marketing
The Scope of Marketing
What is Marketing
What is Marketed

Goods
Services
Events
Experiences
Persons
Places
Properties
Organizations
Information
Ideas

Olympic
Fantasy Kingdom
Celebrity
Tourism
Stock
Philips (Sense and Sensibility)
Magazine
AIDS

Who Markets
Marketers and Prospect

Negative demand
price to avoid it.
Nonexistent demand
uninterested
Latent demand
satisfied
Declining demand
less frequently
Irregular demand
Full demand
products
Overfull demand
product
Unwholesome demand
consequences.

- dislikes the product and may even pay a

- Consumers may be unaware or
- share a strong need that cannot be
- Consumers begin to buy the product
- Consumer purchases vary on a seasonal
- Consumers are adequately buying all
- More consumers would like to buy the
- products that have undesirable social

Markets
Key Customer Markets
Consumer Markets
Business Markets
Global Markets
MNH, MKT 601, CH 01-14th

Nonprofit and Governmental Markets

Marketplaces, Market spaces and Metamarkets

Core Marketing Concepts
Needs, Wants and Demands
Stated needs (Inexpensive cars)
Real needs (low operating costs car)
Unstated needs (good service)
Delight needs (Onboard navigation by dealer)
Secret needs (Show others)
Target markets, Positioning and Segmentation
Offerings and Brands
Value and Satisfactions
Marketing Channels
Supply chain
Competition
Marketing environment
The New Marketing Realities
Major Societal forces
Network information
technology
Globalization
Deregulation
Privatization
Heightened Competition
Industry convergence
(Combining, home
theater)

Consumer resistance
Retail transformation
(Direct mail)
Disintermediation
Consumer buying power
Consumer information
Consumer participation
Consumer resistance

New Company Capabilities

Marketers can use the Internet as a powerful information
and sales channel
MNH, MKT 601, CH 01-14th

Marketers can collect fuller and richer information about

markets, customers, prospects, and competitors
Marketers can tap into social media to amplify their
brand message.
Marketers
can
facilitate
and
speed
external
communication among customers
Marketers can send ads, coupons, samples, and
information to customers who have requested them or
given the company permission to send them.
Marketers can reach consumers on the move with mobile
marketing
Companies can make and sell individually differentiated
goods
Companies can improve purchasing, recruiting, training,
and internal and external communications.
Companies can facilitate and speed up internal
communication among their employees by using the
Internet as a private intranet
Companies can improve their cost efficiency by skillful
use of the Internet.
THE NEW CMO
Innate Qualities
Risk taker
Willingness to make
decisions
Problem-solving ability
Change agent
Results-oriented

Learned Qualities
Global experience
Multichannel expertise
Cross-industry experience
Digital focus
Operational knowledg

MARKETING IN THE ORGANIZATION

Company orientation towards the marketplace
The Production concept
[1920-]
The Product concept
[1930-diversified product line]
The Selling concept
[Aggressive salespeople, mid
1930]
The Marketing concept
[1950]
The Holistic Marketing concept
MNH, MKT 601, CH 01-14th

Based on the development, design and implementation of

marketing programs, processes and activities that recognize
their breadth and interdependencies.
Relationship marketing
Aims to built mutually
satisfying long-term
relationship with
Customers
Employees
Marketing partners
Integrated marketing
Communication
Product and Services
Channels

Corporate social Marketing

Cause marketing
Cause related marketing
Corporate philanthropy
Corporate community
involvement
Socially responsible business
practices

Internal Marketing
Marketing department
Senior management
Other departments
Performance Marketing
Sales revenue
Brand and customer
equity
Ethics
Environment
Legal
Community
Financial Accountability
Social Responsibility
Marketing
Campaign to change
behavior
Sponsoring social
events
Donating from sale
Direct donate
Do something for
betterment
Recycle packaging

MNH, MKT 601, CH 01-14th

Updating the Four Ps

Product
Price
Product
List price
variety
Discounts
Quality
Allowances
Design
Payment
Features
period
Brand name
Credit terms
Packaging
Sizes
Services
Warranties
Returns
Marketing Mix Four Ps
Product
Place
Promotion
Price

Promotion
Sales
promotion
Advertising
Sales force
Public
relations
Direct
marketing

Place
Channels
Coverage
Assortments
Locations
Inventory
Transport

Modern Marketing
Management Four Ps
People
Processes
Programs
Performance

Marketing management tasks

Developing Marketing strategies and plans [2]
Capturing Marketing insights[3, 4]
Connecting with customers[5-8]
Building strong brands[9-11]
Shaping the market offerings[12-14]
Delivering values[15,16]
Communicating values[17-19]
Creating long term growth[20-22]

MNH, MKT 601, CH 01-14th