1

Defining Marketing
for the 21st Century

Marketing Management, 13th ed

Chapter Questions
Why is marketing important?
What is the scope of marketing?
What are some fundamental marketing
concepts?
How has marketing management
changed?
What are the tasks necessary for
successful marketing management?
Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall

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.

Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall

What is Marketing Management?

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 2009 Pearson Education, Inc. Publishing as Prentice Hall

What is Marketed?
Goods
Services
Events and
experiences
Persons

Places and
properties
Organizations
Information
Ideas

Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall

Demand States

Negative
Nonexistent
Latent
Declining

Irregular
Unwholesome
Full
Overfull

Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall

Key Customer Markets

Consumer markets
Business markets
Global markets
Nonprofit/Government markets

Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall

Company Orientations

Production
Product
Selling
Marketing

Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall

Marketing Mix and the Customer

Four Ps
Product
Price
Place
Promotion

Four Cs
Customer
solution
Customer cost
Convenience
Communication

Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall

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

Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall

Marketing Management Tasks

Developing
marketing strategies
Capturing marketing
insights
Connecting with
customers
Building strong
brands

Shaping market
offerings
Delivering value
Communicating
value
Creating longterm growth

Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall

Functions of CMOs
Strengthening the brands
Measuring marketing effectiveness
Driving new product development
based on customer needs
Gathering meaningful customer
insights
Utilizing new marketing technology
Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall

Figure 1.3 Improving CMO Success

(cont.)
Make the mission and responsibilities clear
Fit the role to the marketing culture and
structure
Ensure the CMO is compatible with the CEO
Remember that show people dont succeed
Match the personality with the CMO type
Make line managers marketing heroes
Infiltrate the line organization
Require right-brain and left-brain skills
Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall

New Consumer Capabilities

A substantial increase in buying power
A greater variety of available goods and
services
A great amount of information about
practically anything
Greater ease in interacting and placing and
receiving orders
An ability to compare notes on products and
services
An amplified voice to influence public opinion
Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall

Internal Marketing
Internal marketing is the task of
hiring, training, and motivating able
employees who want to serve
customers well.

Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall

Performance Marketing
Financial Accountability
Social Responsibility
Marketing

Social Initiatives
Corporate social
marketing
Cause marketing
Corporate philanthropy
Corporate community
involvement
Socially responsible
business practices

Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall

Marketing Management Tasks

Develop market strategies and plans

Capture marketing insights
Connect with customers
Build strong brands
Shape market offerings
Deliver value
Communicate value
Create long-term growth

Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall