14TH EDITION
1
Defining Marketing
for the 21st Century
1-2
WHAT IS MARKETING?
1-3
DISSECTION OF “MARKETING”
“Marketing is managing profitable customer
relationships” – The simplest Definition.
Goals:
1-7
WHAT IS MARKETING MANAGEMENT?
SIMPLIFIED
1-8
WHAT IS MARKETED?
Goods (Physical Goods) Places (Tajmahal, Sundarban)
1-9
DEMAND STATES
1-10
8 DEMAND STATES
1. Negative demand: consumers dislike the product and may even pay a price
to avoid it.
2. Nonexistent demand: consumers may be unaware or uninterested in the
product.
3. Latent demand: consumers may share a strong need that cannot be
satisfied by an existing product.
4. Declining demand: consumers begin to buy the product less frequently or
not at all.
5. Irregular demand: consumer purchases vary on a seasonal, monthly,
weekly, daily, or even hourly basis.
6. Full demand: consumers are adequately buying all products put into the
marketplace.
7. Overfull demand: more consumers would like to buy the product than can
be satisfied.
8. Unwholesome demand: consumers may be attracted to products that have
undesirable social consequences.
1-11
KEY CUSTOMER MARKETS
Global Markets
Consumer Market
Business goods/services.
Well trained & informed professional buyers who
are skilled in evaluating competitive offerings.
Business buyer buy goods to make or resell.
Marketers must demonstrate how the
product/service will help the buyers.
Sales force, reputation for quality/reliability, price
plays vital roles than Advertising.
1-14
GLOBAL MARKETS
1-15
NONPROFIT/GOVERNMENT MARKETS
Churches, Universities, Charitable
organization.
Marketers need to price carefully as the
buyers have limited buying capacity.
Bidding is popular; Party with the lower price
get selected.
1-16
MARKETS
Marketplaces Marketspaces
Value and
Satisfaction
CORE MARKETING CONCEPTS
Marketing
Channels
• Communication
Channel
• Distribution
Channel
• Service Channel Supply Chain
Start to End (Value Chain)
Marketing Environment
Competition
I WANT IT, I NEED IT…..
5 Types of Needs
1-20
THE NEW MARKETING REALITIES….
communications has made the life easier for marketers and buyers.
Consumer Buying Power: Buy from anywhere…even from office, During Journey
1-22
“NEW COMPANY CAPABILITIES”
1-23
“NEW COMPANY CAPABILITIES” - CONTINUES
1-24
MARKETING MANAGEMENT ORIENTATION
1-26
HOLISTIC MARKETING DIMENSIONS
RELATIONSHIP MARKETING
The ultimate goal of relationship marketing building marketing network,
which consists of the company & its supporting stakeholders (Customers,
Employees, Marketing Partners : Channels, Suppliers, Distributors, Dealers,
Retailers, Agencies, Financial Community : Shareholders, Stakeholders,
Financiers, Investors, Analysts, Society : well-wishers, scientists, professors,
environmentalists) with whom it has built manual profit relationships.
Whoever has a better network wins.
1-28
INTEGRATED MARKETING
1-29
INTERNAL MARKETING
1-30
PERFORMANCE MARKETING:
Financial Accountability
Justify investment in financial and profitability
terms, as well as building brands and increasing
customer base.
1-31
THE END
1-32