1marketing Introduction

1
Defining Marketing for the 21st Century
Marketing Management
A South Asian Perspective, 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 Dorling Kindersley (India) Pvt. Ltd. 1-2
Good Marketing is No Accident

The roaring success of four-wheeler Tata Ace, in a market earlier dominated by three-wheeler load carriers, was due to a deep understanding of the market needs and customer requirements.
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 Dorling Kindersley (India) Pvt. Ltd.
1-4
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.
1-5
Selling is only the tip of the iceberg
There will always be a need for some selling. But the aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy. All that should be needed is to make the product or service available. Peter Drucker
What is Marketed?
Goods Services Events & Experiences Persons Places & Properties Organizations Information Ideas
Successful New Product Launches Require Careful Planning
1-8
Marketing Can Promote Ideas
1-9
Figure 1.1 Structure of Flows in a Modern Exchange Economy
1-10
Figure 1.2 A Simple Marketing System
1-11
Demand States
Negative Nonexistent Latent
Declining
Irregular
Full
Overfull
Unwholesome
1-12
Key Customer Markets

Consumer Markets Global Markets
Business Markets
Nonprofit/ Government Markets
1-13
www.marutitruevalue.com
1-14
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
1-15
Figure 1.3 Improving CMO Success

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
Core Marketing Concepts

Needs, wants, and demands Target markets, positioning, segmentation Offerings and brands Value and satisfaction Marketing channels Supply chain Competition Marketing environment
1-17
Positioning
Press ads of the Scorpio focused on the functional features of the vehicle and the television ads focused on emotional benefits.
1-18
The marketplace isnt what it used to be

Information technology Globalization Deregulation Privatization Competition Convergence Consumer resistance Retail transformation
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
Company Orientations
Production
Product
Selling
Marketing
1-21
Figure 1.4 Holistic Marketing Dimensions
1-22
RBC emphasizes a relationship marketing approach
1-23
Figure 1.5 The Four Ps
1-24
Internal Marketing
Internal marketing is the task of hiring, training, and motivating able employees who want to serve customers well.
1-25
Performance Marketing
Financial Accountability Social Responsibility Marketing
Social Initiatives Corporate social marketing Cause marketing Cause-related marketing Corporate philanthropy Corporate community involvement Socially responsible business practices
1-26
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
1-27
Marketing Debate: Take a Position!

Does marketing shape consumer needs? or Does marketing merely reflect the needs and wants of consumers?
1-28
Marketing Discussion
Consider the societal forces noted in the chapter (e.g., information technology, globalization, deregulation, consumer resistance, retail transformation). How have marketing practices shifted to accommodate and even leverage these forces?

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1

Defining Marketing for the 21st Century

Good Marketing is No Accident

Copyright 2009 Dorling Kindersley (India) Pvt. Ltd.

What is Marketing Management?

Copyright 2009 Dorling Kindersley (India) Pvt. Ltd.

Selling is only the tip of the iceberg

Successful New Product Launches Require Careful Planning

Copyright 2009 Dorling Kindersley (India) Pvt. Ltd.

Marketing Can Promote Ideas

Copyright 2009 Dorling Kindersley (India) Pvt. Ltd.

Figure 1.1 Structure of Flows in a Modern Exchange Economy

Copyright 2009 Dorling Kindersley (India) Pvt. Ltd.

Figure 1.2 A Simple Marketing System

Copyright 2009 Dorling Kindersley (India) Pvt. Ltd.

Copyright 2009 Dorling Kindersley (India) Pvt. Ltd.

Key Customer Markets

Nonprofit/ Government Markets

Copyright 2009 Dorling Kindersley (India) Pvt. Ltd.

Copyright 2009 Dorling Kindersley (India) Pvt. Ltd.

Copyright 2009 Dorling Kindersley (India) Pvt. Ltd.

Figure 1.3 Improving CMO Success

Core Marketing Concepts

Copyright 2009 Dorling Kindersley (India) Pvt. Ltd.

Copyright 2009 Dorling Kindersley (India) Pvt. Ltd.

The marketplace isnt what it used to be

New Consumer Capabilities

Copyright 2009 Dorling Kindersley (India) Pvt. Ltd.

Figure 1.4 Holistic Marketing Dimensions

Copyright 2009 Dorling Kindersley (India) Pvt. Ltd.

RBC emphasizes a relationship marketing approach

Copyright 2009 Dorling Kindersley (India) Pvt. Ltd.

Figure 1.5 The Four Ps

Copyright 2009 Dorling Kindersley (India) Pvt. Ltd.

Copyright 2009 Dorling Kindersley (India) Pvt. Ltd.

Copyright 2009 Dorling Kindersley (India) Pvt. Ltd.

Marketing Management Tasks

Copyright 2009 Dorling Kindersley (India) Pvt. Ltd.

Marketing Debate: Take a Position!

Copyright 2009 Dorling Kindersley (India) Pvt. Ltd.

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