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    Chapter 1 MM

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    Pyae Sone Oo
    This document provides an overview of key marketing concepts. It defines marketing as creating and delivering value for customers and managing customer relationships. The document outlines fundamental concepts such as the marketing mix, target markets, and customer value. It also discusses how marketing has evolved from a production focus to a customer-centric approach and highlights important tasks for modern marketing management.

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    Chapter 1 MM

    Uploaded by

    Pyae Sone Oo
    34 views37 pages
    This document provides an overview of key marketing concepts. It defines marketing as creating and delivering value for customers and managing customer relationships. The document outlines fundamental concepts such as the marketing mix, target markets, and customer value. It also discusses how marketing has evolved from a production focus to a customer-centric approach and highlights important tasks for modern marketing management.

    Original Description:

    Marketing Introduction

    Original Title

    Chapter 1 MM

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    This document provides an overview of key marketing concepts. It defines marketing as creating and delivering value for customers and managing customer relationships. The document outlines fundamental concepts such as the marketing mix, target markets, and customer value. It also discusses how marketing has evolved from a production focus to a customer-centric approach and highlights important tasks for modern marketing management.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    34 views37 pages

    Chapter 1 MM

    Uploaded by

    Pyae Sone Oo
    This document provides an overview of key marketing concepts. It defines marketing as creating and delivering value for customers and managing customer relationships. The document outlines fundamental concepts such as the marketing mix, target markets, and customer value. It also discusses how marketing has evolved from a production focus to a customer-centric approach and highlights important tasks for modern marketing management.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 37

    1

    Defining Marketing
    for the 21st Century

    Thawdar Htwe
    Global MBA (UTCC. Thailand)
    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?

    1-2
    Good Marketing is No Accident

    Starbucks plans to
    ensure its marketing
    successes in
    countries around the
    world.

    1-3
    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.

    1-4
    Basic Marketing Concepts
    • Exchange
    •The process of obtaining a desired product from
    someone by offering something in return

    • Five Conditions for an exchange to take place:


    •There must be at least two parties involved
    •Each party has something of value for the other party to
    engage in the exchange
    •Each party is capable of communication and delivery
    throughout the exchange
    •Each party is free to accept/reject the exchange offer
    •Each party believes it is appropriate to deal with the
    other party
    1-5
    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.

    1-6
    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

    1-7
    What is Marketed?
    Goods

    Services
    Events & Experiences
    Persons

    Places & Properties


    Organizations
    Information

    Ideas
    1-8
    Successful New Product Launches
    Require Careful Planning

    1-9
    Marketing Can Promote Ideas

    1-10
    Figure 1.1 Structure of Flows in a Modern
    Exchange Economy

    1-11
    Figure 1.2 A Simple Marketing System

    1-12
    Demand States

    Negative Nonexistent Latent

    Declining Irregular

    Full Overfull Unwholesome

    1-13
    Key Customer Markets
    Consumer Markets Global Markets

    Business Markets Nonprofit/ Government Markets

    1-14
    Edmunds.com:
    A Metamediary Website

    1-15
    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

    1-16
    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 don’t succeed
    • Match the personality with the CMO type
    • Make line managers marketing heroes
    • Infiltrate the line organization
    • Require right-brain and left-brain skills

    1-17
    Core Marketing Concepts

    • Needs, wants, and • Value and


    demands satisfaction
    • Target markets, • Marketing channels
    positioning, • Supply chain
    segmentation • Competition
    • Offerings and • Marketing
    brands environment

    1-18
    I want it, I need it…

    Five Types of Needs

    • Stated needs
    • Real needs
    • Unstated needs
    • Delight needs
    • Secret needs

    1-19
    Target Markets, Positioning & Segmentation

    1. Marketers start by dividing the market into segments. Identify and


    profile distinct groups of buyers who might prefer or require varying
    products/services mixes by examining:

    *Demographic information
    *Psychographic information
    *Behavioral information

    2. Target market – which group presents the greatest opportunity.

    1-20
    Offerings and Brands
    Companies address customer needs by putting forth a Value proposition, a set of
    benefit they offer to customers to satisfy their needs. The intangible value proposition is
    made physical by an offering, which can be a combination of products, services,
    information, and experiences.

    Brand is an offering from a known source. All companies strive to built a brand image
    which as many strong favorable, and unique brand association as possible.

    1-21
    Value and Satisfaction
    The buyer choose the offering he or she perceived to deliver the most value, the
    sum of the tangible and intangible benefits and costs to his or her.

    Value is a central market concept.

    Customer value triad is the combination of quality, service, and price (qsp).
    Value perceptions increase with quality and services but decrease with price.

    1-22
    The marketplace isn’t what it used to be…

    Information technology
    Globalization
    Deregulation

    Privatization
    Competition
    Convergence
    Consumer resistance

    Retail transformation

    1-23
    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

    1-24
    Company Orientations

    Production Product

    Selling Marketing

    1-25
    Company Orientations
    Review of the evolution of earlier marketing ideas:

    Production Concept holds that consumers will prefer products that are
    widely available and inexpensive

    Product Concept holds that consumers will favor those products that offer
    the most quality, performance, or innovative features.

    Selling Concept holds that consumers and businesses, will ordinarily not
    buy enough of the organization’s products, therefore, the organization
    must undertake aggressive selling and promotion effort.

    Marketing Concept holds that the key to achieving organizational goals


    consists of the company being more effective than competitors in
    creating, delivering, and communicating superior customer value to your
    chosen target markets.

    1-26
    Figure 1.4 Holistic Marketing Dimensions

    1-27
    RBC emphasizes a
    relationship marketing approach

    1-28
    Figure 1.5 The Four P’s

    1-29
    The New 4 P’s

    OLD 4 P’s NEW 4 P’s


    ……………………………………………………………
    Product People
    Place Processes
    Promotion Programs
    Price Performance

    1-43
    1-30
    The New Four Ps
    If we update the Four Ps to reflect the holistic marketing concept, we arrive at a
    more representative set the encompasses modern marketing realities:

    People: Reflect internal marketing and the fact that employees are critical to
    marketing success.

    Processes: Reflect all the creativity, discipline, and structure brought to


    marketing management.

    Programs: Reflect all of the firm’s consumer-directed activities.

    Performance: Is holistic marketing to capture the range of possible


    outcomes/measures that have financial and non-financial implications,
    and implications beyond the company itself.

    1-31 1-44
    Carnival uses
    online marketing activities

    1-32
    Internal Marketing

    Internal marketing is the task of


    hiring, training, and motivating able
    employees who want to serve
    customers well.

    1-33
    Performance Marketing

    • Financial Social Initiatives


    Accountability • Corporate social
    • Social marketing
    Responsibility • Cause marketing
    Marketing • Corporate philanthropy
    • Corporate community
    involvement
    • Socially responsible
    business practices

    1-34
    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

    1-35
    Marketing Debate:
    Take a Position!

    Does marketing shape consumer needs?


    or
    Does marketing merely reflect the needs
    and wants of consumers?

    1-36
    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?

    1-37

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