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MM - Lecture 1 - Introduction To Marketing Management

This document discusses key concepts in marketing management. It defines marketing as identifying and meeting human and social needs in a way that aligns with organizational goals. Marketing management orientations like the production, product, and selling concepts are introduced, which focus on availability, product attributes, and promotion respectively. The marketing concept emphasizes understanding customer needs and delivering superior value compared to competitors. The societal marketing concept considers customer, company, and social welfare. Customer satisfaction requires fulfilling underlying needs rather than wants alone to avoid marketing myopia.

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116 views34 pages

MM - Lecture 1 - Introduction To Marketing Management

This document discusses key concepts in marketing management. It defines marketing as identifying and meeting human and social needs in a way that aligns with organizational goals. Marketing management orientations like the production, product, and selling concepts are introduced, which focus on availability, product attributes, and promotion respectively. The marketing concept emphasizes understanding customer needs and delivering superior value compared to competitors. The societal marketing concept considers customer, company, and social welfare. Customer satisfaction requires fulfilling underlying needs rather than wants alone to avoid marketing myopia.

Uploaded by

Duyên Nguyễn
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MARKETING

MANAGEMENT

Marketing for the New Realities


W H AT I S M A R K E T I N G ?

1. DO YOU AGREE THAT MARKETING IS ADVERTISING? EXPLAIN

2. CAN YOU DEFINE THE MARKETING CONCEPT AND MARKETING


MANAGEMENT IN YOUR OWN WORDS?

3. WHAT IMPRESSED YOU DURING THE COURSE PRINCIPLES OF


MARKETING?

4. WHAT DO YOU EXPECT FROM THIS COURSE?


DEFINITION OF MARKETING

• Marketing is about identifying and meeting human and social


needs in a way that harmonizes with the goals of the
organization.
• AMA’s formal definition: Marketing is the activity, set of
institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for
customers, clients, partners, and society at large.
WHO MARKETS?

• A marketer is someone who seeks a response—


attention, a purchase, a vote, a donation—from another
party, called the prospect.
KEY CUSTOMER MARKETS

• Consumer markets
• Business markets [client]
• Global markets
• Non-profit & governmental markets
C U S T O M E R N E E D S , WA N T S , A N D
DEMANDS
W H AT I S M A R K E T E D ?

• Goods
• Services
• Events
• Experiences
• Persons
• anything else???
C A N Y O U G I V E E X A M P L E S O F W H AT I S
MARKETED?
• Goods
• Services
• Events
• Experiences
• Persons
• Places
• Properties (rights of ownership to real property (real estate) or financial
property (stocks and bonds)
• Organizations: uy tín
• Information:
• Ideas
MARKET OFFERINGS

• Market offerings are some combination of products, services,


information, or experiences offered to a market to satisfy a
need or a want.
A D V E RT I S I N G & M A R K E T I N G I N
N O N P R O F I T O R G A N I Z AT I O N S

• https://www.youtube.com/watch?v=6aR
USjGjE9o

Why is marketing important to non-profit


organisations?
EXCHANGE

• Exchange is the act of obtaining a desired object from


someone by offering something in return.
MARKET

Marketers view industry as a group of sellers and use the term


market to describe customer groups.

There are need markets (the diet-seeking market), product


markets (the shoe market), demographic markets (the “Millennium”
youth market), and geographic markets (the Chinese market), as
well as voter markets, labor markets, and donor markets.
(charity..)
C U S T O M E R VA L U E A N D S AT I S F A C T I O N

what is the total cost related to buying and using a fridge?


W H AT I S M A R K E T I N G

• Marketing is about identifying and meeting human and social


needs in a way that harmonizes with the goals of the
organization.
• AMA’s formal definition: Marketing is the activity, set of
institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for
customers, clients, partners, and society at large.
MARKETING MANAGEMENT
WHY?
• The art and science of choosing target markets and getting,
keeping, and growing customers through creating, delivering,
and communicating superior customer value.
THE NEW MARKETING REALITIES
MARKETING MANAGEMENT
O R I E N T AT I O N S

???????
PRODUCTION CONCEPT

Production concept is the idea that consumers will


favour products that are available or highly affordable.
PRODUCT CONCEPT

• Product concept is the idea that consumers will favour


products that offer the most quality, performance, and
features. Organisations should therefore devote its
energy to making continuous product improvements.
Hạn chế, công nghệ thay đổi,
MARKETING MYOPIA

• Marketing myopia is focusing only on existing wants and


losing sight of underlying consumer needs.
THE EXPLAINER: DON’T JUST SELL
S T U F F — S AT I S F Y N E E D S

https://www.youtube.com/watch?v=hw8Ff
ogTUhU

• What is marketing myopia?


• What cures marketing myopia?
SELLING CONCEPT

• Selling concept is the idea that consumers will not buy enough
of the firm’s products unless it undertakes a large scale selling
and promotion effort.
• Bảo hiểm,
MARKETING CONCEPT

• Marketing concept is the idea that achieving organizational


goals depends on knowing the needs and wants of the target
markets and delivering the desired satisfactions better than
competitors do.
S O C I E TA L M A R K E T I N G C O N C E P T

• Societal marketing concept is the idea that a company should


make good marketing decisions by considering consumers’
wants, the company’s requirements, consumers’ long-term
interests, and society’s long run interests.
S O C I E TA L M A R K E T I N G C O N C E P T
IN CLASS GROUP DISCUSSION AND
P R E S E N T AT I O N

1. What marketing management orientation does the following saying reflect?


If we “build a better mouse trap, the world will beat a path to our doors”.
2. What kinds of market offerings is the selling concept typically practiced with?
3. What is the main difference between the selling concept and the marketing concept?
4. Give examples of companies that know what customers needs and wants and
successfully satisfy their needs. Do customers always know what they want?
5. Give an example of a company that follows societal marketing concept.

customer-driven marketing VS. customer-driving marketing?


S TA R B U C K S

https://youtu.be/llwyY4BDbfc
Watch the video and answer the following questions:
- Why has Starbucks struggled to grow in Vietnam?
- What consumer needs does a coffee chain satisfy?
- What are the Vietnamese consumers’ top reasons to
visit a Western coffee chain?
- What consumers needs does Starbucks satisfy?
- What do Vietnamese consumers look for in a cup of
coffee?
- What is the third-wave coffee movement?
- Why are local coffee chains are more flexible than
international coffee chains?
CUSTOMER
EXPERIENCE

• https://www.youtube.com/watch?v=GH1TX
fQSwUQ

- What is customer experience?


- Why is it important?
I S S O C I E TA L
MARKETING
SIMILAR TO
SOCIAL
MARKETING?
REFERENCES

Kotler, P. and Armstrong, G. (2017) Principles of Marketing. 17the ed. London: Pearson
Kotler, Keller and Chernev (2021) Marketing Management, 16 th ed. Global Edition.
Pearson

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