Scribd
Upload
36 views20 pages

Defining Marketing For The 21 Century

This document provides an overview of key concepts in 21st century marketing. It defines marketing as creating and delivering value for customers through managing relationships. Marketing management is choosing target markets and growing customer relationships through superior value. Selling is only part of marketing, which aims to make selling unnecessary by deeply understanding customers. Marketing encompasses goods, services, ideas and more. It discusses frameworks for modern exchange economies and marketing systems, different demand states, key customer markets, and the functions of Chief Marketing Officers.

Uploaded by

Ashish Mittal
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
36 views20 pages

Defining Marketing For The 21 Century

This document provides an overview of key concepts in 21st century marketing. It defines marketing as creating and delivering value for customers through managing relationships. Marketing management is choosing target markets and growing customer relationships through superior value. Selling is only part of marketing, which aims to make selling unnecessary by deeply understanding customers. Marketing encompasses goods, services, ideas and more. It discusses frameworks for modern exchange economies and marketing systems, different demand states, key customer markets, and the functions of Chief Marketing Officers.

Uploaded by

Ashish Mittal
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
You are on page 1/ 20

Defining Marketing st Century for the 21

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.

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.

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

Structure of Flows in a Modern Exchange Economy

A Simple Marketing System

Demand States
Negative demand
Non-existent demand Latent demand Declining demand

Irregular demand
Full demand Overfull demand Unwholesome demand

Key Customer Markets


Consumer Markets Global Markets

Business Markets

Nonprofit/ Government Markets

Marketplaces, Marketspaces & Metamarkets


Marketplace: is physical such as a store you shop in. Marketspace: is digital, as when you shop on the Internet. Metamarket: a cluster of complementary products and services that are

closely related in the minds of consumer, but spread across a diverse set of industries.

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

Core Marketing Concepts


Needs, wants, and demands

Target markets, positioning, segmentation


Offerings and brands Value and satisfaction Marketing channels

Supply chain
Competition Marketing environment

The New Marketing Realities


Network information technology Globalization

Deregulation
Privatization Heightened competition Industry convergence

Consumer resistance
Retail transformation Disintermediation

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 concept
Product concept Selling concept Marketing concept

Holistic Marketing Dimensions

Relationship marketing approach


Relationship Marketing aims to build mutually satisfying long-term

relationships with key constituents in order to earn and retain their business.

The Four Ps

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

Performance Marketing
Financial Accountability Social Responsibility

Marketing

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy