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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.

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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.

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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.

Copyright 2009 Dorling Kindersley (India) Pvt. Ltd.

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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
Copyright 2009 Dorling Kindersley (India) Pvt. Ltd.

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What is Marketed?
Goods
Goods
Services
Services
Events
Events &
& Experiences
Experiences
Persons
Persons
Places
Places &
& Properties
Properties
Organizations
Organizations
Information
Information
Ideas
Ideas
Copyright 2009 Dorling Kindersley (India) Pvt. Ltd.

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Figure 1.1 Structure of Flows in a Modern


Exchange Economy

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Figure 1.2 A Simple Marketing System

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Demand States
Negative

Nonexistent

Declining

Full

Latent

Irregular

Overfull

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Unwholesome

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Key Customer Markets


Consumer Markets

Business Markets

Copyright 2009 Dorling Kindersley (India) Pvt. Ltd.

Global Markets

Nonprofit/ Government Markets

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MARKETPLACES
MARKETSPACES
METAMARKETS

Copyright 2009 Dorling Kindersley (India) Pvt. Ltd.

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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
Copyright 2009 Dorling Kindersley (India) Pvt. Ltd.

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Core Marketing Concepts


Needs, wants, and
demands
Target markets,
positioning,
segmentation
Offerings and
brands

Copyright 2009 Dorling Kindersley (India) Pvt. Ltd.

Value and
satisfaction
Marketing channels
Supply chain
Competition
Marketing
environment

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Positioning
Press ads of the
Scorpio focused on
the functional
features of the
vehicle and the
television ads
focused on emotional
benefits.

Copyright 2009 Dorling Kindersley (India) Pvt. Ltd.

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The marketplace isnt what it used to be


Information
Information technology
technology
Globalization
Globalization
Deregulation
Deregulation
Privatization
Privatization
Competition
Competition
Convergence
Convergence
Consumer
Consumer resistance
resistance
Retail
Retail transformation
transformation
Copyright 2009 Dorling Kindersley (India) Pvt. Ltd.

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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
Copyright 2009 Dorling Kindersley (India) Pvt. Ltd.

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Company Orientations

Production

Product

Selling

Marketing

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Figure 1.4 Holistic Marketing Dimensions

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Figure 1.5 The Four Ps

Copyright 2009 Dorling Kindersley (India) Pvt. Ltd.

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