Defining Marketing For The 21 Century: CH Ap Te r1

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Defining Marketing for the 21st Century


Discussion Questions
1. Why is marketing important?
2. What is the scope of marketing?
3. What are some fundamental
marketing concepts?
4. How has marketing management
changed in recent years?
5. What are the task necessary for
successful marketing management?
Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 2 of 25
Marketin
g

Demand Jobs

Revenue Profits Giving

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ed
fin
De
Marketing is the activity, set of
institutions, and processes for
creating, communicating, delivering,
and exchanging offers that have
value for customers, clients, partners,

and society at large.

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ed
fin
De 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.

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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

1-6
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What is Marketed?
Persons • Experiences
• Events
• Properties
• Organizations
• Information
• Ideas

Goods

Services Places
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Who markets?

Response
Attention
Purchase

Donation
Vote

Marketer Prospect

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Types of Demand

Unwholesome Declining

• Nonexistent
• Latent
Irregular • Full
Negative • Overfull
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. 1
1
u re Markets
Fig

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. 2
e 1
u r
Fig Simple Marketing System

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Key Customer Markets
Global Markets

Consumer Market

Business Markets Government Market


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Markets

Marketplaces Marketspaces

Metamarkets
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Core Marketing Concepts

Needs, Wants, and Demands

Target Markets, Positioning,


and Segmentation

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Core Marketing Concepts

Offerings and Brands


Value and Satisfaction

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Core Marketing Concepts

Marketing Channels

Supply Chain

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Core Marketing Concepts

Marketing Environment
Competition

Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 17 of 25


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