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Chapter # 1

This document provides an overview of key concepts from the first chapter of the marketing management textbook. It defines marketing as identifying and meeting human and social needs profitably. The value of marketing is discussed in terms of financial success and socially responsible activities. Marketing decision making involves choosing target markets, features, prices, and spending. The scope of marketing covers what and who is marketed, as well as key customer markets. Core concepts are discussed like needs, wants, demands, segmentation, and marketing channels. New marketing realities are shaped by technology, globalization, and social responsibility. Different company orientations toward the marketplace are also summarized.

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khurram shahzad
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26 views

Chapter # 1

This document provides an overview of key concepts from the first chapter of the marketing management textbook. It defines marketing as identifying and meeting human and social needs profitably. The value of marketing is discussed in terms of financial success and socially responsible activities. Marketing decision making involves choosing target markets, features, prices, and spending. The scope of marketing covers what and who is marketed, as well as key customer markets. Core concepts are discussed like needs, wants, demands, segmentation, and marketing channels. New marketing realities are shaped by technology, globalization, and social responsibility. Different company orientations toward the marketplace are also summarized.

Uploaded by

khurram shahzad
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Marketing Management

15th Edition

By
Philip Kotler
Kevin Lane Keller
Chapter # 1
Defining Marketing for the New Realities
The Value of Marketing
Financial Success often depends on marketing
ability. Finance, operations, accounting and other
business functions will not really matter if there
is not sufficient demand for products and
services.
Successful marketing also allows firms to more
fully engage in socially responsible activities.
Marketing Decision Making
Marketing builds strong brands and a loyal customer
base, intangible assets that contribute heavily to the
value of a firm.

In an internet-fueled environment where consumers,


competition, technology and economic forces change
rapidly and consequences quickly multiply, marketers
must choose features, prices and markets and decide
how much to spend on advertising, sales, online and
mobile marketing.
The Scope of Marketing
What is Marketing
Identifying and meeting human and social
needs.

“Meeting needs profitably”

Exp: Google , IKEA


The Scope of Marketing
Marketing Management
The art and science of choosing target
markets and getting, keeping and growing
customers through creating, delivering, and
communicating superior customer value.
The Scope of Marketing
Selling is a part of marketing.

The aim of marketing is to know and


understand the customer.

Exp: Apple iPad, Toyota prius (hybrid


automobile)
The Scope of Marketing
What is Marketed?
Properties
Goods Information
Services Organizations
Events
Experiences
Persons
Places
The Scope of Marketing
Who Markets?
A marketer is someone who seeks a response,
attention, a purchase, a donation from another
party, called the prospects.
Types of demands
Negative demand Nonexistent demand
Latent demand Declining demand
Irregular demand Full demand
Overfull demand Unwholesome demand
The Scope of Marketing
Markets
A place where buyer and sellers gathered to
buy and sell goods.
Five basic markets
Manufacturer markets Resource markets
Intermediary markets Consumer market
Government markets
Structure of Flows in a modern Exchange
Economy
The Scope of Marketing

Key customer markets


Consumer markets
Business markets
Global markets
Nonprofit and governmental markets
Core Marketing Concepts
Needs – are basic human requirements.
Wants – Needs become wants when they are
directed to specific objects that might satisfy the
need. Needs are shaped by our society.
Demands – are wants for specific products
backed by an ability to pay.

Segmentation Target market


Positioning
Core Marketing Concepts
 Offering and Brand
 Marketing channels
(communication, Distribution, service channels)
 Paid, Owned and Earned Media
 Impressions and Engagement
 Value and Satisfaction
 Supply chain
 Competition
 Marketing environment
The New Marketing Realities
Three transformative forces:

Technology
Globalization
Social responsibility
Marketing in Practice

Marketing Balance
Marketing Accountability
Marketing in the Organization
Company Orientation toward
the Marketplace
Evolution of Marketing
The production concept (production efficiency)
The product concept (Quality, performance, innovative
features)

The selling concept (Sell what you make)


The marketing concept (Focus on the need of the customer)
Holistic marketing concept

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