Defining Marketing for the 21 st Century Marketing Management, 13 th ed 1 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-2 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 Pearson Education, Inc. Publishing as Prentice Hall 1-3 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 Pearson Education, Inc. Publishing as Prentice Hall 1-4 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 Pearson Education, Inc. Publishing as Prentice Hall 1-5 What is Marketed? • Goods • Services • Events and experiences • Persons • Places and properties • Organizations • Information • Ideas Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-6 Demand States • Negative • Nonexistent • Latent • Declining • Irregular • Unwholesome • Full • Overfull Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-7 Key Customer Markets • Consumer markets • Business markets • Global markets • Nonprofit/Government markets Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-8 Company Orientations • Production • Product • Selling • Marketing Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-9 Marketing Mix and the Customer Four Ps • Product • Price • Place • Promotion Four Cs • Customer solution • Customer cost • Convenience • Communication Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-10 Core Concepts • Needs, wants, and demands • Target markets, positioning, segmentation • Offerings and brands • Value and satisfaction • Marketing channels • Supply chain • Competition • Marketing environment • Marketing planning [...]... Publishing as Prentice Hall Internal Marketing Internal marketing is the task of hiring, training, and motivating able employees who want to serve customers well Copyright © 2009 Pearson Education, Inc Publishing as Prentice Hall Performance Marketing • Financial Accountability • Social Responsibility Marketing • Social Initiatives • Corporate social marketing • Cause marketing • Corporate philanthropy.. .Marketing Management Tasks • Developing marketing strategies • Capturing marketing insights • Connecting with customers • Building strong brands • Shaping market offerings • Delivering value • Communicating value • Creating longterm growth Copyright © 2009 Pearson Education, Inc Publishing as Prentice Hall Functions of CMOs • Strengthening the brands • Measuring marketing effectiveness... Utilizing new marketing technology Copyright © 2009 Pearson Education, Inc Publishing as Prentice Hall Figure 1.3 Improving CMO Success (cont.) • Make the mission and responsibilities clear • Fit the role to the marketing culture and structure • Ensure the CMO is compatible with the CEO • Remember that show people don’t succeed • Match the personality with the CMO type • Make line managers marketing heroes... philanthropy • Corporate community involvement • Socially responsible business practices Copyright © 2009 Pearson Education, Inc Publishing as Prentice Hall Marketing Management Tasks • • • • • • • • Develop market strategies and plans Capture marketing insights Connect with customers Build strong brands Shape market offerings Deliver value Communicate value Create long-term growth Copyright © 2009 . 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. satisfaction • Marketing channels • Supply chain • Competition • Marketing environment • Marketing planning Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-11 Marketing. Prentice Hall 1-16 Performance Marketing • Financial Accountability • Social Responsibility Marketing • Social Initiatives • Corporate social marketing • Cause marketing • Corporate philanthropy • Corporate