1 Defining Mkt

8/4/2019 1 Defining Mkt

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Copyright 2004 Pearson Education Canada Inc

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ChapterChapter11

DefiningDefiningMarketing in theMarketing in theTwentyTwenty--First CenturyFirst Century


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The future is not ahead

of us. It has alreadyhappened.

Unfortunately, it is

unequally distributed

among companies,industries and nations.

KotleronKotleronMarketingMarketing


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The New EconomyThe New Economy

Substantial increase in buying power

A greater variety of goods and services

A greater amount of information about practicallyanything

A greater ease in interacting and placing and

receiving orders An ability to compare notes on products and

services


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Websites can provide companies with powerful newinformation and sales channels.

Companies can collect fuller and richer information

about markets, customers, prospects and

competitors.

Companies can facilitate and speed up

communications among employees. Companies can have 2-way communication with

customers and prospects


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Companies can send ads, coupons, samples,information to targeted customers.

Companies can customize offerings and services

to individual customers.

The Internet can be used as a communication

channel for purchasing, training, and recruiting.

Companies can improve logistics and operations

for cost savings while improving accuracy and

service quality.


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Marketing TaskMarketing Task

Ten rules of radical marketing;

The CEO must own the marketing function.

Make sure the marketing department starts smalland flat and stays small and flat.

Get face to face with the people who matter most the customers.

Use market research cautiously.

Hire only passionate missionaries.


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Marketing TaskMarketing Task

Love and respect your customers.

Create a community of consumers.

Rethink the marketing mix. Celebrate common sense.

Be true to the brand.


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The Scope of MarketingThe Scope of Marketing

Marketing: typically seen as the taskof creating, promoting, and

delivering goods and services toconsumers and businesses.


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The Scope of Marketing

The Scope of Marketing

Places

Properties

Organizations

Information

Ideas

Goods

Services

Experiences

Events

Persons


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The DecisionsThe Decisions

Marketers MakeMarketers Make

Consumer Markets

Business Markets Global Markets

Nonprofit and GovernmentalMarkets


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Figure 1.2: A Simple Marketing SystemFigure 1.2: A Simple Marketing System


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Marketing ConceptsMarketing Concepts

and Toolsand Tools

Market place (physical),

Market space (digital), and Meta market

(supplementary products)


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Marketing ConceptsMarketing Concepts

and Tools:and Tools:

Marketers and Prospects

Needs, Wants, and Demands

Product, Offering, and Brand

Value and Satisfaction

Value

Value = Benefits / Costs =(Functional benefits + Emotional benefits) /

(Monetary costs + Time costs + Energy costs + Psychic

costs)


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Figure 1.6: FactorsFigure 1.6: Factors

Influencing CompanyInfluencing Company

Marketing StrategyMarketing Strategy


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Company Orientations Toward theCompany Orientations Toward the

MarketplaceMarketplace

Market Orientation

Intelligent generation Intelligent dissemination

Responsiveness


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Integrated Marketing

External marketing

Internal marketing


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Profitability

Sales decline Slow growth

Changing buying patterns

Increasing competition

Increasing marketing expenditures


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How Business and Marketing areHow Business and Marketing are

ChangingChanging

Customers expectations

Brand manufacturers faceincreasing competition

Store-based retailers face

competition from internet

marketers & direct marketing

firms.


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ChangingChanging

Company responses and adjustments

Reengineering Outsourcing

E-commerce

Benchmarking

Alliances

PartnerPartner--supplierssuppliers

MarketMarket--centeredcentered

Global and localGlobal and local

DecentralizedDecentralized


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ChangingChanging

Marketer Responsesand Adjustments

Customer relationshipmarketing

Customer lifetime value

Customer share

Target marketing Customization

Customer database

Integrated marketingIntegrated marketing

communicationscommunications Channels as partnersChannels as partners

Every employee aEvery employee a

marketermarketer

ModelModel--based decisionbased decisionmakingmaking


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MarkeMarke--think!think!

Marketing shapes consumer needs and

wants versus marketing merely reflect the

needs and wants of consumers.

Do you agree? Why so?

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