Understanding Marketing Management
17
Marketing in the Twenty-first Century By Philip Kotler
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Transcript of Understanding Marketing Management
Marketing in the Twenty-first
CenturyBy Philip Kotler
Objectives
1. Course Organization
2. Tasks of Marketing
3. Major Concepts & Tools of Marketing
4. Marketplace Orientations
5. Marketing’s Responses to New Challenges
Course/Text Organization
1. Part I - Understanding Marketing Management2. Part II - Analyzing Marketing Opportunities3. Part III - Developing Marketing Strategies4. Part IV - Shaping the Market Offering5. Part V - Managing & Delivering Marketing Programs
Defining Marketing
Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others.
-Philip Kotler
Core Concepts of Marketing1. Target Markets & Segmentation
2. Needs , Wants & Demand
3. Product or Offering
4. Value and Satisfaction
5. Exchange and Transactions
6. Relationships and Networks
7. Marketing Channels
8. Supply Chain
9. Competition
10. Marketing Environment
Simple Marketing System
Industry Market
Goods and Service
Money
Communications
Information
Manufacturermarkets
Services,money
Governmentmarkets
Services,money
Services
Services,money
Taxes
Taxes,goods
Taxes,goods
Taxes,goods
Money Money
Consumermarkets
IntermediarymarketsGoods, services Goods, services
Resources Resources
Resourcemarkets
Money Money
Structure of Flows
The Four P’s & C’sThe Four P’s & C’s
MarketingMix
Product
Price Promotion
Place
CustomerSolution
CustomerCost
Communication
Convenience
Production Concept
Product Concept
Selling Concept
Marketing Concept
Consumers prefer products that are widely available and inexpensive
Consumers favor products that offer the most quality, performance,
or innovative features
Consumers will buy products only if the company aggressively
promotes/sells these products
Focuses on needs/ wants of target markets & delivering value
better than competitors
Company Orientations Towards the Marketplace
Market Integratedmarketing
Profits throughcustomer
satisfactionCustomer
needs
(b) The marketing concept
Factory Existingproducts
Selling andpromotion
Profits throughsales volume
Startingpoint Focus Means Ends
(a) The selling concept
Customer Delivered Value
Customers
Front-line people
Middle Management
TopManagement
Traditional Organization Chart
Customer-Oriented Organization Chart
Customers
Front-line people
Middle management
Topmanage-
ment
Customers Cus
tom
ers
Evolving Views of Marketing’s Role
a. Marketing as anequal function
FinanceProduction
Marketing P’s Humanresources
b. Marketing as a moreimportant function
FinanceProduction
Marketing P’s Humanresources
Evolving Views of Marketing’s Role
c. Marketing as themajor function
Marketing
Finan
ce
Hum
an
resources
Production
d. The customer as thecontrolling factor
Customer
Hum
an
reso
urce
s
FinanceProducti
on
Marketing
Evolving Views of Marketing’s Role
e. The customer as the controllingfunction and marketing as the
integrative function
Customer
Marketing
Production
Hum
an
resources
Finan
ce
Review
1. Course Organization
2. Tasks of Marketing
3. Major Concepts & Tools of Marketing
4. Marketplace Orientations
5. Marketing’s Responses to New Challenges
