MGT301

Principles of Marketing
Lecture-5
Summary
of
Lecture-4
How has Marketing Changed Over
Time?
The stages in the evolution of
marketing

Production
orientation

Sales
orientation Social
marketing
orientation
Marketing
orientation
 PRODUCT SOCIETAL
CONCEPT MARKETING
CONCEPT

KEY
MARKETING
PHILOSOPHIES
MARKETING
MARKETING
PRODUCTION CONCEPT
CONCEPT
CONCEPT

SELLING
CONCEPT
 Society
Society
(Human
(Human Welfare)
Welfare)

Societal
Societal
Marketing
Marketing
Concept
Concept

Consumers
Consumers Company
Company
(Satisfaction)
(Satisfaction) (Profits)
(Profits)
 Production

Marketing

Customer
re
Hu ur
so
ma ces

ce
n
n

na
Fi

The customer as the controlling

function and marketing as the
integrative function
Today’s Topics
Marketing Challenges in the 21st
century
Porter’s 5 Forces Model of
Competition
 Threat of
New
Threat of
Entrants
New
Entrants

Bargaining Bargaining
Power of Rivalry Among Competing Power of
Suppliers Firms in Industry Buyers

Threat of
Substitute
Products

*
 Marketing Challenges
 The Information Technology Boom
 Rapid Globalization
 The Changing World Economy
 The Call for more ethical and social Responsibility
 The New Marketing Landscape
The Information Technology Boom
Major Forces Shaping the Digital
Age
Digitalization and Connectivity
– The flow of digital information requires connectivity
 Intranets, Extranets, and the Internet

The Internet Explosion

– Key driver of the “new economy”
 New Types of Intermediaries
 Connecting with Customers
 Connecting with Marketing Partners
 Connecting Inside the Company
 Connecting with the World around us
E-business:
– uses electronic means and platforms to conduct
business.

E-commerce:
– facilitates the sale of products and services by
electronic means.
E-marketing:
– Includes efforts that inform, communicate, promote,
and sell products and services over the Internet.
E-commerce benefits both buyers and sellers
Technology for Connecting
Electronic
Commerce

retailer /
manufacturer Financial Institution
Internet

consumer
The Digital Revolution
The Digital Revolution: one of the biggest
changes in the world of marketing. Changes in
technology are transforming the ways we:
– communicate,
– buy,
– sell,
– learn, and
– work.
 Rapid Globalization

Children’s
Anthropology
P&E Arena Cable Net
Noggin
BET on J azz
Classical Knowledge
Music TV

Animal
Ovation New Science
Planet KIDS Network
CIVILIZATION

Classic Arts
Showcase
C-SPAN
Booknet Theater
DIYArts & Antiques Channel
Museum
Channel BLOOMBERG
NEWS INFORMATION
SCIENCE Travel
Channel
EOP
“Global Village”
The Changing World Economy
The Call for more ethical and
social Responsibility
The New Marketing Landscape
Enough for today. .
.
 Summary

Marketing Challenges in the 21st

century
 Threat of
New
Threat of
Entrants
New
Entrants

Bargaining Bargaining
Power of Rivalry Among Competing Power of
Suppliers Firms in Industry Buyers

Threat of
Substitute
Products

*
 The Information Technology Boom
 Rapid Globalization
 The Changing World Economy
 The Call for more ethical and social Responsibility
 The New Marketing Landscape
 Next….
 Marketing Process
 Analyzing marketing opportunities
 Selecting target markets
 MGT301
Principles of Marketing
Lecture-5