Professional Documents
Culture Documents
1
Defining
Marketing
for the
New Realities
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Learning Objectives
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Marketing Management
The art and science of choosing
target markets and getting, keeping,
and growing customers through
creating, delivering, and
communicating superior customer
value
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2016 Pearson INC.
Education, Inc.
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What is Marketed?
Goods
Services
Events
Experiences
Persons
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2016 Pearson INC.
Education, Inc.
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What is Marketed?
Places
Properties
Organizations
Information
Ideas
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2016 Pearson INC.
Education, Inc.
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Who Markets?
A marketer is someone who seeks a
responseattention, a purchase, a
vote, a donationfrom another
party, called the prospect
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Education, Inc.
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8 Demand States
Negative
Nonexistent
Latent
Declining
Irregular
Unwholesome
Full
Overfull
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2016 Pearson INC.
Education, Inc.
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Fig. 1.1
Structure Of Flows In A Modern
Exchange Economy
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Fig. 1.2
A Simple Marketing System
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Consumer markets
Business markets
Global markets
Nonprofit & governmental markets
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Inc.
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Types of Needs
STATED
REAL
UNSTATED
DELIGHT
SECRET
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INC.
Inc.
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COPYRIGHT 2016Copyright
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2016
EDUCATION,
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INC.
Inc.
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COPYRIGHT 2016Copyright
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2016
EDUCATION,
Pearson Education,
INC.
Inc.
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COPYRIGHT 2016Copyright
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2016
EDUCATION,
Pearson Education,
INC.
Inc.
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2016
Pearson Education,
Inc.
COPYRIGHT 2016Copyright
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EDUCATION,
INC.
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2016
Pearson Education,
Inc.
COPYRIGHT 2016Copyright
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EDUCATION,
INC.
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2016
Pearson Education,
Inc.
COPYRIGHT 2016Copyright
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EDUCATION,
INC.
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Inc.
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A dramatically changed
marketplace
New consumer capabilities
Can use the internet as a powerful information
and purchasing aid
Can search, communicate, and purchase on
the move
Can tap into social media to share opinions
and express loyalty
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EDUCATION,
Pearson Education,
INC.
Inc.
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A dramatically changed
marketplace
New consumer
capabilities
Can actively interact
with companies
Can reject marketing
they find inappropriate
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2016
EDUCATION,
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INC.
Inc.
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A dramatically changed
marketplace
New company capabilities
Can use the internet as a powerful information and
sales channel, including for individually differentiated
goods
Can collect fuller and richer information about
markets, customers, prospects, and competitors
Can reach customers quickly and efficiently via social
media and mobile marketing, sending targeted ads,
coupons, and information
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2016
EDUCATION,
Pearson Education,
INC.
Inc.
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A dramatically changed
marketplace
New company capabilities
Can improve purchasing, recruiting, training, and
internal and external communications
Can improve cost efficiency
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2016
EDUCATION,
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INC.
Inc.
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A dramatically changed
marketplace
Changing
channels
Retail
transformation
Disintermediation
2016
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Inc.
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INC.
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A dramatically changed
marketplace
Heightened competition
Private brands
Mega-brands
Deregulation
Privatization
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Inc.
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Marketing in practice
Marketing balance
Marketing accountability
Marketing in the organization
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Inc.
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Fig. 1.4
Holistic Marketing Dimensions
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Relationship marketing
CUSTOMERS
EMPLOYEES
MARKETING PARTNERS
FINANCIAL COMMUNITY
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Integrated marketing
Devise marketing activities and programs
that create, communicate, and deliver value
such that the whole is greater than the sum
of its parts.
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Internal marketing
The task of hiring, training, and
motivating able employees who want
to serve customers well
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Performance marketing
FINANCIAL
ACCOUNTABILITY
ENVIRONMENTAL
IMPACT
SOCIAL IMPACT
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Fig. 1.5
Marketing Mix Components (4
Ps)
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MODERN MARKETING
MANAGEMENT
PEOPLE
PROCESSES
PROGRAMS
PERFORMANCE
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MARKETING
MANAGEMENT TASKS
Developing market strategies and
plans
Capturing marketing insights
Connecting with customers
Building strong brands
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MARKETING
MANAGEMENT TASKS
Creating value
Delivering value
Communicating value
Creating successful long-term growth
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