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

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