Defining Marketing for the 21st Century

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Defining Marketing for the 21st Century
Marketing Management
Week 1
Marketing Management, European edn
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Module Resources

• www.sginns.co.uk
• Marketing Management European Edition Kotler,
  Keller, Brady, Goodman, Hansen
• (Essentials of) Marketing Strategy Blythe
• The Marketing Casebook Cases and Concepts
  Sally Dibb Lyndon Simkin
• Using and Interpreting Company Accounts Wendy
  McKenzie
• Strategic Marketing Problems Roger Kerin and
  Robert Peterson

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www.sginns.co.uk
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Chapter Questions

• Why is marketing important?
• What is the scope of marketing?
• What are some fundamental marketing concepts?
• How has marketing management changed?
• What are the tasks necessary for successful
  marketing management?

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What is Marketing?
Marketing is an organizational function and a
set of processes for creating, communicating,
and delivering value to customers and for
managing customer relationships in ways that
benefit the organization and its stakeholders.
Marketing is meeting customers needs profitably
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What is Marketing Management?
Marketing Management is 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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Selling is only the tip of the iceberg
There will always be need for some selling. But
the aim of marketing is to make selling
superfluous. The aim of marketing is to know and
understand the customer so well that the product
or service fits him and sells itself. Ideally,
marketing should result in a customer who is
ready to buy. All that should be needed is to
make the product or service available. Peter
Drucker
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What is Marketed?
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Structure of Flows in a Modern Exchange Economy
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Figure 1.2 A Simple Marketing System
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Demand States
Nonexistent
Latent
Negative
Declining
Irregular
Full
Unwholesome
Overfull
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Key Customer Markets

• Consumer markets
• Business markets
• Global markets
• Nonprofit/Government markets.

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Company Orientations (Concepts)

• Production
• Product
• Selling
• Marketing.

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Functions of CMOs

• Strengthening the brands
• Measuring marketing effectiveness
• Driving new product development based on customer
  needs
• Gathering meaningful customer insights
• Utilizing new marketing technology.

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Improving CMO Success

• Make the mission and responsibilities clear
• Fit the role to the marketing culture and
  structure
• Ensure the CMO is compatible with the CEO
• Remember that show people dont succeed
• Match the personality with the CMO type
• Make line managers marketing heroes
• Infiltrate the line organization
• Require right-brain and left-brain skills.

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Core Marketing Concepts

• Needs, wants, and demands
• Target markets, positioning, segmentation
• Offerings and brands

• Value and satisfaction
• Marketing channels
• Supply chain
• Competition
• Marketing environment.

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I want it, I need it

• Five Types of Needs
• Stated needs
• Real needs
• Unstated needs
• Delight needs
• Secret needs.

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The marketplace isnt what it used to be
Stephen Ginns
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The New Player Order
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New Consumer Capabilities

• A substantial increase in buying power
• A greater variety of available goods and services
• A great amount of information about practically
  anything
• Greater ease in interacting and placing and
  receiving orders
• An ability to compare notes on products and
  services
• An amplified voice to influence public opinion.

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Company Orientations
Production
Product
Selling
Marketing
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Holistic Marketing Dimensions
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The Four Ps
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Marketing Mix and the Customer

• Four Cs
• Customer solution
• Customer cost
• Convenience
• Communication.

• Four Ps
• Product
• Price
• Place
• Promotion
• Three Service Ps
• Physical Evidence
• People
• Process
• Packaging

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Internal Marketing

• Internal marketing is the task of hiring,
  training, and motivating able employees who want
  to serve customers well.

Slide 25 of 24
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Performance Marketing

• Financial Accountability
• Social Responsibility Marketing

• Social Initiatives
• Corporate social marketing
• Cause marketing
• Corporate philanthropy
• Corporate community involvement
• Socially responsible business practices

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Marketing Management Tasks

• Develop market strategies and plans
• Capture marketing insights
• Connect with customers
• Build strong brands
• Shape market offerings
• Deliver value
• Communicate value
• Create long-term growth

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Seminar Content

• Introduction to Module
• Revision of Introductory Concepts
• The Marketing Gurus are they still valid in an
  Internet-enabled world?
• Marketing Milestones an overview of the history
  of Marketing
• Mission and Vision.