MARKETING IN THE TWENTYFIRST CENTURY

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CHAPTER 1

• MARKETING IN THE TWENTY-FIRST CENTURY

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Important Topic of This Chapter

• Core marketing Concept.
• Company orientation toward marketplace

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SCOPE OF MARKETING TASKS

• Goods
• Services
• Experiences
• Events
• Persons-celebrities
• Places
• Properties-real estate
• Organizations-corporate identity
• Information-encyclopedia
• Ideas-sells hope

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MARKETING DECISIONS

• Consumer market
• Business market
• Global market
• Nonprofit and governmental market

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CORE MARKETING CONCEPTS

• Marketing is a social and managerial process
• by which individuals and groups obtain what
• they need and want through offering, and
• exchanging product value with others.
• Target market and segmentation
• sellers-----------------buyers
• Marketing and prospects
• Someone sells and another person buys
• Needs, Wants and Demands
• Responsive Marketing
• Anticipative Marketing
• Creative marketing
• Product Vs offerings

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MARKETING CONCEPTS (CONT.)

• Value, Cost and Satisfaction Exchange process
• Value to customer
• Benefit and cost analysis
• Relationship Marketing and Networks
• Markets
• Where all buyers and sellers meet to satisfy
  their needs
• Marketing Channels
• Communication channels(TV, magazines)
• Dialogue Channels(e-mails)
• Monologue channels(ads)
• Distribution channels

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CORE MARKETING CONCEPTS (CONT.)

• Value and satisfaction
• Products offer value and satisfaction customers
  assume costs
• Exchange and transaction
• There are at least two parties
• Relationship and networks
• Stakeholders
• Marketing channels
• Communication channels
• Dialogue channels
• Monologue channels
• Distribution channels
• Supply Chain
• Value delivery system
• Competition
• Brand competition
• Industry competition
• Form competition
• Generic competition
• Marketing environment

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COMPANY ORIENTATIONS TOWARD MARKETING

• The Production Concept(1900-1920)
• Good quality products with low cost.
• The Product Concept(1920-1940)
• Performance, features and product quality.
• The Selling Concept(1950s)
• Aggressive selling and promotion
• The Marketing Concept (1970s)
• Customer satisfaction
• Target Market-1990s

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ORIENTATIONS TOWARD MARKETING (CONT.)

• Customer Needs-customer buys hope
• responsive marketing
• creative marketing(Sony)
• customer retention
• customer attractions
• Integrated marketing
• marketing functions work together
• External marketing
• Directed to people outside of company.
• Internal
• marketing must be well coordinated with other
  departments in the company

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ORIENTATION TOWARD MARKETING (CONT.)

• Profitability-goal achievement.
• Implementing marketing concept
• Sales decline, slow growth, changing buying
  habits, increased competition, higher marketing
  expenditures.
• Problems in marketing oriented company
• Organized resistance from finance, RD, and
  manufacturing
• Slow learning
• Fast forgetting.

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ORIENTATIONS TOWARD MARKETING (CONT.)

• The Societal Marketing Concept(1980s)
• Ben Jerry Ice Cream
• Company Responses and Adjustment
• Reengineering
• managed by multidiscipline teams
• Outsourcing
• E-commerce
• Benchmarking
• Alliances
• Partner-suppliers
• Market centered
• Global and local
• Decentralized