MARKETING MANAGEMENT 12th edition

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MARKETING MANAGEMENT12th edition

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• Defining Marketing
• for the
• 21st Century

Kotler Keller
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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.
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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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For an exchange to occur.

• There are at least two parties.
• Each party has something that might be of value
  to the other party.
• Each party is capable of communication and
  delivery.
• Each party is free to reject the exchange offer.
• Each party believes it is appropriate or
  desirable to deal with the other party.

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What is Marketed?
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Marketing Goods
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Marketing Ideas Friends Dont Let Friends
Drive DrunkThis is the watch Stephen
Hollingshead, Jr. was wearing when he encountered
a drunk driver. Time of death 655 p.m.
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Figure 1.1 Structure of Flows in a Modern
Exchange Economy
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Figure 1.2 A Simple Marketing System
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Global Markets
Coke is represented at the first China
International Beverage Festival in Beijing in 2003
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Company Orientations
Production
Product
Selling
Marketing
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Figure 1.3 Holistic Marketing Dimensions
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Figure 1.4 The Four Ps
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Marketing Mix and the Customer

• Four Ps
• Product
• Price
• Place
• Promotion

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

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Core Concepts

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

• Marketing channels
• Supply chain
• Competition
• Marketing environment
• Marketing planning

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Figure 1.6 Factors Influencing Marketing Strategy
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Marketing Management Tasks

• Developing marketing strategies
• Capturing marketing insights
• Connecting with customers
• Building strong brands

• Shaping market offerings
• Delivering value
• Communicating value
• Creating long-term growth

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Marketing Debate
Does Marketing Create or Satisfy Needs?
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What Motivates a Consumerto Take Action?

• Needs - states of felt deprivation including
  physical needs for food, social needs for
  belonging and individual needs for
  self-expression. i.e. I am thirsty.
• Wants - form that a human need takes as shaped by
  culture and individual personality. i.e. I want
  a Coca-Cola.
• Demands - human wants backed by buying power.
  i.e. I have money to buy a Coca-Cola.

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