Defining%20Marketing%20for%20the%2021st%20century

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Defining Marketing for the 21st century

• Instructor Omid (Hassan) Samarian
• Teacher Dr.Ahmad Zadeh

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What is marketing?

• simply put Marketing is the delivery of customer
  satisfaction at a profit.
• Marketing is a social and managerial process
  whereby individuals and groups obtain what they
  need and want through creating and exchanging
  products and value with others.

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Marketing importance and role
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Core concepts of Marketing

• Needs, wants, demands
• Products, services, and experiences
• Value, satisfaction, and quality
• Exchange, transaction, and relationships
• Markets

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Needs, wants, and Demands

• Human needs are states of felt deprivation. They
  are basic human requirements. These needs were
  not invented by marketers they are a basic part
  of the human makeup.
• Wants are the form human needs take as they are
  shaped by culture and individual personality.
  Wants are shaped by ones society.
• Demands human wants that are backed by buying
  power.

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Products, services, and experiences

• A product is anything that can be offered to a
  market to satisfy a need or want. It includes
  physical objects, services, persons, places,
  organizations, and ideas.
• Thus the term product includes more than just the
  physical properties of a good or service. It also
  includes a brands meaning to consumers.
• The term product also includes more than just
  goods or services. Consumers decide which events
  to experience, which entertainers to watch on TV,
  which places to visit on vacation, which
  organizations to support through contributions,
  and which ideas to adopt. To the consumer, these
  are all products.
• Service an activity or benefit that one party
  can offer to another that is essentially
  intangible, and does not result in the ownership
  of anything.

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Value, satisfaction, and quality

• Customer value is the difference between the
  values the customer gains from owning and using a
  product and the costs of obtaining the product.
  Customers often do not judge product values and
  costs accurately or objectively. They act on
  perceived value.
• Value proposition a set of benefits to satisfy
  needs Value Benefits / Costs (functional
  benefits emotional benefits) /
• (monetary costs time costs energy costs
  psychic costs) Customer satisfaction depends on
  a products perceived performance in delivering
  value relative to a buyers expectations. If the
  products performance falls short of the
  customers expectations, the buyer is
  dissatisfied. If performance matches
  expectations, the buyer is satisfied. If
  performance exceeds expectations, the buyer is
  delighted.
• Note a company can always increase customer
  satisfaction by lowering its price or increasing
  its services, but this may result in lower
  profits. Thus, the purpose of marketing is to
  generate customer value profitably. This requires
  a very delicate balance the marketer must
  continue to generate more customer value and
  satisfaction but not give away the house.
• In the narrowest sense, Quality can be defined as
  freedom from defects.
• Marketers have two major responsibilities in a
  quality-centered company.
• first, they must participate in forming
  strategies that will help the company with
  through total quality excellence.
• Second, marketers must deliver marketing quality
  as well as production quality.

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Exchange, transaction, and relationships

• Exchange the act of obtaining a desired object
  from someone by offering something in term.
• Transaction a trade between two parties that
  involves at least two things of value, agreed
  upon conditions, a time of agreement, and a place
  of agreement.
• Relationship marketing the process of creating,
  maintaining, and enhancing strong, value-laden
  relationships with customers and other
  stakeholders.

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Marketing and exchange

• Marketing (Kotler, 1980) human activity directed
  as satisfying needs and wants through exchange
  processes.
• Exchange is the core concept of marketing
• Exchange is a value creating process because it
  leaves both parties better off.
• 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 believe it is appropriate or desirable
  to deal with the other party.
• The focal point in an exchange is marketing offer
  combination of products, services, information,
  or experience that satisfy a need or want.

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Markets

• Economists describe a market as a collection of
  buyers and sellers who transact over a particular
  product or product class.
• Marketers often use the term market to cover
  various grouping of customers.
• Market the set of all actual and potential
  buyers of a product or service.

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Key customer markets
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What is marketed?
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Marketing management

• Marketing management
• is the analysis, planning, implementation, and
  control of programs designed to create, build,
  and maintain beneficial exchanges with target
  buyers for the purpose of achieving
  organizational objectives.
• Marketing management is concerned not only with
  finding and increasing demand but also with
  changing or even reducing it. (Demand management)
  
• Demarketing marketing to reduce demand
  temporarily or permanently- the aim is not to
  destroy demand but only to reduce or shift it.

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Marketing management the newest definition

• 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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Marketing management practice

• In fact, marketing practice often passes through
  three stages
• 1. Entrepreneurial marketing most companies are
• Started by individuals who live by their wits.
  They visualize an opportunity and knock on every
  door to gain attention.
• 2. Formulated marketing as small companies
  achieve success, they inevitably move toward more
  formulated marketing.
• 3. Entrepreneurial marketing many large and
  mature companies need to reestablish within their
  companies the entrepreneurial spirit and actions
  that made them successful in the first place.
  They need to encourage more initiative and
  Entrepreneurial at the local level.

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Marketing management tasks

• Developing marketing strategies
• Delivering value
• Capturing marketing insights
• Building strong brands
• Connecting with customers
• Communicating value
• Creating long-term growth
• Shaping market offerings

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Marketing management philosophies
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Production and product orientation

• Production orientation
• It holds that consumers will prefer products that
  are very cheap and widely available.
• High volume, production efficiency, basic
  features, mass distribution.
• Product orientation
• It holds that consumers will favor those products
  that offer the most quality, performance or
  innovative features.
• Making superior products and improve it.

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Selling concept

• It holds that consumers will ordinary not buy
  enough of the organizations product.
• The Company should undertake aggressive selling
  and promotion efforts.
• Sell more stuff to more people more often for
  more money in order to make more profit.
• The aim is to sell what we make rather than
  making what market wants.

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Marketing orientation

• Instead of product or selling, it focuses on
  customers.
• Instead of hunting, marketing is gardening
• The job is not to find the right product for your
  customers.
• Being more effective than competitors in
  creating, delivering and communication superior
  customer value to the target market.

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• Thank You For Your Patience Attention