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Make your customer not your company the hero of your story ( Handley, 2013) If behind every successful

man is a woman, then behind every successful company is a strong emphasis on the customer. This outlook is the story behind the success of companies like Southwest Airlines and Virgin ( Forbes) and can also be applied in terms of marketing. In a world where telling and selling is no longer enough, understanding customer needs, developing products of value satisfying the same, and pricing, distributing and promoting them effectively is the way forward. (kotler) This is also the essence of modern day marketing. This portfolio will aim to justify the aforementioned concepts of 21st century marketing by exploring and explaining marketing theory and measuring the extent of their practice by analyzing an internationally recognized event. This will be done by firstly: Defining marketing and its concepts, exploring its scope and establishing marketing as both an art and a science. Introducing modern day marketing concepts such as services marketing, experience marketing, leisure marketing and CRM. Furthermore this report will analyse the marketing strategy of the Indian premier league and aim to measure the extent to which marketing theory is applied by this event. This will be done by: Introducing the event and its nature Analyzing the event in terms of SWOT and its environment in terms of PESTEL Market Research Exploring its marketing mix Branding and sponsorship Advertising Publicity and Broadcast Public Relations etc ETC.

Marketing in the 21st century: The chartered institute of marketing (2013) defines marketing as the management process responsible for identifying, anticipating and satisfying customer requirements profitably. The American marketing association (2013) defines marketing as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Several other authors(GIVE EXAMPLES) have presented various definitions of marketing over the years, however, they agree on certain key concepts that comprise the marketing definition which are: Customer orientation Satisfaction of customer needs whether already existing or creation of needs. should have time place and possession utility (converse hugey and mitchell Integrated approach Profitability Communication

ART AND SCIENCE.

Most definitons of marketing, concentrate on the marketing of good and services only. However, Kotler (2002) presents a broader outlook on its scope, stating that marketers market ten types of entities that can be categorised as: Goods Services Experiences Events Persons Places Properties Organisations Information Ideas Often times, marketers have to market more than one entity. In such cases, the entire range is called a bundle. Since this report discusses the marketing strategy of the IPL, a sports event, it will concentrate on the Services, Experiences and Events only. However it must be noted that the IPL does consist of the elements such as: Products Merchandising such as jerseys of sports teams, bags, shoes etc. Persons- Marketable players Sachin etc team owners Places- India

Properties The individual stadiums as well as the ITC hotels Organisations BBCI, DLF, Kingfisher, Reliance Please refer to appendix A for a full list of examples and definitions of these typologies of entities that are marketed in the event. Services, Experience and Event Marketing:

References:
Kotler mobile Handley 2013 http://www.entrepreneur.com/article/227962 Forbes http://www.forbes.com/2002/08/01/0801marketers.html CIM 2013 - http://www.cim.co.uk/Resources/JargonBuster.aspx AMA 3013 http://www.marketingpower.com/AboutAMA/Pages/DefinitionofMarketing.asp x Kotler 2002 - desktop http://media3.bournemouth.ac.uk/marketing/02defining/02defining.html#. art and science: http://www.kotlermarketing.com/phil_questions.shtml 7 ps http://www.cim.co.uk/files/7ps.pdf