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Defining Marketing
for the 21st Century
Chapter Questions
Why is marketing important?
What is the scope of marketing?
What are some of the fundamental marketing
concepts?
How has marketing management changed?
What are the tasks necessary for successful
marketing management?
1-2
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.
1-3
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.
1-4
Competing in today’s Economy means finding
ways to break out of commodity status to meet
customer’s needs better than competing firms.
5
CIM’s Definition of Marketing
6
American Marketing Society (AMA)
8
Three things should happen when a company is implementing a marketing
concept:
9
The stages in the evolution of
marketing
Production
Societal
Product
orientation orientation Sales Marketing
Marketing
orientation orientation
10
Demand States
Negative Irregular
Nonexistent Unwholesome
Latent Full
Declining Overfull
1-11
Key Customer Markets
Consumer markets
Business markets
Global markets
Nonprofit/Government markets
1-12
The marketplace isn’t what it used to
be….
Changing technology Empowerment
Globalization Customization
Deregulation Convergence
Privatization Disintermediation
1-13
Dimensions That Define A Business
Customer
groups
Customer
Technology
needs
1-14
Porter’s Generic Strategies
Overall cost leadership
Differentiation
Focus
1-15
Balancing Orientations
Competitor-centered
Customer-centered
1-16
2
Marketing Strategies
19
Market Growth Rate
20
Ansoff Matrix and Gap Analysis
- Ansoff Matrix (Growth Strategies)
3
Gathering Information
and Scanning the
Environment
Unique resources,
capabilities, and core
competencies
(sustainable
competitive
advantage)
Internal Analysis
Tools to Analyse the Internal Environment
Capabilities
• Valuable/ Critical
• Appropriate
• Costly to Imitate
• Scarce
• Durable
Applying the Resource Based View
29
Value Chain
Servic
e
30
External Forces
Demographic
Economic
Socio-Cultural
Natural
Technological
Political-Legal
1-31
External Analyses
Environment By studying the external
Sociocultural environment, firms identify
what they might choose to
Industry do
Environment
Opportunities and
Competitor threats
Environment
Technological
General
Population and Demographics
Size Household patterns
Growth rate Regional characteristics
Age distribution Movement
Ethnic mix
Educational levels
1-33
Economic Environment
$ Purchasing Power
$ Income Distribution
$ Savings Rate
$ Debt
$ Credit Availability
1-34
Types of Industrial Structures
Industrial economies
Industrializing economies
Raw-material exporting economies
Subsistence economies
1-35
Social-Cultural Environment
Views of themselves
Views of others
Views of organizations
Views of society
Views of nature
Views of the universe
1-36
Natural Environment
Shortage of raw materials
Increased energy costs
Anti-pollution pressures
Governmental protections
1-37
Technological Environment
Pace of change
Opportunities for innovation
Varying R&D budgets
Increased regulation of change
1-38
Five forces analysis
Potential
entrants
Threat of
entrants
Threat of
substitutes
Substitutes
Source: Adapted from M. E. Porter,
Competitive Strategy, Free Press,
1980, p. 4.