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ChapterChapter11
DefiningDefiningMarketing in theMarketing in theTwentyTwenty--First CenturyFirst Century
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The future is not ahead
of us. It has alreadyhappened.
Unfortunately, it is
unequally distributed
among companies,industries and nations.
KotleronKotleronMarketingMarketing
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The New EconomyThe New Economy
Substantial increase in buying power
A greater variety of goods and services
A greater amount of information about practicallyanything
A greater ease in interacting and placing and
receiving orders An ability to compare notes on products and
services
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The New EconomyThe New Economy
Websites can provide companies with powerful newinformation and sales channels.
Companies can collect fuller and richer information
about markets, customers, prospects and
competitors.
Companies can facilitate and speed up
communications among employees. Companies can have 2-way communication with
customers and prospects
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The New EconomyThe New Economy
Companies can send ads, coupons, samples,information to targeted customers.
Companies can customize offerings and services
to individual customers.
The Internet can be used as a communication
channel for purchasing, training, and recruiting.
Companies can improve logistics and operations
for cost savings while improving accuracy and
service quality.
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Marketing TaskMarketing Task
Ten rules of radical marketing;
The CEO must own the marketing function.
Make sure the marketing department starts smalland flat and stays small and flat.
Get face to face with the people who matter most the customers.
Use market research cautiously.
Hire only passionate missionaries.
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Marketing TaskMarketing Task
Love and respect your customers.
Create a community of consumers.
Rethink the marketing mix. Celebrate common sense.
Be true to the brand.
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The Scope of MarketingThe Scope of Marketing
Marketing: typically seen as the taskof creating, promoting, and
delivering goods and services toconsumers and businesses.
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The Scope of Marketing
The Scope of Marketing
Places
Properties
Organizations
Information
Ideas
Goods
Services
Experiences
Events
Persons
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The DecisionsThe Decisions
Marketers MakeMarketers Make
Consumer Markets
Business Markets Global Markets
Nonprofit and GovernmentalMarkets
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Figure 1.2: A Simple Marketing SystemFigure 1.2: A Simple Marketing System
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Marketing ConceptsMarketing Concepts
and Toolsand Tools
Market place (physical),
Market space (digital), and Meta market
(supplementary products)
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Marketing ConceptsMarketing Concepts
and Tools:and Tools:
Marketers and Prospects
Needs, Wants, and Demands
Product, Offering, and Brand
Value and Satisfaction
Value
Value = Benefits / Costs =(Functional benefits + Emotional benefits) /
(Monetary costs + Time costs + Energy costs + Psychic
costs)
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Figure 1.6: FactorsFigure 1.6: Factors
Influencing CompanyInfluencing Company
Marketing StrategyMarketing Strategy
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Company Orientations Toward theCompany Orientations Toward the
MarketplaceMarketplace
Market Orientation
Intelligent generation Intelligent dissemination
Responsiveness
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Company Orientations Toward theCompany Orientations Toward the
MarketplaceMarketplace
Integrated Marketing
External marketing
Internal marketing
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Company Orientations Toward theCompany Orientations Toward the
MarketplaceMarketplace
Profitability
Sales decline Slow growth
Changing buying patterns
Increasing competition
Increasing marketing expenditures
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How Business and Marketing areHow Business and Marketing are
ChangingChanging
Customers expectations
Brand manufacturers faceincreasing competition
Store-based retailers face
competition from internet
marketers & direct marketing
firms.
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How Business and Marketing areHow Business and Marketing are
ChangingChanging
Company responses and adjustments
Reengineering Outsourcing
E-commerce
Benchmarking
Alliances
PartnerPartner--supplierssuppliers
MarketMarket--centeredcentered
Global and localGlobal and local
DecentralizedDecentralized
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How Business and Marketing areHow Business and Marketing are
ChangingChanging
Marketer Responsesand Adjustments
Customer relationshipmarketing
Customer lifetime value
Customer share
Target marketing Customization
Customer database
Integrated marketingIntegrated marketing
communicationscommunications Channels as partnersChannels as partners
Every employee aEvery employee a
marketermarketer
ModelModel--based decisionbased decisionmakingmaking
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MarkeMarke--think!think!
Marketing shapes consumer needs and
wants versus marketing merely reflect the
needs and wants of consumers.
Do you agree? Why so?
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