MARKETING IN

THE
st
21 CENTURY

Prepared by: LFJ

Objectives

• What are the tasks of marketing?

• What are the major concepts and tools of marketing?
• What orientations do companies exhibit in the marketplace?
• How are companies and marketers responding to the new
challenges?
Early morning class???
 Change is occurring at an accelerating rate; today is not like
yesterday, and tomorrow will be different from today. Continuing
today’s strategy is risky; so is turning to a new strategy.
Therefore, tomorrow’s successful companies will have to heed three
certainties:
□ Globalization
□ Technological advances
□ Deregulation

https://www.youtube.com/watch?v=JswsudSEfGU
How marketing has changed?
MARKETING DEFINITION
• Social Definition - Marketing is a societal process by which individuals and
groups obtain what they need and want through creating, offering and
freely exchanging products and services of value with others.
• Managerial Definition - Marketing (management) is the process of
planning and executing the conception, pricing, promotion, and
distribution of ideas, goods, and services to create exchanges that satisfy
individual and organizational goal
• Kotler 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

https://www.youtube.com/watch?v=cA2XHl_cnUE
Marketing in the 21st Century
The Scope of Marketing
❑ Goods
❑ Experiences
❑ Events
❑ Persons
❑ Places
❑ Properties
❑ Organizations
❑ Information
❑ Ideas
Marketers
• Marketers are skilled in stimulating demand for their products. Just as production and logistics
professionals are responsible for supply management, marketers are responsible for demand
management. A marketer can rarely satisfy everyone in a market. So they may have to manage all
kinds of demand.
Core Marketing Concepts
Core Marketing Concepts
Value Creation
Exchange, transaction & transfer
Exchange, the core of marketing, involves obtaining a desired product
from someone by offering something in return. For exchange potential
to exist, five conditions must be satisfied:
1. There are at least two parties.
2. Each party has something that might be of value to the other party.
3. Each party is capable of communication and delivery.
4. Each party is free to accept or reject the exchange offer.
5. Each party believes it is appropriate or desirable to deal with the
other party.
A transaction involves at least two things of value, agreed-upon conditions, a time
of agreement, and a place of agreement. Usually a legal system exists to support
and enforce compliance among transactors. However, transactions do not require
money as one of the traded values.
Transfer, A gives a gift, a subsidy, or a charitable contribution to B but receives
nothing tangible in return.
Transaction Marketing vs. Relationship
Marketing
Supply Chain
A supply chain is an entire system of producing and delivering a product or service, from the very
beginning stage of sourcing the raw materials to the final delivery of the product or service to end
users. Supply chain lays out all aspects of the production process, including the activities involved at
each stage, information that is being communicated, natural resources which are transformed into
useful materials, human resources, and other components that go into the finished product or
service. It's like an end to end process.
Competition
Competition, a critical factor in marketing management, includes all of
the actual and potential rival offerings and substitutes that a buyer
might consider.
1. Brand competition
2. Industry competition
3. Form competition
4. Generic competition
Marketing Environment
• Task environment includes the immediate actors involved in
producing, distributing, and promoting the offering, including the
company, suppliers, distributors, dealers, and the target customers
• Broad environment consists of six components: demographic
environment, economic environment, natural environment,
technological environment, political-legal environment, and
social-cultural environment
Marketing mix is the set of marketing tools that the firm uses to pursue its
marketing objectives in the target market.
COMPANY ORIENTATIONS TOWARD THE MARKETPLACE
HOW BUSINESS AND MARKETING ARE
CHANGING
References
• https://www.slideserve.com/lita/marketing-in-the-21st-century
• https://www.youtube.com/watch?v=JswsudSEfGU
• https://www.youtube.com/watch?v=cA2XHl_cnUE
• https://www.youtube.com/watch?v=HE9nLWFZ6ac&feature=share&fbclid
=IwAR081X9dWM-jbkS3mYYkZq1eezdtpFgt5o2IsuEI39Yxci6oKUsbKUgR3b8
• https://www.youtube.com/watch?v=dNDSYW5Zu4E&feature=share&fbclid
=IwAR2RSAO-FkuKOahIn1ns2oxNM8Ytp1dAT8_2_pJFbFxc3Fj1wwsTHjsfmfc
• https://www.marketing91.com/holistic-marketing-concept/
• https://quizizz.com/join
 THANK YOU! ☺
“Without change there is no innovation, creativity, or incentive for improvement. Those
who initiate change will have a better opportunity to manage the change that is
inevitable.” – William Pollard –

Questions?